Cathedrals Measure 1999 No. 1

Part I Governing bodies and financial provisions

Provisions as to property

17 Proceeds of disposal of property forming part of endowment of cathedral

Where any property which forms part of the endowment of a cathedral is disposed of, the proceeds of the disposal (including any moneys received by way of loan on a mortgage or charge on land or premium on the grant of a lease) shall be treated as part of the endowment of the cathedral.