(1)The trusteeship of the property specified in the Table in Schedule 3, being property held by the Church Commissioners on trust in connection with the cathedral so specified, is transferred by virtue of this section on the date on which this section comes into force for the Chapter to hold for the cathedral's general purposes.
(2)A transfer by virtue of this section is made free from any restriction on the expenditure of capital which was in force immediately before the transfer.
(3)On a transfer by virtue of this section, the Church Commissioners are discharged from the trust.