946. Application of purchase money of land sold by ecclesiastical corporation sole.

If the purchase money of land sold by an ecclesiastical corporation sole for the purposes of the Literary and Scientific Institutions Act 1854 does not exceed £20, the person conveying may retain the money for his own benefit, but, if it exceeds £20, the money must be applied for the benefit of the corporation sole as the bishop of the diocese directs, by writing registered in the diocesan registry1. The purchaser is not concerned with the proper application of the purchase money

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