Property
20Property held by Chapter as trustee
1
In the case of each cathedral, neither the cathedral church building nor any outstanding inventory object may be—
a
charged with any debts or liabilities of the Chapter, or
b
alienated.
2
No value is to be given on the Chapter's balance sheet for the cathedral church building or any outstanding inventory object.
3
If the Chapter of a cathedral ceases to exist, the trusteeship of the cathedral church building and of any outstanding inventory object is transferred to the diocesan board of finance; it cannot otherwise be transferred from the Chapter.
4
If the trusteeship referred to in subsection (3) has already been transferred under that subsection, the diocesan board of finance or any subsequent transferee may not transfer the trusteeship without having obtained the consent of the bishop of the diocese.
5
If there is a transfer under subsection (3) or (4), the new trustee holds the cathedral church building and the outstanding inventory objects on the trusts on which they were held immediately before the transfer took place (and for no other purpose).
6
“Outstanding inventory object”, in relation to a cathedral, means an object which—
a
is included in the inventory compiled and maintained for the cathedral for the purposes of section 24(1)(a) of the Care of Cathedrals Measure 2011, and
b
is designated in that inventory as outstanding.