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Any minister or assistant successor of any Protestant nonconforming congregation, to or for whom any annuity is paid or secured under this Act by reason of the discontinuance of the said grant called the Regium Donum, may apply to the Commissioners to commute his annuity for a capital sum to he paid to him, and the said Commissioners, if satisfied that the annuity of the applicant is not incumbered, or if incumbered that the incumbrancers consent to the commutation, shall cause the then present value of the annuity to be estimated, and shall pay the amount of such estimated value to trustees, such trustees to be appointed in the case of any such minister or assistant successor as aforesaid by such minister or assistant successor and the General Assembly or synod or presbytery, as the case may be, of the church or religious community to which such minister or assistant successor may belong.
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