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Life trustees or churchwardens may dispose of vaults, &c. and after paying the dues to which incumbent of parish is entitled, the remainder shall form a fund for supplying deficiencies in salaries of minister and clerk, &c., and for repairs.
Application of surplus income.
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15. It shall be lawful for the life trustees or churchwardens respectively of any such church or chapel, and their successors, and they are hereby authorized and empowered, to sell and dispose of the vaults or burial places under any such church or chapel, and of vaults or burial grounds in the cemetery or yard of the church or chapel, if there shall be any cemetery or burial ground thereto; and such life trustees or churchwardens respectively are hereby empowered and required to pay to the incumbent of the parish such dues or sums as such incumbent would be entitled to and have of vaults or burial places of a like description in the church of the parish, and shall, after making such payments, invest or lay out the remainder of the monies thence arising in some public funds, stocks, or securities, from time to time, and also from time to time in like manner to lay out the interest, dividends, or proceeds of such public funds, stocks, or securities, or such part thereof as shall not be applied under the provisions of this Act, in like funds, stocks, or public securities; and such life trustees or churchwardens shall, out of such interest, dividends, or proceeds, from time to time make good any deficiencies, if any shall arise, in the payment of the stipends or salaries of the minister or clerk of the church or chapel, or any other payments or incidental expenses to be paid from the produce of the rents of pews or seats, by reason of the rents of pews not being adequate to the payment of such stipends, salaries, or expenses; and in the next place shall apply such interest, dividends, and proceeds in the maintaining, supporting, and repairing the church or chapel: Provided always, that if by reason of any such funds, or if the produce of pew rents being more than sufficient for all the purposes to which the same are made applicable under the provisions of this Act, there shall be a surplus of annual income, then and in any such case such surplus shall be applied in subsequent years to the purposes to which pew rents are applicable; and the pew rents shall in every such case be reduced rateably and in equal proportions, or a larger number of free seats shall be opened, as the bishop of the diocese shall order and direct.
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