Irish Church Act, 1869

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Regulations as to payment of commutation and annuity.

51. Every annuity payable by the Commissioners under this Act shall be deemed to accrue due from day to day, and shall be paid at such intervals not exceeding in any case six months, and in such manner, as the Commissioners may judge expedient.

The Commissioners may deduct from any annuity payable by them any sums they may have been required to pay to any in-cumbrancer in respect of any charge which would have been payable out of the property for which such annuity is substituted if no substitution had taken place, subject to the like provision thereout for the discharge of the spiritual duties of the see or benefice as the income thereof would have been liable to if this Act had not been passed.

All commutation monies paid under this Act in lieu of annuities shall be calculated at the rate of three pounds ten shillings per centum per annum.