§ Sir HILDRED CARLILEasked the Secretary of State for the Home Department whether the Welsh Church Bill will, immediately in the event of commutation being accepted by the Church Representative Body, and otherwise gradually with the extinction of life interests, alienate from the Church property which in 1906 produced an income of £157,338?
§ Mr. McKENNAIn the event of the scheme of commutation set forth in the Bill being accepted, property which in 1906 produced an income of £157,238 will be alienated from the Church, but the Representative Body of the Church will receive a capital sum estimated approximately at £2,000,000 in lieu of life interests. If the commutation scheme is not accepted, the property will be transferred subject to all such life interests.
§ Sir HILDRED CARLILEasked the Home Secretary whether the terms of the commutation in the Welsh Church Bill were framed on the basis that the capital sum to be given to the Church Representative Body, together with the interest at 3¾ per cent., estimated to be derivable from the investment thereof, should, approximately, suffice to meet the liabilities taken over by the Church Representative Body in respect of existing interests, together with the expenses of administration involved in the discharge of such liabilities?
§ Mr. McKENNAExcept that the interest is calculated at 3½ per cent., the answer is in the affirmative.