Any compensation payable under this Part of this Act in respect of land which is ecclesiastical property shall be paid
(a) in the case of land which is not diocesan glebe land, to the Church Commissioners; and
(b) in the case of diocesan glebe land, to the Diocesan Board of Finance in which the land is vested,
to the Diocesan Board of Finance for the diocese in which the land is situated and (in either case) shall be applied for the purposes for which the proceeds of a sale by agreement of the land would be applicable under any enactment or Measure authorising, or disposing of the proceeds of, such a sale.
In this section "ecclesiastical property" means land belonging to an ecclesiastical benefice of the Church of England, or being or forming part of a church subject to the jurisdiction of a bishop of any diocese of the Church of England or the site of such a church, or being or forming part of a burial ground subject to such jurisdiction or being diocesan glebe land; and "Diocesan Board of Finance" and "diocesan glebe land" have the same meaning as in the Endowments and Glebe Measure 1976.