(1)It shall be the duty of the Chapter of a cathedral, in accordance with rules made under section 26 of the Care of Churches and Ecclesiastical Jurisdiction Measure 1991, to compile and maintain an inventory of all objects—
(a)the property in which is vested in the corporate body, or
(b)which are in the possession or custody of the corporate body, or
(c)to whose possession or custody the corporate body is entitled,
which the fabric advisory committee considers to be of architectural, archaeological, artistic or historic interest.
(2)The compilation of the inventory under subsection (1) shall be completed within such period as the Commission, after consultation with the Chapter and the fabric advisory committee, determines, being such period as it considers reasonable, having regard to the particular circumstances of each case, and different periods may be specified by the Commission for different parts of the inventory.
(3)The Chapter shall make an annual report to the fabric advisory committee on the contents of the inventory or on progress made in compiling the inventory, which shall, in particular, certify the accuracy of the inventory or any part of it which has been compiled and describe any alterations which have been made to the inventory during the 12 months preceding the report.
(4)It shall be the duty of the fabric advisory committee of a cathedral church to designate those objects included in the inventory compiled and maintained for the cathedral church under subsection (1) which the committee considers, after consultation with the Commission, to be of outstanding architectural, archaeological, artistic or historic interest.