Summary

1911 Encyclopædia Britannica, Volume 10… (1911)

The terms “old foundation” and “new foundation” used in connexion with the organizing of English cathedral chapters have no reference to the age of the cathedrals. At the time of the Reformation under Henry VIII. the old college chapters were left unchanged, and are referred to as the “old foundations,” but the monastic chapters were all suppressed, consequently new chapters had to be formed for their cathedrals and these constitute the “new foundations.”
Source: Wikisource

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