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It voted unanimously to apologise to the descendents of the slaves after an emotional debate in which the Archbishop of Canterbury, Dr Rowan Williams, urged the Church to share the "shame and sinfulness of our predecessors".
The Church's missionary arm, the Society for the Propagation of the Faith in Foreign Parts, owned the Codrington plantation in Barbados and slaves had the word "Society" branded on their chests with red-hot irons.
The Synod was told that the society's governing body included archbishops of Canterbury. Bishops of London and archbishops of York were involved in its management.