It is a hallmark of Anglican reformational thought that the gospel provides for only two sacraments thus the promise of imparted grace is limited to baptism and the Lord's Supper. So what grace or authority is given,if any at all, to the clergy through Holy Orders? What makes a priest a priest and a layman a layman?
A calling to the service of Christ to be a priest! Then ordination at the hands of a valid bishop .At the time of his consecration the Bishop received his 'Character', which is Grace & is bestowed by the Holy Ghost to enable the new apostle to face up to the needs of the service which he faces as a descendant of the 12 apostles. It is this that is given to the new candidate for the priest hood so that he can face up to the challenges of his new calling! This is the difference, (so I am told, ) between a layman and a priest, the latter has priestly character bestowed on him,as well to be a priest and to do the job, if that's the right term . This is why I wouldn't accept a moderator, or any other protestant as the equivalent of a catholic bishop. Hope this helps?