She can rule – if she comes first .. read the BBC announcement of Commonwealth Leaders’ Agreement  or The Guardian online article.

Neither will marrying a Roman Catholic be a bar to the throne.

The House of Commons Library has a Note on the Bill of Rights 1689 (which you can download as pdf) giving some historical background.
The Act of Settlement (1700, c.2) on Legislation.gov website has a banner saying  “There are outstanding changes not yet made by the legislation.gov.uk editorial team to Act of Settlement (1700). ” (The italics are mine.)

 

Act of Settlement (1700)

Commonwealth Secretariat website