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Treasury empowered to authorize Public Works Loan Commissioners to make Advances to Railway Company.
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III. And be it enacted, That it shall be lawful for the said Commissioners of Her Majesty’s Treasury from Time to Time, if they shall think fit, to authorize and require the said Public Works Loan Commissioners to advance and lend to the said Railway Company by such Instalments, on such Terms, and subject to such Conditions and Stipulations as the said Commissioners of Her Majesty’s Treasury shall direct, any Sum or Sums of Money not exceeding in the whole Five hundred thousand Pounds; and the Repayment thereof, with Interest from the Time or respective Times of advancing the same, not exceeding the Rate of Three Pounds Ten Shillings per Centum per Annum, shall be secured by such Mortgage or Mortgages, and in such other Manner as is herein-after mentioned or referred to.
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