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Amendment of Part III. of 26 & 27 Vict. c. 118. as to rate of interest on debenture stock.
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1. Part III. of the Companies Clauses Act, 1863, shall be read and have effect as if the following words, that is to say, “not “exceeding the rate prescribed in the special Act, and if no rate “is prescribed, then not exceeding the rate of four pounds per “centum per annum,” had not been inserted in section 22 of that Act, and any special Act of a company passed before the passing of this Act, prescribing any rate shall be read and have effect as if no rate had been prescribed therein.
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