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Restriction on rate of interest on debenture stock already authorized.
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2. Provided, that any debenture stock, the creation whereof has been authorized by a company, but which has not been issued before the passing of this Act, shall not be issued on any terms other than those whereon it might have been issued if this Act had not been passed, unless and until the issue thereof, on terms other than as aforesaid, is after the passing of this Act authorized by the company in manner provided in section 22 of the Companies Clauses Act, 1863.
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