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Advance by National Debt Commissioners of money authorised by Parliament for Local Loans.
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6.—(1) When Parliament has authorised the advance of any money for the purpose of loans by the Public Works Loan Commissioners, or by the Fishery Board for Scotland, or by the Commissioners of Public Works in Ireland, or by the Irish Land Commissioners, or for the purpose of similar loans by the Treasury, (all which loans are in this Act referred to as Local Loans,) the National Debt Commissioners shall from time to time issue to the said respective Commissioners or Board, or the Treasury, for the purpose of the loans, such sums as may be for the time being required for that purpose, not exceeding in the aggregate, in the case of each of the respective Commissioners and the Board and the Treasury, the amount authorised by Parliament.
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(4) The enactments for the time being in force for the regulation of the said Commissioners and Board, and the money at their disposal, and their securities and the proceedings thereon shall, so far as they are consistent with this Act, respectively apply in the case of money issued to those Commissioners and Board in pursuance of this Act.
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