2.—(1) The Minister may redeem the External Loans by payment, in accordance with this Act, of the sum stated in whichever of the following paragraphs is, in each particular case, applicable, that is to say:—
(a) where there was no payment on account, the sum of one dollar and twenty-five cents for every dollar subscribed, or
(b) where there was a payment on account, a sum equal to the difference between the sum of one dollar and twenty-five cents for every dollar subscribed and the amount of such payment on account.
(2) Redemption of the External Loans under and in accordance with the foregoing sub-section of this section shall be a full satisfaction and discharge of the capital of the External Loans and of all claims in respect of interest thereon.
