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Commissioners for reduction of national debt may sell, &c. bank annuities, &c. standing in their names pursuant to 9 Geo. 4. c. 92. and 10 Geo. 4. c. 56., and purchase other bank annuities, &c. in lieu thereof.
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25. It shall be lawful for the commissioners for the reduction of the national debt from time to time, and as they shall think fit, to sell and dispose of the bank annuities and Exchequer bills, or any part thereof, which may be now standing or may hereafter stand in their names in the books of the Bank of England, in pursuance of the said Act made and passed in the ninth year of the reign of King George the Fourth, intituled “An Act to consolidate and amend the laws relating to savings banks,” and of the said Act made and passed in the tenth year of the reign of His late Majesty George the Fourth, intituled “An Act to consolidate and amend the laws relating to friendly societies,” and with the proceeds thereof to purchase in lieu thereof any other description of bank annuities, or annuities for terms of years, or Exchequer bills.
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