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Power to Commissioners to lend to pier authority.
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10. The Commissioners of Works may, with the consent of the Treasury, make any loan to a pier authority acting in pursuance of any powers of borrowing conferred by this Act, on the security of any tolls leviable under this Act, and (if they think it expedient) of any presentment or rate which such authority (if a local authority) is authorised by this Act to make, and without requiring any further or other security, such loan to be repaid within a period not exceeding fifty years, and to bear interest at the rate of three and a half per centum per annum, or such other rate as may in the judgment of the Treasury be necessary in order to enable the loan to be made without loss to the Exchequer:
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