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Commissioners may take deposit of bank or government stock, or Exchequer bills, or India bonds, as chief or collateral security;
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35. It shall be lawful for the said commissioners for the execution of this Act, in the place of such real or other security or securities as they are herein-before empowered and directed to take and require, or as collateral thereto, to accept and take, as security for any loan or advance to be made under the provisions of this Act, deposits or transfers of bank or government stock, Exchequer bills, or India bonds, which shall be assigned, transferred, or deposited for that purpose as the said commissioners shall direct; and all such bank or government stock, Exchequer bills, and India bonds, so assigned, transferred, or deposited, shall, in default of payment of such loan, with interest due thereon, in the manner directed and appointed by the said commissioners for the execution of this Act, become and be absolutely vested in the said commissioners, and shall and may be sold and disposed of, or the monies due or payable by virtue thereof shall and may be sued for in due course of law, in the name of their secretary for the time being, for the use of the said commissioners under this Act.
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