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(1) The power of borrowing under that Act for harbour purposes shall include the powers of guaranteeing the repayment of any loan to be made to the Isle of Man Harbour Commissioners, under the Acts of Parliament relating to those Commissioners, and of giving the security mentioned in the Isle of Man Loans Act, 1880, as collateral or additional security to the security to be given by the said Harbour Commissioners for any such loan.
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