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52.—(1) Section 4 (repayment of loans made by Public Works Loan Commissioners) is amended as follows.
(2) In the heading, for “loans made by Public Works Loans Commissioners” substitute “local loans made by the Treasury”.
(3) In subsection (1) for “Public Works Loan Commissioners” substitute “Treasury, as a local loan,”.
(4) In subsection (2) –
(a)for “said Act” substitute “Public Works Loans Act 1875”; and
(b)for “from the said Commissioners, or to prevent the said Commissioners or” substitute “or to prevent”.
(5) In subsection (3) –
(a)for “the said Commissioners” substitute “the Treasury, as a local loan,”; and
(b)for “the Commissioners” substitute “the Treasury”.
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