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The Building Societies (Isle of Man) Order 1987
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1. The form of security which may be taken for an advance under section 14 of the Act in relation to the specified territory is the form (known there as a bond and security)—
(a)acknowledging a mortgage debt and obliging the borrower to pay it, and
(b)securing payment of that mortgage debt on land in the Isle of Man,
in respect of which the following provisions of this Schedule are satisfied.
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