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Changes over time for: Cross Heading: Objects, Terms, and Duration of Loan
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Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 25/02/2020.
Changes to legislation:
There are currently no known outstanding effects for the Public Works Loans Act 1875, Cross Heading: Objects, Terms, and Duration of Loan.
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Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Objects, Terms, and Duration of LoanU.K.
9 [Local loans].U.K.
. . .
The [Treasury] in considering the propriety of granting a [local loan] shall have regard to the sufficiency of the security for its repayment, . . .
10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . U.K.
11 Term of years for repayment of [local loan]. U.K.
Every [local loan] shall be made repayable . . . within a period from the date of the actual advance of such loan, not exceeding the period authorised by a special Act relating to such loan, or if no period be so authorised not exceeding [fifty] years.
Where [a local loan has been granted] repayable within a period less than the full period allowed by the foregoing provisions of this section, the [Treasury], if the repayment of the loan with interest is in their opinion sufficiently secured by such security as is required by this Act, and if they think fit, may extend the period for the repayment of such loan to a period not exceeding the said full period from the date of the advance of such loan.
Where no period is authorised by a special Act relating to the loan, the Treasury, ... stating special circumstances, may either before or after the grant of the loan, extend the period within which the loan is to be repaid to such period as [they see fit].
. . .
Textual Amendments
Modifications etc. (not altering text)
12 Security for [local loans]. U.K.
The [Treasury] before advancing any money on account of [a local loan] shall take security for the repayment of the loan with the interest, consisting of the security authorised by the special Act relating to the loan, or if none is so authorised, of a mortgage of property or of a rate, or of both property and a rate, and (save as herein-after mentioned) of personal security.
The [Treasury] may, if they think fit, dispense with personal security in any case in which in their opinion the mortgaged property or rate is sufficient security for the payment of the principal and interest of the loan within the stipulated period.
Textual Amendments
Modifications etc. (not altering text)
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