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5.—(1) Section 2 (such priority not to give validity to any security which could not have been given if this Act had not passed, etc) is amended as follows.
(2) For “Commissioners” substitute “Treasury” in the first and last place occurring.
(3) For “secretary for the time being of the Commissioners” substitute “Public Works Loans Secretary (see section 6 of the Public Works Loans Act 1875)”.
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