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Whereas it is expedient that the principal of the local loan specified in the table contained in the First Schedule to this Act should, to the extent specified in the third column of that table, not be reckoned among the assets of the Local Loans Fund:
Now, therefore, the principal of the said loan to the extent aforesaid shall be written off from the account of assets of the Local Loans Fund, and the provisions of section fifteen of the National Debt and Local Loans Act, 1887, shall, so far as applicable, apply thereto.
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