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Advances may be made at such rate of interest as the Treasury shall appoint.
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3. It shall and may be lawful for the said commissioners for the execution of the said Act for the extension and promotion of public works in Ireland to make any loan or advance upon application duly made conformably to the provisions of the said Act and this Act, and which may be approved of by the said commissioners and by the Treasury, at such rate of interest, payable half yearly, . . . as the Treasury shall direct, anything in the said recited Act requiring a different or higher rate of interest on any loan or advance to the contrary notwithstanding.
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