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Amount of interest payable on loans may be received or retained at time of advance.
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27. It shall and may be lawful to and for the trustees or managers of any society established or acting under the provisions of this Act to demand and receive from the person to whom any loan may be made, at the time of making the same, or to retain as discount for the same, the full amount of interest up to the time fixed for payment of the last instalment which would be due on the whole money so advanced, at a rate not exceeding four-pence in the pound for twenty weeks, and to receive the amount of the principal by instalments at such time or times and in such proportion or proportions as the said trustees or managers may think fit, and to take a note or security for the whole amount of the loan, the same to be sued for and recovered immediately on failure of the payment of any of the instalments, . . .
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