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Reduction of minimum rate of interest on loans.
38 & 39 Vict. c. 89.
42 & 43 Vict. c. 77.
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2. Section ten of the Public Works Loans Act, 1875, and section two of the Public Works Loans Act, 1879 (which sections fix the minimum rate of interest on loans), shall, in their application to loans granted after the passing of this Act, have effect as if [2]
four per cent. were therein substituted for five per cent.
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[2 For power to accept 3¼ per cent. in certain cases of loans for canal improvements, see 59 & 60 Vict. c. 42, s. 2. As to reduction of interest on loans on security of local rates, see 60 & 61 Vict. c. 51, s. 1.] |
