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Loans by Public Works Loan Commissioners to public utility societies.
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4.—(1) Where a loan is made by the Public Works Loan Commissioners under section sixty-seven, subsection (2) (d), of the principal Act, to a public utility society, the words “two thirds” shall be substituted for the words “one moiety.”
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(2) For the purposes of this section a public utility society means a society registered under the Industrial and Provident Societies Act, 1893, or any amendment thereof, the rules whereof prohibit the payment of any interest or dividend at a rate exceeding five pounds per centum per annum.
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