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Power to grant mortgages at fixed rates of interest after deduction of Income Tax.
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23.—The Board may, if they think fit, raise the money required for the purposes of this Act on Mortgage of the Bridge Rate upon terms that the interest on such mortgages shall be paid to the mortgagee by the Board at such rate or varying rates per centum per annum that after deduction of Income Tax on such interest the mortgagee will from time to time receive interest on his mortgage at such fixed net rates as may be agreed between him and the Board.
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