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Loans may be made repayable by a Rentcharge calculated at the Rate of 5l. per Cent, per Annum.
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3. Notwithstanding anything in the said first-recited Act, it shall and may be lawful for the Commissioners of Public Works, by and with the Sanction of and subject to such Rules and Regulations as the Lords Commissioners of Her Majestyâ’s Treasury (and in such Cases as the said last-mentioned Commissioners may think proper), to make Loans or Advances for the Purposes of the said recited Acts or this Act, repayable by means of a Rentcharge at Five per Cent, per Annum, payable for a Term of Thirty-five Years instead of Twenty-two Years, as by the said first-recited Act provided; and in case any Loan shall be so made, the Lands specified in the Order of the Commissioners of Public Works for the making of such Loan shall from the Date of such Order become charged with the Payment to Her Majesty of an annual Rentcharge of Five Pounds for every One hundred Pounds of such Loan from Time to Time advanced, and so in proportion for any lesser Amount, and to be payable for the Term of Thirty-five Years, to be computed from the Fifth Day of April or Tenth Day of October which shall next happen after the Advance in respect of which the Rentcharge shall be charged, such Rentcharge to be paid by equal half-yearly Payments on the Fifth Day of April and Tenth Day of October in every Year, the First of such Payments to be made on the Second of such Days which shall happen next after the Issue of any such Advance in respect of which the Rentcharge shall be charged.
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