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COMPANIES CLAUSES ACT 1869 - SECT 4

Advances to meet debentures falling due.

4. Money borrowed by a company for the purpose of paying off and duly applied
in paying off bonds or mortgages of the company given or made under the
statutory powers of the company shall, so far as the same is so applied, be
deemed money borrowed within and not in excess of such statutory powers.

S.5 rep. by SLR (NI) 1954

© 1869 Crown Copyright

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