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RAILWAY COMPANIES ACT 1867 - SECT 26

Borrowing to meet debentures falling due.

26. 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.27 rep. by SLR (NI) 1954

© 1867 Crown Copyright

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