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Public Borrowing.

  • (1) Cessation of borrowing except for
    • (a) Redemption.
    • (b) Completing works already authorised by Parliament.



    •   ― 602 ―
    • (c) Undertakings which will pay interest from the beginning, and provide 1 per cent. sinking fund.
  • (2) Provision to be made for a sinking fund in connection with renewed loans.
  • (3) Loans to be converted locally as far as practicable

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