Public Borrowing.
- (1) Cessation of borrowing except for
- (a) Redemption.
- (b) Completing works already authorised by Parliament.
- (c) Undertakings which will pay interest from the beginning, and provide 1 per cent. sinking fund.
― 602 ―
- (2) Provision to be made for a sinking fund in connection with renewed loans.
- (3) Loans to be converted locally as far as practicable