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When Company not to issue Mortgage Debentures.
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48. In case any Company shall cease to be entitled to issue Mortgage Debentures under this Act, such Company shall nevertheless have the Powers and be subject to the Provisions of this Act with respect to all Mortgage Debentures then issued and outstanding; but no Mortgage Debentures shall be issued or renewed by such Company upon any Ground or Pretence whatever, after it shall have ceased to be so entitled.
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