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Power to make loans out of the local loans fund to local authorities for the purpose of repaying loans obtained by the issue of stock.
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3.—(1) Where the Minister for Local Government and Public Health consents to a local authority borrowing money for the purpose of redeeming any stock of that local authority on or after the first redemption date, a loan may, at the discretion of the Minister for Finance, be made out of the local loans fund for the purpose of such redemption.
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