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Inscribed Stock (Issue and Renewals) Act 1912
6No increase of amount of loan
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6 No increase of amount of loan
6 No increase of amount of loan
Nothing in this Act shall authorise an increase in the authorised amount of any loan:
Provided that where, in issuing new debentures or stock for conversion or renewal purposes, it is necessary to issue such debentures or stock at or below par, an additional amount of such debentures or stock may be issued so as to provide for the full amount required for such conversion or renewal.
s 6: Am 1914 No 30, sec 3 (f).