xmlns:atom="http://www.w3.org/2005/Atom"

4Remission of balance of principal and interest of certain local loans

Whereas the principal of the local loan specified in the table contained in the First Schedule to this Act is irrecoverable to the extent of the sum specified in the third column of that table:

And whereas the principal of the local loans specified in the table contained in Part I of the Second Schedule to this Act, which was written off from the assets of the Local Loans Fund by the Acts specified in the fourth column of that table, remains unpaid and is irrecoverable to the extent of the sums specified in the third column of that table:

Now, therefore, the principal of the said loans shall, to the extent aforesaid, be extinguished and all arrears of interest thereon shall be remitted.