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GOVERNMENT LOANS ACT (NORTHERN IRELAND) 1957 - SECT 6

Variation of terms of repayment of loans.

6.(1) The Ministry may, in such cases and to such extent, if any, as it may
think fit, waive the payment of interest on any Government Loan (including
interest imposed under section five) or the payment of premium imposed under
paragraph (b) of sub-section (4) of section three.

(2) Notwithstanding anything in any enactment, the Ministry may by agreement
with the borrower or borrowers of any Government Loan or class of
Government Loans vary the terms of repayment of that loan or class of loans in
such respects and in such manner as may be agreed upon; and any instrument or
instruments securing the repayment of any loan or class of loans in respect of
which any such variation has been agreed upon shall have effect subject to the
terms of that variation.

© 1957 Crown Copyright

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