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GOVERNMENT LOANS ACT (NORTHERN IRELAND) 1957 - SECT 4

Provisions as to loans made to local authorities.

4. Where the Ministry agrees to make any such local loan as is described in
paragraph 1(a) of the First Schedule,

[(a)if the loan is advanced upon the security of a mortgage] the mortgage for
the purpose of securing repayment of the loan and interest thereon shall be
made by a deed according to the form set out in Part I of the Second Schedule
or in such other form as the Ministry may direct; and

[(b)]in any deed of mortgage for the purpose aforesaid [or, if the loan is
advanced otherwise than upon the security of a mortgage, in the agreement for
the loan] there shall be implied and deemed to be included by virtue of this
section the covenants and agreements set forth in Part II of the Second
Schedule, except in so far as may be otherwise expressly provided by such deed
[or agreement].

© 1957 Crown Copyright

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