(2) In the heading for “loans” substitute “local loans”. 

(3) For “Loan Commissioners” substitute “Treasury” in each place occurring. 

(4) For “a loan” substitute “a local loan”. 

17. —(1) Section 18 (charge on property and priority of loan by the Commissioners) is amended as follows. 

(2) In the heading for “of loan by the Commissioners” substitute “of local loans by the Treasury”. 

(3) For “a loan” substitute “a local loan”. 

(4) For “Loan Commissioners” substitute “Treasury”. 

(5) For “the Commissioners” substitute “the Treasury” in each place occurring. 

18. —(1) Section 19 (charges on rate of loan and loan not to be repudiated by locality having had the benefit of it) is amended as follows. 

(2) In the heading for “loan and loan” substitute “local loan and local loan”. 

(3) For “a loan” substitute “a local loan”. 

(4) For “Loan Commissioners” substitute “Treasury”. 

(5) For “the Commissioners” substitute “the Treasury” in each place occurring. 

19. —(1) Section 20 (securities to be taken in name of secretary) is amended as follows. 

(2) In the heading for “secretary” substitute “the Public Works Loans Secretary”. 

(3) For “any loan granted by the Loan Commissioners in pursuance of this Act” substitute “any local loan”. 

(4) For “secretary of the Commissioners on their behalf” substitute “Public Works Loans Secretary”. 

(5) For “to the Commissioners” substitute “to the Treasury”. 

20. —(1) Section 21 (taking possession by commissioners of property on default of payment) is amended as follows. 

(2) In the heading for “Commissioners” substitute “the Treasury”. 

(3) For “any loan” substitute “any local loan”. 

(4) For “Loan Commissioners” substitute “Treasury”. 

(5) For “the Commissioners” substitute “the Treasury”. 

21. —(1) Section 22 (powers of Commissioners when in possession) is amended as follows. 

(2) In the heading for “Commissioners” substitute “the Treasury”. 

(3) In the words before subsection (1)— 

(a) for “Loan Commissioners” substitute “Treasury”; and 

(b) after “authorised” insert “by this Act”. 

(4) In subsection (1) for “secretary of the Commissioners” substitute “Public Works Loans Secretary”. 

(5) In subsection (2) – 

(a) for “The Commissioners may by themselves” substitute “The Treasury,”; 

(b) after “aforesaid” insert “, may”; and 

(c) for “their secretary” substitute “the Public Works Loans Secretary”. 

(6) In subsection (3) – 

(a) for “Commissioners” substitute “Treasury” in both places occurring; and 

(b) for “their secretary” substitute “the Public Works Loans Secretary”. 

