{
  "url": "https://openlegislation.uk/public-works-loans-act-1875/section-38",
  "json_url": "https://openlegislation.uk/public-works-loans-act-1875/section-38.json",
  "legislation": "ukpga/Vict/38-39/89",
  "legislation_title": "Public Works Loans Act 1875",
  "legislation_url": "https://openlegislation.uk/public-works-loans-act-1875",
  "path": "section/38",
  "kind": "section",
  "number": "38",
  "heading": "Change of security.",
  "text": "The Treasury may, ... if under the circumstances of the case they think fit, accept any security in lieu of any security previously given to them, or of any part of such security, and that subject to such terms and conditions as they direct; so, however, that the substituted security shall be of the character which the Treasury might take if the local loan were originally granted at the time of such substitution, and that no change of security under this section shall extend the period for the repayment of the local loan.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in s. 38 substituted (25.2.2020) by The Public Bodies (Abolition of Public Works Loan Commissioners) Order 2020 (S.I. 2020/176), art. 1(2), Sch. 1 para. 36(2) (with art. 9)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 38 omitted (25.2.2020) by virtue of The Public Bodies (Abolition of Public Works Loan Commissioners) Order 2020 (S.I. 2020/176), art. 1(2), Sch. 1 para. 36(3) (with art. 9)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 38 substituted (25.2.2020) by The Public Bodies (Abolition of Public Works Loan Commissioners) Order 2020 (S.I. 2020/176), art. 1(2), Sch. 1 para. 36(4) (with art. 9)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 38 substituted (25.2.2020) by The Public Bodies (Abolition of Public Works Loan Commissioners) Order 2020 (S.I. 2020/176), art. 1(2), Sch. 1 para. 36(5) (with art. 9)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "S. 38 amended by Public Works Loans Act 1965 (c. 63), Sch. para. 7"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/Vict/38-39/89/section/38",
    "retrieved_at": "2026-10-29T12:47:53.194140+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}