The Secretary of State1 or, in relation to Wales, the Welsh Ministers2 may undertake to indemnify certain institutions, bodies or persons3 for the loss of, or damage to4, any object belonging to it while on loan to any other such institution, body or person, in such cases and to such extent as he or they may determine5. However, the Secretary of State or, as the case may be, the Welsh Ministers must not give such an undertaking unless:
(1) he or they consider the loan will
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