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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

This Order relates to the Audit Commission’s borrowing limit. Paragraph 9(2) of Schedule 1 to the Audit Commission Act 1998 provides that the aggregate amount outstanding in respect of the principal of any of the sums borrowed by the Commission may not exceed £4 million. This Order increases that limit to £12 million.