# The British Shipbuilders Borrowing Powers (Increase of Limit) Order 1988, Note: Explanatory note


(This note is not part of the Order)
Section 11(7) of the Aircraft and Shipbuilding Industries Act 1977, as last amended by section 1(1) of the British Shipbuilders (Borrowing Powers) Act 1987, limits the aggregate of the borrowings by British Shipbuilders and its wholly owned subsidiaries (other than money borrowed on excluded loans as defined by section 11(9) of the 1977 Act) and the public dividend capital received by British Shipbuilders to £1550 million. Section 11(7), as so amended, also makes provision for that limit to be increased by order to a sum not exceeding £1800 million, with no single Order increasing the limit by more than £150 million. This Order increases the limit from £1550 million to £1700 million.

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Source: https://www.legislation.gov.uk/uksi/1988/1401/note (the official version)
Page: https://openlegislation.uk/british-shipbuilders-borrowing-powers-increase-of-limit-order-1988/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.