Article 15 CPI adjustment of borrowing limits

On each anniversary of the new constitution date, the sums mentioned in articles 13(1)(a) and 14 above shall be adjusted in line with any movement (calculated to one decimal place) in CPI which occurred during the year ended on 31st December immediately preceding the anniversary in question.

Any adjustment referred to in paragraph (1) above, shall be recorded in the next following annual statement of accounts prepared by the Commissioners.

In paragraph (1) above, “CPI” means the Consumer Price Index, being the main measure of inflation in the monthly publication of the Office for National Statistics known as “Monthly Digest of Statistics”, or any successor from time to time of that index.