# The Audit Commission (Borrowing Limit) Order 2002, Note: Explanatory note


(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.

---
Source: https://www.legislation.gov.uk/ukdsi/2002/0110393074/note (the official version)
Page: https://openlegislation.uk/draft-audit-commission-borrowing-limit-order-2002/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.