# The Local Loans (Increase of Limit) Order 2008, Note: Explanatory note


(This note is not part of the Order)
Section 4(1) of the National Loans Act 1968 limits the aggregate amount that may be outstanding in respect of commitments entered into by the Public Works Loan Commissioners to grant local loans and the principal amount of any local loans.
This Order increases that limit from £55,000 million to £70,000 million.

---
Source: https://www.legislation.gov.uk/ukdsi/2008/9780110846767/note (the official version)
Page: https://openlegislation.uk/draft-local-loans-increase-of-limit-order-2008/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.