# The Local Loans (Increase of Limit) Order 2019

Draft 2019, ISBN 9780111190142

Section 4(1) of the National Loans Act 1968 (c. 13) 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.

Made under: National Loans Act 1968 (Section 4)

PDFs: Printed copy https://openlegislation.uk/draft-local-loans-increase-of-limit-order-2019/pdf/ukdsi_9780111190142_en.pdf; UK Draft Explanatory Memorandum https://openlegislation.uk/draft-local-loans-increase-of-limit-order-2019/pdf/ukdsiem_9780111190142_en.pdf

## Introductory text

Draft Order laid before the House of Commons under section 4(2) of the National Loans Act 1968, for approval by resolution of that House.
Local Loans
Made ***
Coming into force in accordance with article 1
The Treasury make the following Order in exercise of the powers conferred by section 4(1) of the National Loans Act 1968 (“the Act”).
In accordance with section 4(2) of the Act, a draft of this Order has been laid before and approved by resolution of the House of Commons.

## 1 

This Order may be cited as the Local Loans (Increase of Limit) Order 2019, and comes into force on the day after the day on which it is made.

## 2 

The sum of £95 billion is specified for the purposes of section 4(1) of the Act.

## Signature

Two of the Lords Commissioners of Her Majesty’s Treasury
Date

## Explanatory note

(This note is not part of the Order)
Section 4(1) of the National Loans Act 1968 (c. 13) 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 £85 billion to £95 billion.
A full impact assessment has not been produced for this instrument as no impact on the private, voluntary or public sector is foreseen.

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Source: https://www.legislation.gov.uk/ukdsi/2019/9780111190142 (the official version)
Page: https://openlegislation.uk/draft-local-loans-increase-of-limit-order-2019
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.