# The Local Loans (Increase of Limit) Order 2024

Draft 2024, ISBN 9780348263817

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 Treasury 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-2024/pdf/ukdsi_9780348263817_en.pdf; UK Draft Explanatory Memorandum https://openlegislation.uk/draft-local-loans-increase-of-limit-order-2024/pdf/ukdsiem_9780348263817_en_001.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 the House of Commons.
Local Loans
Made ***
Coming into force in accordance with article 1
The Treasury make this 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 Citation, commencement and extent

(1) This Order may be cited as the Local Loans (Increase of Limit) Order 2024 and comes into force on the day after the day on which it is made.
(2) This Order extends to England and Wales, Scotland and Northern Ireland.

## 2 Limit for local loans

The sum of £135 billion is specified for the purposes of section 4(1) of the National Loans Act 1968 (limit for local loans).

## Signature

Name
Name
Two of the Lords Commissioners of His 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 Treasury to grant local loans and the principal amount of any local loans.
This Order increases that limit from £115 billion to £135 billion.
A full impact assessment has not been produced for this instrument as no, or no significant impact on the private, voluntary, or public sector is foreseen.

---
Source: https://www.legislation.gov.uk/ukdsi/2024/9780348263817 (the official version)
Page: https://openlegislation.uk/draft-local-loans-increase-of-limit-order-2024
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.