{
  "url": "https://openlegislation.uk/draft-merchant-shipping-general-lighthouse-authorities-increase-of-borrowing-limit-order-2027/note",
  "json_url": "https://openlegislation.uk/draft-merchant-shipping-general-lighthouse-authorities-increase-of-borrowing-limit-order-2027/note.json",
  "legislation": "ukdsi/2027/9780348288537",
  "legislation_title": "The Merchant Shipping (General Lighthouse Authorities) (Increase of Borrowing Limit) Order 2027",
  "legislation_url": "https://openlegislation.uk/draft-merchant-shipping-general-lighthouse-authorities-increase-of-borrowing-limit-order-2027",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Order)\nUnder section 215 of the Merchant Shipping Act 1995 (“the 1995 Act”), general lighthouse authorities may borrow money for certain purposes and subject to obtaining the necessary consents. Under section 216(1) of the 1995 Act, the aggregate amount that may be outstanding in respect of the principal of any sums borrowed is limited to £100 million. Under section 216(2) of the 1995 Act, the Secretary of State may (with the Treasury’s approval) increase or further increase that limit by not more than £33 million at a time. This limit was increased to £133 million with effect from 31st December 2024 by the Merchant Shipping (General Lighthouse Authorities) (Increase of Borrowing Limit) Order 2024 (S.I. 2024/1274). This limit was further increased to £166 million with effect from 31st March 2026 by the Merchant Shipping (General Lighthouse Authorities) (Increase of Borrowing Limit) Order 2026 (S.I. 2026/258).\nThis Order increases that limit by a further £33 million, i.e. to £199 million, with effect from 31st January 2027, in accordance with section 216(2) of the 1995 Act.\nNo impact assessment has been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.\nAn Explanatory Memorandum and a de minimis assessment have been prepared and are published alongside the instrument at www.legislation.gov.uk.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2027/9780348288537/note",
    "retrieved_at": "2026-11-05T03:43:41.810587+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}