Article 17 CPI adjustment of borrowing and reserve fund limits

On each anniversary of the new constitution date, the sums mentioned in articles 14(1)(a) and 15 above and in section 13 of the Falmouth Harbour Act 1958 shall be adjusted in line with any movement (calculated to one decimal place) in CPI which occurred during the year ending on 31st December immediately preceding the anniversary in question.

Any adjustment referred to in paragraph (1) above, shall be recorded in the next following annual statement of accounts prepared by the Commissioners.

In paragraph (1) above “CPI” means the Consumer Price Index, being the main measure of inflation published in the monthly publication of the Office for National Statistics known as “Monthly Digest of Statistics”, or any successor from time to time of that index.