Section 300 Increase in limit for local loansI1

(1)

In section 4(1) of the National Loans Act 1968 (local loans granted by the Public Works Loan Commissioners)—

(a)

for “£55,000 million” substitute “ £85 billion ”, and

(b)

for “£70,000 million” substitute “ £95 billion ”.

(2)

The Local Loans (Increase of Limit) Order 2008 (S.I. 2008/3004) is revoked.

(3)

This section comes into force on such day as the Treasury may by order made by statutory instrument appoint.

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