# Health and Social Care Act 2012, Section 145: Borrowing

Extent: E+W

(1) NHS England may—
(a) borrow from a deposit-taker such sums as it may from time to time require for exercising its functions under this Chapter;
(b) give security for sums that it borrows.
(2) But NHS England may not borrow if the effect would be—
(a) to take the aggregate amount outstanding in respect of the principal of sums borrowed by it over such limit as the Secretary of State may by order specify, or
(b) to increase the amount by which the aggregate amount so outstanding exceeds that limit.
(3) In this section, “deposit-taker” means—
(a) a person who has permission under Part 4A of the Financial Services and Markets Act 2000, ...
(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) The definition of “deposit-taker” in subsection (3) must be read with—
(a) section 22 of the Financial Services and Markets Act 2000,
(b) any relevant order under that section, and
(c) Schedule 2 to that Act.

---
Source: https://www.legislation.gov.uk/ukpga/2012/7/section/145 (the official version)
Page: https://openlegislation.uk/health-and-social-care-act-2012/section-145
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.