{
  "url": "https://openlegislation.uk/langstone-harbour-revision-order-1990/article-3",
  "json_url": "https://openlegislation.uk/langstone-harbour-revision-order-1990/article-3.json",
  "legislation": "uksi/1990/615",
  "legislation_title": "The Langstone Harbour Revision Order 1990",
  "legislation_url": "https://openlegislation.uk/langstone-harbour-revision-order-1990",
  "path": "article/3",
  "kind": "article",
  "number": "3",
  "heading": "General borrowing powers",
  "text": "(1) The Board may borrow money upon the security of all or any of the revenues and property of the Board and by any method or methods they see fit:\nProvided that—\n(a) the total amount of monies borrowed under this article and outstanding at any one time shall not exceed £500,000;\n(b) in calculating for the purpose of proviso (a) above the amount of money borrowed by the Board and outstanding at any one time there shall be excluded any monies borrowed for use within twelve months of the date of borrowing for repayment of any sum for the time being outstanding by way of principal on any amount previously borrowed.\n(2) Monies borrowed by the Board under this article shall be applied only to purposes to which capital money is properly applicable.\n(3) For the purposes of the last foregoing paragraph, but without prejudice to the generality thereof, purposes to which capital money is properly applicable shall be deemed to include:—\n(a) the payment of any interest falling due within the five years immediately following the date of the borrowing of any sum of money borrowed by the Board under this article; and\n(b) the repayment within twelve months of the date of borrowing of any sum for the time being outstanding by way of principal on any amount previously borrowed.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1990/615/article/3",
    "retrieved_at": "2026-10-29T15:23:29.494120+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."
}