Section 12 Control of borrowingI1

A council may not borrow money if doing so would result in a breach of—

The Department may, in relation to specific borrowing by a particular council, by direction disapply subsection (1)(b), so far as relating to any limit applicable under section 14(1).

A council may not, without the consent of the Department of Finance and Personnel, borrow otherwise than in sterling.

This section applies to borrowing under any power available to a council under any statutory provision.