# Local Government, Planning and Land Act 1980, Paragraph 8


(1) The aggregate amount of the sums mentioned in sub-paragraph (2) below (save as excepted by sub-paragraph (2A)) shall not exceed £30 million or such greater sum not exceeding £100 million as the Secretary of State may by order made by statutory instrument specify.
(2) The sums are—
(a) sums borrowed by all corporations under paragraph 4 above minus repayments made in respect of those sums; and
(b) sums issued by the Treasury in fulfilment of guarantees under paragraph 5 above of debts of all corporations.
(2A) But no sum which is—
(a) borrowed by, or issued in fulfilment of a guarantee of a debt of, a corporation for an urban development area in England, and
(b) borrowed or issued on or after the date on which section 179 of the Levelling-up and Regeneration Act 2023 comes into force,
is to count for the purposes of sub-paragraph (2)(a) or (b).
(3) No order under sub-paragraph (1) above shall have effect until approved by a resolution of the House of Commons.

---
Source: https://www.legislation.gov.uk/ukpga/1980/65/schedule/31/paragraph/8 (the official version)
Page: https://openlegislation.uk/local-government-planning-and-land-act-1980/schedule-31/paragraph-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.