Article 5 Interim borrowing powers

Without prejudice to its powers under Schedule 13 to the Local Government Act 1972^f1, the Authority may borrow by way of temporary loan or overdraft from a bank or otherwise any sums which it may require for the purpose of defraying its expenses before 1st April 1990.

The sums borrowed by the Authority under paragraph (1) shall not exceed such amount as the Secretary of State may approve and shall be repaid before 1st April 1991.