Section 216 Limit on borrowings under section 215.
The aggregate amount outstanding in respect of the principal of any sums borrowed under section 215 shall not at any time exceed £100 million.
The Secretary of State may, by order, with the approval of the Treasury, increase or further increase that limit, but not by more than £33 million at a time.
An order shall not be made under subsection (2) above unless a draft of the order has been laid before and approved by a resolution of the House of Commons.
Annotations
Modifications
- C1
S. 216(1): limit increased (4.12.2024) by The Merchant Shipping (General Lighthouse Authorities) (Increase of Borrowing Limit) Order 2024 (S.I. 2024/1274), arts. 1(b), 2
- C2
S. 216(1): limit increased (12.3.2026) by The Merchant Shipping (General Lighthouse Authorities) (Increase of Borrowing Limit) Order 2026 (S.I. 2026/258), arts. 1(b), 2
Notes on Part VIII
Modifications
- C1
Pt. VIII (ss. 193-223) amended (12.1.1998) by S.I. 1997/3016, art. 2
- C2
Pt. 8 modified (20.7.2006) by The General Lighthouse Authorities (Beacons: Automatic Identification System) Order 2006 (S.I. 2006/1977), arts. 1, 2