# Merchant Shipping Act 1995, Section 216: Limit on borrowings under section 215.


(1) The aggregate amount outstanding in respect of the principal of any sums borrowed under section 215 shall not at any time exceed £100 million.
(2) 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.
(3) 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.

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Source: https://www.legislation.gov.uk/ukpga/1995/21/section/216 (the official version)
Page: https://openlegislation.uk/merchant-shipping-act-1995/section-216
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.