{
  "url": "https://openlegislation.uk/national-loans-act-1968/section-4",
  "json_url": "https://openlegislation.uk/national-loans-act-1968/section-4.json",
  "legislation": "ukpga/1968/13",
  "legislation_title": "National Loans Act 1968",
  "legislation_url": "https://openlegislation.uk/national-loans-act-1968",
  "path": "section/4",
  "kind": "section",
  "number": "4",
  "heading": "Limit for local loans.",
  "text": "(1) The aggregate of—\n(a) any commitments of the Treasury outstanding in respect of undertakings entered into by them to grant local loans; and\n(b) any amount outstanding in respect of the principal of any local loans;\nshall not at any time exceed £115 billion or such other (lower or higher) sum, not exceeding £135 billion, as the Treasury may from time to time specify by order made by statutory instrument.\n(2) No order shall be made under this section unless a draft of it has been laid before and approved by a resolution of the Commons House of Parliament.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 4 substituted by Finance Act 1984 (c. 43, SIF 99:3), s. 125(1)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Word in s. 4(1)(a) substituted (25.2.2020) by The Public Bodies (Abolition of Public Works Loan Commissioners) Order 2020 (S.I. 2020/176), art. 1(2), Sch. 1 para. 65 (with art. 9)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Sum in s. 4(1) substituted (12.5.2022) by Finance Act 2020 (c. 14), s. 112(1)(a)(3); S.I. 2022/531, reg. 2"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Sum in s. 4(1) substituted (12.5.2022) by Finance Act 2020 (c. 14), s. 112(1)(b)(3); S.I. 2022/531, reg. 2"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1968/13/section/4",
    "retrieved_at": "2026-10-29T10:54:35.494515+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}