OpenLegislation

Article 15 Temporary borrowing powers

Original text. Later amendments are not shown.

(1)

The Authority may temporarily, by way of overdraft or otherwise, borrow such sums of money as the Authority may require.

(2)

The total amount outstanding at any one time of money borrowed under paragraph (1) must not exceed two hundred and fifty thousand pounds (or that sum as adjusted in accordance with article 16).