Article 16 CPI adjustment of borrowing limits

On each anniversary of the new constitution date the Authority must calculate an adjustment of the figures mentioned in articles 14(1)(a) and 15(2) in line with any movement (calculated to one decimal place) in the CPI which occurred during the year ended on 31st December immediately preceding the anniversary in question.

Any adjustment calculated under paragraph (1) must be recorded in the next following annual statement of accounts prepared by the Authority.

In paragraph (1), “CPI” means the general index of consumer prices for all items published in the monthly publication of the Office for National Statistics known as “Monthly Digest of Statistics”, or any successor from time to time of that index.