Section 60 Limit on borrowing by development corporations ...F10

the sums advanced to development corporations before the commencement of this Act under section 12(1) of the M1New Towns Act 1946 in its application to England and Wales or under section 42(1) of the M2New Towns Act 1965, and, after the commencement of this Act, under section 58(1) above, (which corresponds to those subsections),

the sums advanced to development corporations before the commencement of the M3New Towns (Scotland) Act 1968 under that section 12(1) in its application to Scotland (to which section 37(1) of that Act of 1968 corresponds) and, after the commencement of that Act of 1968, under that section 37(1); F3and

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the sums borrowed F5by development corporations before the commencement of this Act under section 42A of that Act of 1965 and, after the commencement of this Act, under section 59 above (which corresponds to that section), or under section 37A of that Act of 1968,

is advanced to, or borrowed by, a development corporation established for the purposes of a new town in England, and

is advanced or borrowed on or after the date on which section 179 of the Levelling-up and Regeneration Act 2023 comes into force,