Article G17 Use of credit approvals by the Authority
Where the Authority has received a basic credit approval or a supplementary credit approval, then, if it so determines the approval may be treated wholly or partly—
(a)
as authority not to charge to a revenue account an amount of expenditure which is defrayed during the period for which the approval has effect and which is for capital purposes to which the approval applies; or
(b)
as authority, within the period for which the approval has effect, to enter into or agree to a variation of a credit arrangement for purposes to which the approval applies.