{
  "url": "https://openlegislation.uk/police-act-1997-provisions-in-relation-to-the-ncis-service-authority-order-1998/article-G5",
  "json_url": "https://openlegislation.uk/police-act-1997-provisions-in-relation-to-the-ncis-service-authority-order-1998/article-G5.json",
  "legislation": "uksi/1998/633",
  "legislation_title": "The Police Act 1997 (Provisions in relation to the NCIS Service Authority) Order 1998",
  "legislation_url": "https://openlegislation.uk/police-act-1997-provisions-in-relation-to-the-ncis-service-authority-order-1998",
  "path": "article/G5",
  "kind": "article",
  "number": "G5",
  "heading": "Borrowing powers",
  "text": "(1) Subject to the following provisions of this Part, as part of the proper management of its affairs, the Authority may borrow money for any purpose relevant to its functions under any enactment.\n(2) Except with the approval of the Secretary of State given with the consent of the Treasury, the Authority may not borrow money in any manner other than—\n(a) by overdraft or short term from the Bank of England or from a body or partnership which, at the time the borrowing is undertaken, is an authorised institution within the meaning of the Banking Act 1987; or\n(b) from the National Debt Commissioners or from the Public Works Loan Commissioners; or\n(c) by means of a loan instrument;\nand in sub-paragraph (a) above borrowing “short term” shall be construed in accordance with article G7(5) below.\n(3) In the exercise of the powers conferred by sub-paragraphs (a) to (c) of paragraph (2) above, the Authority may not, without the consent of the Treasury, borrow from a lender outside the United Kingdom or otherwise than in sterling.\n(4) Subject to any provision which applies by virtue of paragraph (5) below, for the purposes of this Part, a loan instrument is any document which, directly or by reference to any other document—\n(a) contains an acknowledgement (by the borrower, the lender or both) that a loan has been made to the Authority or that, in connection with the provision of funds to the Authority, a payment or repayment is due from the Authority; and\n(b) states the dates on which the Authority is to make payments or repayments; and\n(c) states the amount of each of those payments or repayments or the method by which that amount is to be calculated;\n(d) specifies the means, if any, by which the rights or obligations under the instrument are transferable; and\n(e) except in the case of an instrument which is transferable by delivery, specifies the name or description of the person to whom payments or repayments are due; and\n(f) in the case of an instrument issued by two or more local authorities acting jointly, states what proportion of the payments or repayments due are the responsibility of each of the authorities concerned.\n(5) Regulations made under section 43(5) of the 1989 Act shall apply to a loan instrument issued under this Part as they would apply if it was a loan instrument issued by the NCS Service Authority under Part IV of the 1989 Act and any document which, at the time it comes into being, does not comply with any provision which applies by virtue of this paragraph is not a loan instrument for the purposes of this Part; and in the application of those regulations references in those regulations to provisions in local government enactments shall be interpreted as references to the equivalent provisions of this Order.\n(6) Any approval given by the Secretary of State under paragraph (2) above and any consent given by the Treasury under paragraph (3) above may be given generally or in a particular case or by reference to borrowing or securities of a particular description and may be given subject to conditions.\n(7) Paragraphs (2) to (6) above apply to all borrowing powers for the time being available to the Authority under any enactment, whenever passed.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "1987 c. 22."
    }
  ],
  "outstanding_effects": [
    {
      "type": "substituted",
      "affecting": "uksi/2001/3649",
      "affecting_title": "The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001"
    },
    {
      "type": "inserted",
      "affecting": "uksi/2001/3649",
      "affecting_title": "The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1998/633/article/G5",
    "retrieved_at": "2026-10-29T11:35:22.175644+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."
}