# The Port of Tyne Harbour Revision Order 2008, Note: Explanatory note


(This note is not part of the Order)
This Order amends the borrowing powers of the Port of Tyne Authority (“the Authority”).
The Authority’s borrowing powers and those of their subsidiaries were capped at £5 million for permanent borrowings and £4 million for temporary borrowings unless the Secretary of State consented in either case to a higher amount.
Article 2 authorises the Authority and their subsidiaries to borrow without any limit such sums of money as they think necessary.
Article 3 revokes the earlier borrowing powers.

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Source: https://www.legislation.gov.uk/uksi/2008/1817/note (the official version)
Page: https://openlegislation.uk/port-of-tyne-harbour-revision-order-2008/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.