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Article 17 Borrowing

Original text. Later amendments are not shown.

(1)

The Authority, or a subsidiary of the Authority, may borrow, by any methods it sees fit, such sums of money as it thinks necessary for the purposes of the port undertaking.

(2)

A sum of money borrowed under paragraph (1) by the Authority, or any subsidiary of the Authority, may be borrowed upon the security of some or all of—

(a)

its assets;

(b)

its revenues;

(c)

a combination of its assets and revenues.

(3)

The Authority, or a subsidiary of the Authority, may effect such arrangements as it thinks fit to mitigate against any financial risk incurred in the exercise of its powers under paragraph (1).