# Scottish Development Agency Act 1975, Paragraph 3

Extent: N.I.

(1) For the purpose of the exercise of any of their functions, . . . , the Agency may borrow money from the Secretary of State and may, with the consent of the Secretary of State given with the approval of the Treasury, borrow money, whether in sterling or otherwise, from any other person or body, whether in the United Kingdom or elsewhere.
(2) The Agency may borrow money from any of their wholly-owned subsidiaries without obtaining the consent of the Secretary of State.

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Source: https://www.legislation.gov.uk/ukpga/1975/69/schedule/2/paragraph/3 (the official version)
Page: https://openlegislation.uk/scottish-development-agency-act-1975/schedule-2/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.