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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

This Order amends the Sutton Harbour Revision Orders 1969 and 1986 so as to—

(a)

enable the Sutton Harbour Company to borrow money upon the security of all or any of its assets for the time being and of its revenues by any methods it considers expedient (article 3(a));

(b)

raise the amount of money that the company can borrow in this way from ten million pounds to sixty million pounds (article 3(b)) and provide for this figure to alter in line with changes in the Consumer Price Index (articles 3(b) and 4); and

(c)

raise the amount that the company can borrow temporarily by overdraft or otherwise from five hundred thousand pounds to one million pounds (article 5),

with associated technical amendments in articles 2 and 6.