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Article 2

Original text. Later amendments are not shown.

£200 million is hereby specified as the sum which the aggregate amount outstanding by way of principal in respect of–

(a)

money borrowed by the Authority or a wholly owned subsidiary of theirs;

(b)

money borrowed for the repayment of which the Authority or a wholly owned subsidiary of theirs is a guarantor or surety;

(c)

the Authority’s commencing capital debt; and

(d)

sums issued by the Treasury in fulfilment of guarantees under section 5 of the Act (guarantees of borrowing by the Authority or their subsidiaries),

shall not exceed.