Paragraph 9

the Treasury have given a guarantee under paragraph 36(1) of Schedule 3 to the principal Act in respect of any sum borrowed by the Council; and

any liability of the Council relating to repayment of the principal of, or payment of interest on, the sum so borrowed (or any part of that sum) has become a liability of one or more water authorities, whether by virtue of an order under section 3(4) of this Act or otherwise;