The Department may advance money from the Consolidation Fund for the purpose of making any of the loans described in Schedule 1.

The aggregate of the sums advanced as government loans (including government loans outstanding under the Act of 1957 immediately before the commencement of this Part), less the total amount of principal repaid to the Consolidated Fund in respect of those loans, shall not exceedF1 £2,400 million.

The Department may borrow money for the purpose of providing for advances under this Article.