(1)Subject to subsection (5) of this section, the Authority may, with the consent of or in accordance with a general authorisation given by the Secretary of State, borrow temporarily by overdraft or otherwise such sums in sterling as the Authority may require for performing its functions.
(2)Subject to subsection (5) of this section, the Authority may borrow from the Secretary of State otherwise than by way of temporary loan such sums in sterling as the Authority may require for capital purposes or for fulfilling a guarantee entered into by the Authority.
(3)Subject to subsection (5) of this section, the Authority may with the consent of the Secretary of State borrow in currency other than sterling, from such persons and on such terms as the Secretary of State may from time to time specify, any sum which the Authority has power to borrow in sterling in pursuance of subsection (1) or (2) of this section.
(4)The Secretary of State shall not give consent or an authorisation or specify any person or terms in pursuance of the preceding provisions of this section except with the approval of the Treasury.
(5)The aggregate amount outstanding in respect of the principal of any money borrowed by the Authority under this section and the initial debt shall not exceed £75 million.