SCHEDULES

SCHEDULE 5Amendments of the New Towns Act 1981

I113

1

Section 60 (limit on borrowing by development corporations and Commission) is amended as follows.

2

In the heading, omit “and Commission”.

3

In subsection (1)—

a

at the end of paragraph (b), insert “ and ”,

b

omit paragraph (c) and the “and” following it,

c

in paragraph (d), for “(whether by development corporations or by the Commission)” substitute “ by development corporations ”, and

d

for “(2) to (4)” substitute “ (2) and (3) ”.

4

Omit subsection (4).