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(1)In section 8 of the Industrial Development Act 1982 (c. 52) (selective financial assistance: general powers), for subsection (5) (which specifies the limit on the amount of financial assistance) substitute—
“(5)The limit shall be £12,000 million, but the Secretary of State may, on not more than four occasions, by order made with the consent of the Treasury increase or further increase that limit by a sum specified in the order, being a sum not exceeding £1,000 million.”
(2)The Industrial Development (Financial Assistance) Act 2003 (c. 11) is repealed.
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