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The Berwick Upon Tweed Harbour Revision (Constitution) Order 2009
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- UK Statutory Instruments
- 2009 No. 1231
- Article 16
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CPI adjustment of borrowing limits
16.—(1) On each anniversary of the new constitution date the sums mentioned in articles 14(1)(a) and 15 shall be adjusted in line with any movement (calculated to one decimal place) in CPI which occurred during the year ending on the 31st December immediately preceding the anniversary in question.
(2) Any adjustment made pursuant to paragraph (1), must be recorded in the next following annual statement of accounts prepared by the Commissioners.
(3) In paragraph (1), “CPI” means the Consumer Price Index, being the main measure of inflation published in the monthly publication of the Office for National Statistics known as “Monthly Digest of Statistics”, or any successor from time to time of that index.
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