http://www.legislation.gov.uk/ukdsi/2002/0110393074/article/1

The Audit Commission (Borrowing Limit) Order 2002

Local government

Council performance

Public finance

King's Printer of Acts of Parliament

2010-11-19

LOCAL GOVERNMENT, ENGLAND AND WALES

This Order relates to the Audit Commission’s borrowing limit. Paragraph 9(2) of Schedule 1 to the Audit Commission Act 1998 provides that the aggregate amount outstanding in respect of the principal of any of the sums borrowed by the Commission may not exceed £4 million. This Order increases that limit to £12 million.