Financial limitsE+W+S
[F18(1)The aggregate amount of the sums mentioned in sub-paragraph (2) below shall not exceed £30 million or such greater sum not exceeding £100 million as the Secretary of State may by order made by statutory instrument specify.E+W+S
(2)The sums are—
(a)sums borrowed by all corporations under paragraph 4 above minus repayments made in respect of those sums; and
(b)sums issued by the Treasury in fulfilment of guarantees under paragraph 5 above of debts of all corporations.
(3)No order under sub-paragraph (1) above shall have effect until approved by a resolution of the House of Commons.]
Textual Amendments
F1Para. 8 substituted by Urban Development Corporations (Financial Limits) Act 1987 (c. 57, SIF 123:1, 2), s. 1(1)
Modifications etc. (not altering text)
C1Sch. 31 para. 8: transfer of certain functions (1.7.1999) by S.I. 1999/672, art. 5, Sch. 2