Part IV Finance
General financial provisions
C159 Other borrowing powers of development corporations F1....
1
A development corporation F2... may borrow temporarily, by way of overdraft or otherwise, either—
a
in sterling from the Secretary of State, or
b
with the Secretary of State’s consent and the Treasury’s approval, or in accordance with any general authority given by the Secretary of State with the Treasury’s approval, in any currency from any other person.
such sums as the development corporation F3may require for meeting its obligations or performing its functions.
2
With the consent of the Secretary of State and the Treasury’s approval, a development corporation F4... may borrow, otherwise than by way of temporary loan—
a
in any currency from the Commission of F6the European Union or from the European Investment Bank, or
b
in any currency other than sterling from any person, other than the Secretary of State and the bodies mentioned in the preceding paragraph,
such sums as F5it may require for enabling it to meet expenditure properly chargeable to capital account (including the provision of working capital), or to make good to revenue account sums applied in meeting liabilities so chargeable.