216 Limit on borrowings under section 215.U.K.
(1)The aggregate amount outstanding in respect of the principal of any sums borrowed under section 215 shall not at any time exceed £100 million.
(2)The Secretary of State may, by order, with the approval of the Treasury, increase or further increase that limit, but not by more than £33 million at a time.
(3)An order shall not be made under subsection (2) above unless a draft of the order has been laid before and approved by a resolution of the House of Commons.
Modifications etc. (not altering text)
C1S. 216(1): limit increased (4.12.2024) by The Merchant Shipping (General Lighthouse Authorities) (Increase of Borrowing Limit) Order 2024 (S.I. 2024/1274), arts. 1(b), 2