Part 5Miscellaneous

22Loans to Consolidated Fund of Northern Ireland: increase of limits

(1)

Amend section 1 of the Northern Ireland (Loans) Act 1975 (c. 83) as follows.

(2)

In subsection (2) (limit on loans to the Consolidated Fund of Northern Ireland), for “£2,000 million” substitute “ £3,000 million ”.

(3)

In subsection (5) (power to increase the limit by order)—

(a)

omit “, on not more than one occasion,”,

(b)

for “the limit in subsection (2)” substitute “ the limit for the time being specified in subsection (2) ”, and

(c)

for “£300 million” substitute “ £500 million ”.