Part 1

The Marine Management Organisation
Chapter 4

Miscellaneous, general and supplemental provisions

Financial provisions

Borrowing powers
33
1
The MMO may borrow money, but only—
a
in accordance with the following provisions of this section, and
b
subject to section 34 (limit on borrowing).
2
The MMO may borrow such sums as it may require for meeting its obligations and carrying out its functions.
3
The MMO may borrow any such sums—
a
from the Secretary of State, by way of loan, or
b
from persons other than the Secretary of State, by way of overdraft or otherwise.
4
The MMO may borrow by virtue of subsection (3)(b) only if the Secretary of State consents.
5
Any consent under subsection (4) may be given subject to conditions.
S. 33 in force at 12.1.2010 by S.I. 2009/3345, art. 2, Sch. para. 5