National Loans Act 1968
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Change 1
4 Limit for local loans.
(1) The aggregate of— (a) any commitments of the Treasury outstanding in respect of undertakings entered into by them to grant local loans; and (b) any amount outstanding in respect of the principal of any local loans; shall not at any time exceed £115 billion or such other (lower or higher) sum, not exceeding £135 billion, as the Treasury may from time to time specify by order made by statutory instrument. (2) No order shall be made under this section unless a draft of it has been laid before and approved by a resolution of the Commons House of Parliament.
4 Limit for local loans.
(1) The aggregate of— (a) any commitments of the Treasury outstanding in respect of undertakings entered into by them to grant local loans; and (b) any amount outstanding in respect of the principal of any local loans; shall not at any time exceed £115 billion or such other (lower or higher) sum, not exceeding £135 billion, as the Treasury may from time to time specify by order made by statutory instrument. (2) No order shall be made under this section unless a draft of it has been laid before and approved by a resolution of the Commons House of Parliament.
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