Fisheries Act 1981
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Change 1
6 Borrowing powers.
(1) The Authority may borrow for the purpose of financing its activities. (2) The Authority’s powers under this section shall be exercised subject to and in accordance with regulations made by the Ministers with the approval of the Treasury. (3) Subject to subsection (4) below, the amount outstanding at any time of the aggregate of— (a) the sums borrowed by the Authority under this section; and (b) sums borrowed by another person and guaranteed by the Authority under section 3(1)(f) above; shall not exceed £30 million. (4) The Ministers may by an order made with the approval of the Treasury increase or further increase the maximum amount specified in subsection (3) above but not by more than £10 million at a time. (5) An order under subsection (4) above shall not have effect unless approved by a resolution of the House of Commons.
6 Borrowing powers.
(1) The Authority may borrow for the purpose of financing its activities. (2) The Authority’s powers under this section shall be exercised subject to and in accordance with regulations made by the Ministers with the approval of the Treasury. (3) Subject to subsection (4) below, the amount outstanding at any time of the aggregate of— (a) the sums borrowed by the Authority under this section; and (b) sums borrowed by another person and guaranteed by the Authority under section 3(1)(f) above; shall not exceed £30 million. (4) The Ministers may by an order made with the approval of the Treasury increase or further increase the maximum amount specified in subsection (3) above but not by more than £10 million at a time. (5) An order under subsection (4) above shall not have effect unless approved by a resolution of the House of Commons.
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