Finance Act 2020
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Change 1
112 Limits on local loans
(1) In section 4(1) of the National Loans Act 1968 (which sets a limit on local loans made in pursuance of section 3 of that Act)— (a) for “£85 billion” substitute “ £115 billion ”, and (b) for “£95 billion” substitute “ £135 billion ”. (2) The Local Loans (Increase of Limit) Order 2019 (SI 2019/1317) is revoked. (3) This section comes into force on such day as the Treasury may by regulations made by statutory instrument appoint.
112 Limits on local loans
(1) In section 4(1) of the National Loans Act 1968 (which sets a limit on local loans made in pursuance of section 3 of that Act)— (a) for “£85 billion” substitute “ £115 billion ”, and (b) for “£95 billion” substitute “ £135 billion ”. (2) The Local Loans (Increase of Limit) Order 2019 (SI 2019/1317) is revoked. (3) This section comes into force on such day as the Treasury may by regulations made by statutory instrument appoint.
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