16E+W+SIn section 12 of the M1Transport Act 1968 (borrowing powers of Executive), in subsection (4) for the words from “and to borrow money for that purpose” onwards there shall be substituted “ but only if the rate of interest payable by the Executive to the Authority in respect of the loan is not less than that which would be payable by the Authority if they were to borrow the same sum on equivalent terms (disregarding any terms as to interest) from another person ”.
Marginal Citations