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Leasehold Reform, Housing and Urban Development Act 1993

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Financial limits

7(1)The aggregate amount at any time of borrowed sums shall not exceed £200 million or such greater sum not exceeding £300 million as the Secretary of State may by order made by statutory instrument specify.

(2)In sub-paragraph (1) “borrowed sums” means sums borrowed by the Agency under paragraph 4 minus repayments made or treated as made in respect of those sums.

(3)No order shall be made under sub-paragraph (1) unless a draft of the order has been laid before and approved by resolution of the House of Commons.

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