Railways Act 1993

110 Application of sections 19 to 21A of the Transport Act 1962 to wholly owned subsidiaries of the Board

(1) If the Secretary of State by order so provides, sections 19 to 21A of the [1962 c. 46.] Transport Act 1962 (which, among other things, make provision for and in connection with—

(a) the borrowing powers of the Board,

(b) the making by the Secretary of State of loans to the Board,

(c) the giving by the Treasury of guarantees in respect of sums borrowed by the Board from persons other than the Secretary of State, and

(d) the making by the Secretary of State of grants to the Board),

shall apply in relation to any wholly owned subsidiary of the Board designated in the order as they apply in relation to the Board, but with such modifications as may be specified in the order.

(2) Without prejudice to the generality of the modifications of those sections that may be specified in an order under this section, any such order may include provision imposing limits on the amounts that may be outstanding at any time in respect of the principal of any money borrowed by wholly owned subsidiaries of the Board under section 19 of the [1962 c. 46.] Transport Act 1962 in its application by virtue of this section.