- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (23/12/1997)
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Environment Act 1995
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Rhagor o Adnoddau
Changes over time for: Section 48
Version Superseded: 01/07/1999
Alternative versions:
- 28/07/1995- Amendment
- 23/12/1997
Point in time - 01/07/1999- Amendment
- 01/04/2000- Amendment
- 18/07/2013- Amendment
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Point in time view as at 23/12/1997. This version of this provision has been superseded.
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Environment Act 1995, Section 48 is up to date with all changes known to be in force on or before 24 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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48 Borrowing powers.E+W+S
(1)Each new Agency shall be entitled to borrow in accordance with the following provisions of this section, but not otherwise.
(2)Subject to subsection (5) below, each new Agency may—
(a)with the consent of the appropriate Minister, and
(b)with the approval of the Treasury,
borrow temporarily in sterling, by way of overdraft or otherwise, from persons other than the appropriate Ministers, such sums as it may require for meeting its obligations and carrying out its functions.
(3)Subject to subsection (5) below, each new Agency may borrow from the appropriate Minister, by way of temporary loan or otherwise, such sums in sterling as it may require for meeting its obligations and carrying out its functions.
(4)Any consent under subsection (2)(a) above may be granted subject to conditions.
(5)The aggregate amount outstanding in respect of the principal of sums borrowed under this section by a new Agency shall not at any time exceed—
(a)in the case of the Agency, £100 million or such greater sum, not exceeding £160 million, as the Ministers may by order specify; or
(b)in the case of SEPA, £5 million or such greater sum, not exceeding £10 million, as the Secretary of State may by order specify.
(6)The power to make an order under subsection (5) above shall be exercisable by statutory instrument; but no order shall be made under that subsection unless a draft of the order has been laid before, and approved by a resolution of, the House of Commons.
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