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Changes over time for: Paragraph 8


Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 16/10/2005.
Changes to legislation:
Transport Act 2000, Paragraph 8 is up to date with all changes known to be in force on or before 09 March 2025. 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.

Changes to Legislation
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Nodiadau Esboniadol
8(1)The Authority is entitled to borrow in accordance with the following provisions of this paragraph, but not otherwise.E+W+S
(2)Subject to sub-paragraph (5), the Authority may borrow from the Secretary of State such sums in sterling as it may require for meeting its obligations and carrying out its functions.
(3)Subject to sub-paragraphs (4) and (5), the Authority may borrow temporarily in sterling (by way of overdraft or otherwise) from persons other than the Secretary of State such sums as it may require for meeting its obligations and carrying out its functions.
(4)Borrowing under sub-paragraph (3) requires the consent of the Secretary of State which will not be given without the approval of the Treasury.
(5)The Authority may not borrow if the effect would be—
(a)to take the aggregate amount outstanding in respect of the principal of sums borrowed by it over its borrowing limit, or
(b)to increase the amount by which the aggregate amount so outstanding exceeds that limit.
(6)The Authority’s borrowing limit is—
(a)£3 billion, or
(b)such greater sum as the Secretary of State may, with the approval of the Treasury, specify by order made by statutory instrument.
(7)An order under sub-paragraph (6)(b) shall not be made unless a draft of the statutory instrument containing it has been laid before, and approved by a resolution of, the House of Commons.
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