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London Government Act 1963
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29Notwithstanding anything in section 195 of the Local Government Act 1933, the Council may borrow money for the purpose of expenditure on capital account or on lending if, but only if, the expenditure is authorised by an annual money Act; and where any such expenditure is so authorised the consent of the sanctioning authority within the meaning of Part IX of the said Act of 1933 shall not be required to any borrowing for the purpose thereof.
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