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(1)The aggregate amount outstanding, otherwise than by way of interest, in respect of—
(a)sums borrowed by the Board under section 9 of this Act;
(b)sums issued by the Treasury in fulfilment of guarantees under section 10 of this Act; and
(c)sums paid to the Board by the Secretary of State under section 11 of this Act;
shall not exceed the limit specified in subsection (2) below.
(2)The said limit is £25 million, but the Secretary of State may by order made with the consent of the Treasury raise the limit to £40 million.
(3)No order shall be made under subsection (2) above unless a draft of the order has been laid before, and approved by a resolution of, the House of Commons.
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