35(1)In section 93 (limit on borrowing), in subsection (2) for the words from “shall not exceed” onwards there shall be substituted “shall not exceed the limit appropriate to the Corporation under subsection (2A)”.
(2)At the end of subsection (2) of that section there shall be inserted the following subsection—
“(2A)The limit referred to in subsection (2) is,—
(a)in the case of the Housing Corporation, £2,000 million or such greater sum not exceeding £3,000 million as the Secretary of State may specify by order made with the consent of the Treasury; and
(b)in the case of Housing for Wales, £250 million or such greater sum not exceeding £300 million as the Secretary of State may specify by order made with the consent of the Treasury.”
(3)In subsections (3) to (5) of that section for “(2)”, in each place where it occurs, there shall be substituted “(2A)”.