SCHEDULES

SCHEDULE 25 Further amendments of the Regional Development Agencies Act 1998

Borrowing by the Agency

6

(1)

Section 11 (borrowing by the regional development agencies) shall be amended as follows.

(2)

In subsection (6)(a) (collective borrowing limit), for “£200 million” there shall be substituted “ £177.77 million ”.

(3)

After subsection (7) there shall be inserted—

“(8)

This section does not apply in relation to the London Development Agency.”