SCHEDULES

SCHEDULE 5Amendments of the New Towns Act 1981

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(1)

Section 60 (limit on borrowing by development corporations and Commission) is amended as follows.

(2)

In the heading, omit “and Commission”.

(3)

In subsection (1)—

(a)

at the end of paragraph (b), insert “ and ”,

(b)

omit paragraph (c) and the “and” following it,

(c)

in paragraph (d), for “(whether by development corporations or by the Commission)” substitute “ by development corporations ”, and

(d)

for “(2) to (4)” substitute “ (2) and (3) ”.

(4)

Omit subsection (4).