PART 4Miscellaneous and final

Local loans

112Limits on local loans

1

In section 4(1) of the National Loans Act 1968 (which sets a limit on local loans made in pursuance of section 3 of that Act)—

a

for “£85 billion” substitute “ £115 billion ”, and

b

for “£95 billion” substitute “ £135 billion ”.

2

The Local Loans (Increase of Limit) Order 2019 (SI 2019/1317) is revoked.

3

This section comes into force on such day as the Treasury may by regulations made by statutory instrument appoint.