The Police Act 1997 (Provisions in relation to the NCIS Service Authority) Order 1998

Aggregate credit limit

G23.—(1) There shall be an aggregate credit limit for the Authority which, subject to paragraph (2) below, at any time shall be the total at that time of—

(a) the Authority’s temporary revenue borrowing limit;

(b) the Authority’s temporary capital borrowing limit;

(c) the Authority’s credit ceiling, as determined under Schedule 3 to this Order; and

(d) the excess of the Authority’s approved investments and cash over its usable capital receipts;

but the reference in sub-paragraph (d) above to approved investments and cash does not include investments or cash held for the purposes of such a trust fund as is referred to in sub-paragraph (h) of paragraph (2) of article G4 above.

(2) On an application made by the Authority, the Secretary of State may direct that, for any period specified in the direction, the amount which, apart from the direction, would be the Authority’s aggregate credit limit at any time during that period shall be increased by an amount specified in the direction with respect to that period; and any increase specified in a direction under this paragraph may be expressed to have effect subject to compliance with such terms and conditions as may be so specified.

(3) Subject to paragraph (4) below, the Authority’s temporary revenue borrowing limit at any time is whichever is the less of—

(a) the total sums which at that time remain to be received by the Authority and which, as income, fall or will fall to be credited to a revenue account of the Authority for the current financial year; and

(b) the aggregate of—

(i) the total sums which, up to and including that time (whether in the current or a previous financial year), the Authority has disbursed in respect of expenditure which falls to be charged to a revenue account of the Authority for the current financial year; and

(ii) any relevant arrears in respect of which provision has been or is to be charged to such a revenue account or which have been or are to be written off and charged to such a revenue account;

and for the purposes of sub-paragraph (b) (ii) above “relevant arrears” are amounts in respect) b of income which remain to be received by the Authority and which, as income, fall to be credited to a revenue account of the Authority for the financial year beginning two years before the beginning of the current financial year.

(4) At any time in a financial year the amount which, apart from this paragraph, would be an Authority’s temporary revenue borrowing limit shall be increased by the addition of any amount in respect of the immediately preceding financial year, being whichever is the less of—

(a) the excess (if any) of the total sums which, up to and including that time, the Authority have disbursed in respect of expenditure falling to be charged to a revenue account of the Authority for that preceding year over the total sums which, up to and including that time, the Authority have received in respect of income falling to be credited to such a revenue account; and

(b) the total sums which at that time remain to be received by the Authority and which, as income, fall or will fall to be credited to a revenue account of the Authority for that preceding year.

(5) The Authority’s temporary capital borrowing limit at any time is so much of the expenditure defrayed by the Authority for capital purposes in the eighteeen months ending at that time as is due to be, but at that time has not been, re-imbursed by any other person, excluding expenditure which is to be re-imbursed or met out of grants from a Community institution; and for the purpose it is immaterial whether the re-imbursement is due as a result of an obligation arising by statute, contract or otherwise or is to take the form of a grant or other obligation voluntarily undertaken.

(6) If at any time the Authority’s usable capital receipts exceed its approved investments and cash referred to in subparagraph (d) of paragraph (1) above, the amount taken into account under that sub-paragraph shall be a negative amount.

(7) Where an amount taken into account under sub-paragraph (c) or sub-paragraph (d) of paragraph (1) above is a negative amount, it shall be a deduction in determining the total referred to in the sub-paragraph.

(8) Any reference in this article to the Authority’s usable capital receipts at any time is a reference to the usable part of the Authority’s capital receipts so far as they have not been applied before that time.