Search Legislation

Advanced Search

Statutory Corporations (Financial Provisions) Act 1975

Status:

This is the original version (as it was originally enacted).

5Miscellaneous provisions as to borrowing in public sector

(1)In the case of any of the bodies corporate specified in Schedule 2 to this Act, its power to borrow money in a currency other than sterling shall not be subject to any statutory restriction as to the persons from whom, or the terms on which, it may borrow; but the power shall be exercisable only with the consent of the Secretary of State and that consent shall require the Treasury's approval.

(2)Section 18(1) to (3) of the [1957 c. 48.] Electricity Act 1957 (estimates of Area Boards' borrowing requirements; allocation of liabilities on loans to Electricity Council, etc.) shall apply in relation to borrowing by the Council, under section 15(3A) of that Act, from the Commission of the European Communities or the European Investment Bank as they apply (by virtue of section 18(4)) in relation to borrowing by means of Government advances ; and in section 19 of that Act (central guarantee fund), in subsection (1)(a), for the words " any temporary loan " there shall be substituted the words " any temporary or other loan ".

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources