Restrictions on certain descriptions of financial arrangement
22(1)The Holding Company may from time to time impose restrictions on the descriptions of financial arrangement which may be entered into by Associated British Ports and its subsidiaries.
(2)The Holding Company may, in particular, prohibit Associated British Ports and its subsidiaries from entering into specified descriptions of financial arrangement—
(a)absolutely, or
(b)without the consent of the Holding Company,
and may set a limit on the aggregate amount of the liabilities which Associated British Ports and its subsidiaries may incur in respect of arrangements of any specified description.
(3)Restrictions imposed under this paragraph may be varied or revoked by the Holding Company from time to time.