British Railways Board (Finance) Act 1991 (1991 c. 63)

1 Increased borrowing limit for British Railways Board.

(1) In section 42(6) of the Transport Act 1968 (which, as amended by section 1 of the Transport (Finance) Act 1982, limits the aggregate amount outstanding in respect of the principal of money borrowed by the British Railways Board and its commencing capital debt to £1,100 million or such greater sum not exceeding £1,300 million as the Secretary of State may by order specify) for the words from “shall not exceed” to “as the Minister” there shall be substituted “shall not exceed £3,000 million or such greater sum not exceeding £5,000 million as the Secretary of State”.

[M1] 1968 c. 73.

[M2] 1982 c. 6.

(2) Section 1 of the Transport (Finance) Act 1982, which is superseded by subsection (1) above, is hereby repealed.

2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F2] S. 2 repealed (1.4.1994) by 1993 c. 43, s. 152(3), Sch.14; S.I. 1994/571, art. 5

3 Short title.

This Act may be cited as the British Railways Board (Finance) Act 1991.