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Statutory Instruments

2002 No. 743

LOCAL GOVERNMENT, ENGLAND AND WALES

The Audit Commission (Borrowing Limit) Order 2002

Made

18th March 2002

Coming into force

19th March 2002

The Secretary of State for Transport, Local Government and the Regions, in exercise of the powers conferred on him by paragraph 9(2) of Schedule 1 to the Audit Commission Act 1998( 1 ), hereby makes the following Order a draft of which has been laid before, and approved by a resolution of, the House of Commons.

Citation and commencement

1. This Order may be cited as the Audit Commission (Borrowing Limit) Order 2002 and shall come into force on the day after the day on which it is made.

Maximum borrowing limit

2. —(1) The Secretary of State hereby specifies £12 million as the sum that the borrowed amount may not exceed.

(2) In paragraph (1) above, the “borrowed amount” means the aggregate amount outstanding in respect of the principal of any sums borrowed by the Commission under paragraph 9(1) of Schedule 1 to the Audit Commission Act 1998 .

Signed by authority of the Secretary of State for Transport, Local Government and the Regions

Alan Whitehead

Parliamentary Under Secretary of State,

Department for Transport, Local Government and the Regions

18th March 2002

( 1 )

1998 c. 18 .

Status: This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
The Audit Commission (Borrowing Limit) Order 2002 (2002/743)
Version from: original only

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Status of this instrument

in force Provision is in force
in force* In force only for specified purposes (see footnote)
not in force Not in force in England (may be in force in other geographies, see footnotes)
defined term Defined term
dfn Defined term (alternative style)
footnote commentary transitional and savings in force status related provisions geo extent insert/omit source count in force adj
Defined Term Section/Article ID Scope of Application
borrowed amount art. 2. def_befd16a079

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