Transport Act, 1963

Borrowing powers of Board.

12.—Section 28 of the Act of 1950 is hereby amended by—

(a) the insertion in paragraph (a) of subsection (1) (which provides for temporary borrowing by the Board) after “bankers” of “or otherwise”, and

(b) the substitution in paragraph (b) of subsection (2) (which imposes a limit on borrowing for capital purposes) of “fifteen million pounds” for “twelve million pounds” (inserted by the Transport Act, 1955 ).