The British Shipbuilders Borrowing Powers (Increase of Limit) Order 1988

• Citation: S.I. 1988/1401
• Sections: 2

Section 1

This Order may be cited as the British Shipbuilders Borrowing Powers (Increase of Limit) Order 1988 and shall come into force on the day after it is made.

Section 2

The limit of £1550 million specified in section 11(7) of the Aircraft and Shipbuilding Industries Act 1977 in respect of the aggregate of the amounts for the time being outstanding, otherwise than by way of interest, in respect of money borrowed by British Shipbuilders and each of its wholly owned subsidiaries (other than money borrowed on excluded loans as defined in section 11(9) of that Act) and the public dividend capital received by British Shipbuilders, is hereby increased to £1700 million.