s 2 Power of British Authority
(1) Subject to subsection (2) of this section, the British Airports Authority may borrow, from such persons and on such terms as the Secretary of State may with the approval of the Treasury from time to time specify, sums in currencies other than sterling— (a) by way of temporary loan, for the purpose of meeting the obligations of the Authority or discharging its functions under the Airports Authority Act 1965; or (b) otherwise than by way of temporary loan, for any of the purposes specified in subsection (2) of section 5 of that Act (capital expenditure etc.). (2) For the purposes of subsection (3) of the said section 5 any sums borrowed under this section shall be treated as borrowed under that section, and for the purposes of any limit imposed under subsection (1) of that section (limit on temporary loans) any sums borrowed by the Authority under this section by way of temporary loan shall be treated as borrowed under that subsection. (3) Except as provided in this section the Authority shall not have power to borrow sums in currencies other than sterling; and this section shall have effect notwithstanding subsection (4) of the said section 5 (which provides that the Authority shall not have power to borrow except in accordance with that section).