48 Borrowing powers
Environment Act 1995 (1995 c 25) | Legislation

48  Borrowing powers

(1)     Each new Agency shall be entitled to borrow in accordance with the following provisions of this section, but not otherwise.

(2)     Subject to [subsections (5) and (5A)] below, each new Agency may—

(a)     with the consent of the appropriate Minister, and

(b)     [in the case of the Agency only,] with the approval of the Treasury,

borrow temporarily in sterling, by way of overdraft or otherwise, from persons other than the appropriate

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