Section 48(2)

Subject to subsection (5) below, each new Agency may— borrow temporarily in sterling, by way of overdraft or otherwise, from persons other than the appropriate Ministers, such sums as it may require for meeting its obligations and carrying out its functions. with the consent of the appropriate Minister, and in the case of the Agency only with the approval of the Treasury,

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Source: legislation.gov.uk · retrieved 2026-07-30