Section 48(5)

The aggregate amount outstanding in respect of the principal of sums borrowed under this section by a new Agency shall not at any time exceed— in the case of the Agency, £100 million or such greater sum, not exceeding £160 million, as the Ministers may by order specify; or in the case of SEPA, £5 million or such greater sum, not exceeding £10 million, as the Secretary of State may by order specify.

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