Schedule 18, paragraph 5

The debt of at least £50 million referred to in section 72B(1)(a) or 72E(2)(a)— may be incurred at any time during the life of the capital market arrangement or financed project, and may be expressed wholly or partly in foreign currency (in which case the sterling equivalent shall be calculated as at the time when the arrangement is entered into or the project begins).

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Source: legislation.gov.uk · retrieved 2026-09-04