HC Deb 04 May 1983 vol 42 c368

Lords amendment: No. 4, in page 3, line 11, at beginning insert— ( ) In paragraph 34(3)(6) of Schedule 3 to the principal Act (water authorities to borrow from persons other than the Secretary of State, otherwise than by way of temporary loan, only in a currency other than sterling) after the word "Treasury", there are inserted the words "either in sterling or".")

1.45 am
Mr. Giles Shaw

I beg to move, That this House doth agree with the Lords in the said amendment.

The amendment enables water authorities to borrow long term in sterling from sources other than the Government. Although we doubt that they would find borrowing from private sources more advantageous at present, and have no immediate plans to authorise it, we do not agree with the restriction in legislation, and the amendment alters it to end that restriction.

Question put and agreed to. [Special Entry.]

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