Transport Act, 1981

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Borrowing by Board for capital purposes.

2.—The following are substituted for sections 5 (2) and 5 (4) respectively of the Act of 1964 (inserted by the Act of 1974):

“(2) The aggregate at any one time of borrowings under this section which have not been repaid shall not exceed £180,000,000.

(4) In relation to the aggregate at any one time of borrowings specified in subsection (2) of this section, borrowings in a currency other than the currency of the State shall be calculated as the equivalent in the currency of the State by reference to the exchange rate prevailing at the time of the borrowing.”.