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United Kingdom Statutory Instruments
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URL: http://www.bailii.org/uk/legis/num_reg/2003/20033176.html

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2003 No. 3176

BROADCASTING

The Channel Four Television Corporation (Borrowing Limit) Order 2003

  Made 4th December 2003 
  Laid before Parliament 8th December 2003 
  Coming into force 29th December 2003 

The Secretary of State, in exercise of the powers conferred upon her by section 202 of the Communications Act 2003[1], and after consulting the Channel Four Television Corporation, hereby, with the consent of the Treasury, makes the following Order:

Citation and commencement
     1. This Order may be cited as the Channel Four Television Corporation (Borrowing Limit) Order 2003 and shall come into force on 29th December 2003.

Limit on borrowing
     2. There shall be a limit on the borrowing that the Channel Four Television Corporation is allowed to undertake, and that limit is specified to be the sum of £200 million.


Tessa Jowell
Secretary of State for Culture, Media and Sport

2nd December 2003



We consent to this Order


Nick Ainger

John Heppell
Two of the Commissioners of Her Majesty's Treasury

4th December 2003


EXPLANATORY NOTE

(This note is not part of the Order)


This Order provides for a borrowing limit of £200 million to apply to the Channel Four Television Corporation. Section 202(3) of the Communications Act 2003 prohibits the borrowing of money by the Corporation if the effect of the borrowing would be to cause the amount of their outstanding borrowing to be, or to remain, in excess of the limit for the time being in force. A full regulatory impact assessment has not been produced for this instrument as it has no impact on the costs of business.

Notes:

 [1] 2003 c. 21.back


ISBN 0 11 048286 7


  Prepared 12 December 2003

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