The Civil Aviation Authority ('CAA') may borrow such sums as it may require for performing its functions1.
The CAA's power to borrow sums in sterling otherwise than by way of temporary loan is limited to borrowing from the Secretary of State2, or (with the consent of the Secretary of State) from the Commission of the European Union or the European Investment Bank, any sums which the CAA may require for capital purposes or for fulfilling a guarantee entered into by the CAA3. Except for this limitation, the CAA may borrow any sums it has power to borrow, whether in sterling
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