Member

1: Clause 1, page 1, line 26, at end insert— “(3) The Secretary of State must limit any borrowing by the Crown Estate under this Section by regulations made by statutory instrument, and these regulations may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.(4) The first set of regulations made under subsection (3) must limit borrowing to a net debt to asset value ratio of no more than 25 per cent.”Member's explanatory statement This amendment would limit the amount the Commissioners may borrow by regulations subject to the affirmative procedure for statutory instruments.