Member

The framework document, which is a high-level public document between the Crown Estate and the Treasury, will be updated prior to the commencement of the Bill to mention the new borrowing powers. As a public document, that will also be published. The specific changes to the framework document needed as a result of the Bill will include: a reference to the 1961 Act being amended by the legislation that we are debating today, assuming that it passes, and the changes that that makes; amendments to the section on borrowing to state that it is permitted as set out in the revised 1961 Act and is in accordance with the terms of the memorandum of understanding; and amendments to the section on the board to reflect the change in the maximum number of commissioners.