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Exchequer and Financial Provisions Act (Northern Ireland) 1950
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14Exercise of statutory borrowing powers by means of overdrafts.N.I.
(1)The Ministry may, for any purpose for which it has power to make issues from the Consolidated Fund, from time to time by agreement with the[F1 Bank overdraw the Consolidated Fund Account], provided that no such overdraft shall be permitted to remain outstanding beyond the last day of the[F2 financial year] in which it has been created.
(2)The creation and cancellation of overdrafts shall not be treated as transactions requiring to be shown in anyF2. . . account having reference to[F1 Consolidated Fund] receipts and issues, but the interest on any such overdraft shall be included in the said accounts and shall be charged on and issued out of the Consolidated Fund.
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