Commentary on Sections
Section 1: Issue of sum out of the Consolidated Fund for the year ending 31stMarch 2012 and appropriation of that sum
Sub-section (1) authorises the issue out of the Consolidated Fund of Northern Ireland of the revised sum of £15,244,040,000 for 2011-2012.
Sub-section (2) appropriates that sum for the purposes specified in column 1 of Schedule 1.
Sub-section (3) provides authority for cash limits set by the Budget Act (Northern Ireland) 2011 and the Budget (No. 2) Act (Northern Ireland) 2011 to be superseded by the amounts specified in column 2 of Schedule 1 to the Budget Act (Northern Ireland) 2012.
Section 2: Use of resources (other than accruing resources) in the year ending 31st March 2012
This section authorises the use of resources amounting to £16,220,944,000 for 2011-2012 for the purposes specified in column 1 of Schedule 2.
Sub-section (4) provides authority for the resource limits set by the Budget Act (Northern Ireland) 2011 and the Budget (No. 2) Act (Northern Ireland) 2011 to be superseded by the amounts specified in column 2 of Schedule 2 to the Budget Act (Northern Ireland) 2012.
Section 3: Revised limits on use of certain accruing resources in the year ending 31st March 2012
Sub-section (1) sets relevant revised limits on the amount of accruing resources, including both operating and non-operating accruing resources, that may be directed to be used for certain specified purposes in the year ending 31st March 2012 in addition to the resources authorised by Section 2.
Sub-section (2) provides authority for the direction of accruing resources as specified in column 3 of Schedule 2 to be used for the purposes specified in the corresponding entries in column 1 of that Schedule.
Sub-section (3) provides authority for the accruing resource limits set by the Budget (No. 2) Act (Northern Ireland) 2011 to be superseded by the amounts specified in column 3 of Schedule 2 to the Budget Act (Northern Ireland) 2012.
Section 4: Issue of sum out of the Consolidated Fund for the year ending 31st March 2013 and appropriation of that sum
Sub-section (1) authorises the issue out of the Consolidated Fund of Northern Ireland of the sum of £6,987,469,000 for 2012-13.
Sub-section (2) appropriates that sum for the purposes specified in column 1 of Schedule 3.
Section 5: Power of the Department of Finance and Personnel to borrow
This section authorises the temporary borrowing by the Department of Finance and Personnel in 2012-13 of approximately half the sum covered by Section 4 (1). This is a normal safeguard against the possibility of a temporary deficiency arising in the Northern Ireland Consolidated Fund.
Section 6: Use of resources (other than accruing resources) in the year ending 31st March 2013
This section authorises the use of resources amounting to £7,451,346,000 for 2012-2013, for the purposes specified in column 1 of Schedule 4.
Section 7: Short Title
This section sets out the title of the Act.
