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Housing (Northern Ireland) Order 1981

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Advances by the Department to the ExecutiveN.I.

15.[F1(1) The Department of Finance and Personnel may make advances to the Executive of such amounts and on such terms as that Department thinks fit.

(2) Subject to paragraph (3), there shall be issued out of the Consolidated Fund such sums as are necessary to enable the Department of Finance and Personnel to make advances under paragraph (1), and for the purpose of providing such issues the Department of Finance and Personnel may borrow money.]

(3) The amount by which the aggregate of the sums issued under—

(a)paragraph (2);

(b)Article 3(2) of the Housing Finance (Northern Ireland) Order 1977 [1977 NI 8] ;

(c)section 20(2) of the Housing Executive Act (Northern Ireland) 1971 [1971 c.5] ; and

(d)section 17(2) of the Housing Act (Northern Ireland) 1945 [1945 c.2] ;

exceeds the total amounts of principal repaid to the Consolidated Fund in respect of advances made under paragraph (1), Article 3(1) of the said Order of 1977, section 20(1) of the said Act of 1971 and section 17(1) of the said Act of 1945 shall not at any time exceed[F2 £1,800] million.

[F1(4) In paragraph (3)—

(a)the reference to sums issued under paragraph (2) includes sums issued under that paragraph as it had effect before the day of the coming into operation of Article 25 of the Housing (Northern Ireland) Order 1988, and

(b)the reference to advances made under paragraph (1) includes advances made under that paragraph as it had effect before that day.]

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