The Health and Personal Social Services (Northern Ireland) Order 1991

Borrowing N.I.

1.—(1) Subject to [F1 any direction given by the Department under paragraph 6 of Schedule 3, to] the provisions of this paragraph and to any limit imposed under the following provisions of this Schedule, for the purpose of its functions an [F2 HSC trust] may borrow (both temporarily, by way of overdraft, and longer term) from the Department or from any other person.

(2) An [F2 HSC trust] may not mortgage or charge any of its assets or in any other way use any of its assets as security for a loan.

[F1 (3) It shall be for the Department, with the consent of the Department of Finance and Personnel, to determine the terms of any loan made by it to an [F2 HSC trust] (including terms as to the payment of interest, if any).]

F1 2001 c. 3 (NI)

F2 Words in Order substituted (1.4.2009) by Health and Social Care (Reform) Act (Northern Ireland) 2009 (c. 1), ss. 32, 34(3), Sch. 6 para. 1(1)(d) (with Sch. 6 para. 1(3)); S.R. 2009/114, art. 2