Explanatory Memorandum

Budget (Northern Ireland) Order 2003

2003 No. 420

CommENtary on Articles

Article 7: Power of the Department of Finance and Personnel to borrow

This article authorises the temporary borrowing by the Department of Finance and Personnel of approximately half the aggregate sum covered by Article 3 (1) and Article 6 (1).  This is a normal safeguard against the possibility of a temporary deficiency arising in the Northern Ireland Consolidated Fund.