Explanatory Memorandum

Budget Act (Northern Ireland) 2009

2009 CHAPTER 5

6 March 2009

Commentary on Sections

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 2009-10 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.