Explanatory Memorandum

Budget (No. 3) Act (Northern Ireland) 2010

2010 CHAPTER 11

28 June 2010

Commentary on Sections

Section 2: Power of the Department of Finance and Personnel to borrow

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