Explanatory Memorandum

Budget Act (Northern Ireland) 2013

2013 CHAPTER 4

14 March 2013

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 2013-14 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.