Explanatory Memorandum

Budget Act (Northern Ireland) 2015

2015 CHAPTER 4

12 March 2015

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 2015-16 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.