Explanatory Memorandum

Budget (No. 2) Act (Northern Ireland) 2015

2015 CHAPTER 7

24th July 2015

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.