Explanatory Memorandum to Budget (Northern Ireland) Order 2003 Explanatory Memorandum

Article 7: Power of the Department of Finance and Personnel to borrow

This article authorises the temporary borrowing by the Department of Finance and Personnel of approximately half the aggregate sum covered by Article 3 (1) and Article 6 (1).  This is a normal safeguard against the possibility of a temporary deficiency arising in the Northern Ireland Consolidated Fund.

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