http://www.legislation.gov.uk/uksi/2014/3250/madeThe Scotland Act 2012 (Commencement No. 4) Order 2014enKing's Printer of Acts of Parliament2015-07-07CONSTITUTIONAL LAWDEVOLUTION, SCOTLAND Article 2 of this Order commences section 32 of the Scotland Act 2012 (c.11) (the “2012 Act”) on 12th December 2014. This section amends sections 66 and 67 of the Scotland Act 1998 (c.46) to revise the circumstances under which the Scottish Ministers may borrow and set out the main controls and limits on such borrowing. These amendments enable the Scottish Ministers to borrow - subject to HM Treasury’s controls and limits - for the following purposes:to meet a ‘temporary excess of sums paid out of the Scottish Consolidated Fund (SCF) over the sums paid into the fund’ – this means that the Scottish Government can borrow to manage excessive in-year volatility of receipts, where actual income differs greatly from the forecast receipts for that month;to provide a working balance to the SCF, i.e. enough balance to ensure cash-flow;to meet the differences between forecast and outturn receipts for devolved taxes or from income tax charged by virtue of a Scottish rate resolution; andto fund capital expenditure. 2014 No. 3250 (C. 147) Constitutional Law Devolution, Scotland The Scotland Act 2012 (Commencement <Abbreviation Expansion="Number">No.</Abbreviation> 4) Order 2014 Made 8th December 2014 The Treasury make the following Order in exercise of the powers conferred by section 44(4) of the Scotland Act 2012: Citation 1 This Order may be cited as the Scotland Act 2012 (Commencement No. 4) Order 2014. Appointed Day 2 The day appointed for the coming into force of section 32 (borrowing by the Scottish Ministers) of the Scotland Act 2012 is 12th December 2014. Mark Lancaster Gavin Barwell Two of the Lords Commissioners of Her Majesty’s Treasury 8th December 2014 EXPLANATORY NOTE (This note is not part of the Order)

Article 2 of this Order commences section 32 of the Scotland Act 2012 (c.11) (the “2012 Act”) on 12th December 2014. This section amends sections 66 and 67 of the Scotland Act 1998 (c.46) to revise the circumstances under which the Scottish Ministers may borrow and set out the main controls and limits on such borrowing. These amendments enable the Scottish Ministers to borrow - subject to HM Treasury’s controls and limits - for the following purposes: a to meet a ‘temporary excess of sums paid out of the Scottish Consolidated Fund (SCF) over the sums paid into the fund’ – this means that the Scottish Government can borrow to manage excessive in-year volatility of receipts, where actual income differs greatly from the forecast receipts for that month; b to provide a working balance to the SCF, i.e. enough balance to ensure cash-flow; c to meet the differences between forecast and outturn receipts for devolved taxes or from income tax charged by virtue of a Scottish rate resolution; and d to fund capital expenditure.

NOTE AS TO EARLIER COMMENCEMENT ORDERS (This note is not part of the Order)

The following provisions of the 2012 Act have been brought into force by commencement order made before the date of this Order:
ProvisionDate of CommencementS.I No.
Sections 4 and 53rd July 20122012/1710
Section 615th October 20122012/1710
Section 73rd July 20122012/1710
Section 831st October 20122012/2516
Sections 9 and 103rd July 20122012/1710
Section 123rd July 20122012/1710
Section 1331st October 20122012/2516
Sections 14 to 163rd July 20122012/1710
Section 1731st October 20122012/2516
Section 181st August 20122012/2516
Section 1931st October 20122012/2515
Sections 34 to 3822nd April 20132013/6
Section 3931st October 20122012/2516

2012 c. 11.