32 Borrowing by the Scottish Ministers
Scotland Act 2012 (2012 c 11) | Legislation

Borrowing

32  Borrowing by the Scottish Ministers

(1)     The 1998 Act is amended as follows.

(2)     Section 66 (borrowing by the Scottish Ministers etc) is amended as follows.

(3)     For subsection (1) substitute—

“(1)     The Scottish Ministers may borrow from the Secretary of State—

(a)     any sums required by them for the purpose of meeting a temporary excess of sums paid out of the Scottish Consolidated Fund over sums paid into that Fund,

(b)     any sums required by them for the purpose of providing a working balance in the Scottish Consolidated Fund, and

(c)     any sums which in accordance with rules determined by the Treasury are required by them to meet current expenditure because of a shortfall in receipts

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