GOVERNMENT LOANS ACT (NORTHERN IRELAND) 1957 - SECT 10 Exercise of borrowing powers for the Loans Fund by the Ministry.

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GOVERNMENT LOANS ACT (NORTHERN IRELAND) 1957 - SECT 10

Exercise of borrowing powers for the Loans Fund by the Ministry.

10.(1) For the purposes of the Loans Fund, the Ministry may borrow money in
any one or more than one of the following ways, that is to say

(a)by the creation and issue of Ulster Loans stock under section eleven and
regulations made thereunder;

(b)by the creation and issue of Ulster Loans securities under section twelve;

(c)by borrowing from the Exchequer;

(d)by obtaining a loan out of any other Fund which in pursuance of any
enactment is under the control of any department of the Government of Northern
Ireland;

(e)by borrowing temporarily from the Exchequer Bank;

<[(f)by the creation of overdrafts on the account of the Loans Fund by agreement with the Exchequer Bank].


(2) Sums required at any time for the redemption or repayment of moneys
borrowed under this section or the payment of interest thereon shall, if the
Loans Fund is at that time insufficient, be charged on and issued to the
Loans Fund out of the Consolidated Fund.

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Northern Irish Legislation

GOVERNMENT LOANS ACT (NORTHERN IRELAND) 1957 - SECT 10