Explanatory Notes

Scotland Act 1998

1998 CHAPTER 46

19th November 1998

Commentary

Part III: Financial Provisions

SECTION 66: Borrowing by the Scottish Ministers, etc.
General

This section, together with section 67, puts in place arrangements for short-term borrowing by the Scottish Executive to cover deficits or to provide a working balance in the Scottish Consolidated Fund. This section deals with the circumstances under which the Scottish Ministers may borrow from the Secretary of State and arrangements for repayments. Section 67 deals with lending by the Secretary of State for such sums as are required by him for making loans under section 66.