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The Scotland Act 1998 (Increase of Borrowing Limits) Order 2024

Draft. This instrument was laid in draft and may differ from the one made. Look for the made version under its title.

Draft 2024, ISBN 9780348260526

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Draft Order laid before the House of Commons under paragraphs 1 and 2 of Schedule 7 to the Scotland Act 1998, for approval by resolution of the House of Commons.

CONSTITUTIONAL LAW

DEVOLUTION, SCOTLAND

Made

Coming into force in accordance with article 1(2)

The Secretary of State, with the consent of the Treasury, makes this Order in exercise of the powers conferred by sections 67(3) and 67A(2) of the Scotland Act 1998f1.

A draft of this Order has been laid before and approved by resolution of the House of Commons in accordance with paragraphs 1 and 2 of Schedule 7 to the Scotland Act 1998f2.

Annotations to the whole text

Footnotes

f1

1998 c. 46; section 67 was amended by section 32(6) to (9) of the Scotland Act 2012 (c. 11), and section 20(7) of the Scotland Act 2016 (c. 11); section 67A was inserted by section 32(10) of the Scotland Act 2012 and amended by section 20(8) of the Scotland Act 2016.

f2

Schedule 7 was amended by section 32(12) of the Scotland Act 2012 (c. 11). There are other amendments to this Schedule, but none is relevant.

Contents

  1. 1Citation, commencement and extent
  2. 2Amendments to the Scotland Act 1998
  3. Signature
  4. Explanatory note

1Citation, commencement and extent

(1)

This Order may be cited as the Scotland Act 1998 (Increase of Borrowing Limits) Order 2024.

(2)

It comes into force on the day after the day on which it is made.

(3)

It extends to England and Wales, Scotland and Northern Ireland.

2Amendments to the Scotland Act 1998

(1)

The Scotland Act 1998 is amended as follows.

(2)

In section 67(2) (lending under section 66(1)), for “£1.75 billion” substitute “£1,779.351 million”.

(3)

In section 67A(1) (lending for capital expenditure), for “£3 billion” substitute “£3,050.316 million”.

Signature

Name

Parliamentary Under Secretary of State

Scotland Office

We consent

Name

Name

Two of the Lords Commissioners of His Majesty's Treasury

Explanatory note

(This note is not part of the Order)

This Order amends the Scotland Act 1998 (c. 46) to increase the resources borrowing limit set out in section 67(2) from £1.75 billion to £1,779.351 million, and the capital borrowing limit set out in section 67A(1) from £3 billion to £3,050.316 million.

A full impact assessment has not been produced for this instrument as no, or no significant, impact on the voluntary or public sector is foreseen.