# Local Government Finance Act (Northern Ireland) 2011, Section 12: Control of borrowing


(1) A council may not borrow money if doing so would result in a breach of—
(a) the limit determined by it under section 13, or
(b) any limit applicable to it under section 14.
(2) The Department may, in relation to specific borrowing by a particular council, by direction disapply subsection (1)(b), so far as relating to any limit applicable under section 14(1).
(3) A council may not, without the consent of the Department of Finance and Personnel, borrow otherwise than in sterling.
(4) This section applies to borrowing under any power available to a council under any statutory provision.

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Source: https://www.legislation.gov.uk/nia/2011/10/section/12 (the official version)
Page: https://openlegislation.uk/local-government-finance-act-northern-ireland-2011/section-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.