Scotland Bill

Amendment
to be moved
in committee

[Supplementary to the Marshalled List]

After Clause 19

LORD KERR OF KINLOCHARD

 

Insert the following new Clause—

“Borrowing powers

(1)     Section 66 of the Scotland Act 1998 is amended as follows.

(2)     For subsections (1A) and (1B) substitute—

“(1A)    Subject to subsection (1B), the Scottish Ministers may borrow by
way of loan or by the issue of bonds (but not bonds transferable by
delivery) any sums required by them.

(1B)    Borrowing by Scottish Ministers shall be subject to—

(a)   annual limits; and

(b)   an overall ceiling.

(1C)    The annual limits and the overall ceiling shall be set by regulations
made by the Treasury, following consultation with Scottish
Ministers.

(1D)    Regulations under subsection (1C) may not be made unless a draft
of the regulations has been laid before and approved by a resolution
of each House of Parliament.””

Prepared 15th December 2015