Part 6 Borrowing, securities, derivatives, investment, banking, and guarantees

Part 6: substituted, on 25 January 2005, by section 16 of the Public Finance Amendment Act 2004 (2004 No 113).

Part 6 heading: amended, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).

Subpart 1—Borrowing

Subpart 1 heading: inserted, on 25 January 2005, by section 16 of the Public Finance Amendment Act 2004 (2004 No 113).

Limits on borrowing by the Crown

Heading: inserted, on 25 January 2005, by section 16 of the Public Finance Amendment Act 2004 (2004 No 113).

46 The Crown must not borrow except under statute

Except as expressly authorised by any Act, it is not lawful for—

(a)

the Crown to borrow money; or

(b)

any person to lend money to the Crown.

Section 46: substituted, on 25 January 2005, by section 16 of the Public Finance Amendment Act 2004 (2004 No 113).