AI-assisted research summary: This Order sets commencement by appointment, lets the Department of Finance and Personnel dispose of a current capital surplus in the Consolidated Fund in a specified way, and raises a listed guarantee limit to £6 million.
The Financial Provisions (Northern Ireland) Order 1989 This Order may be cited as the Financial Provisions (Northern Ireland) Order 1989. This Order shall come into operation on such day or days as the Head of the Department of Finance and Personnel may by order appoint. The Interpretation Act (Northern Ireland) 1954 shall apply to Article 1 and the following provisions of this Order as it applies to a Measure of the Northern Ireland Assembly. The Department of Finance and Personnel may dispose of the current capital surplus in the Consolidated Fund by writing off a corresponding amount of principal due to the Consolidated Fund in respect of advances made under— Article 15(1) of the Housing (Northern Ireland) Order 1981 ; Article 3(1) of the Housing Finance (Northern Ireland) Order 1977 ; section 20(1) of the Housing Executive Act (Northern Ireland) 1971 . In paragraph (1) the “current capital surplus” means such amount as the Department of Finance and Personnel determines to be the amount by which the assets transferred to the Consolidated Fund by Articles 4 to 7 of the Financial Provisions (Northern Ireland) Order 1986 (abolition of certain funds) exceeded the liabilities so transferred by Article 4 of that Order. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . In paragraph 5( a ) of Schedule 9 to the Health and Personal Social Services (Northern Ireland) Order 1972 (guarantee by Department of Finance and Personnel in connection with certain loans to general medical practitioners not to exceed £4 million), for “£4,000,000” there shall be substituted “ £6,000,000 ” . Art. 6 rep. by 1992 NI 1 In Article 9 of the Financial Provisions (Northern Ireland) Order 1983 (terms, etc., of government loans)— in paragraph (5) (publication of notices in the Belfast Gazette), after sub‐paragraph ( a ) there shall be inserted the following sub‐paragraph— the rates of interest chargeable under Article 12 in respect of any variable interest loan or class of variable interest loans specified in the notice; and in paragraph (5A) (rates of interest may be stated using formula) after the words “paragraph (5)(a )” there shall be inserted the words “ or (aa ) ” . In Article 12 of that Order (additional interest on arrears of government loans)— in paragraph (1) (interest chargeable when more than thirty‐one days in arrear), for the words “government loan” there shall be substituted the words “ variable interest loan is in arrear or in respect of any government loan which is not a variable interest loan ” ; after that paragraph there shall be inserted the following paragraph— The rate of interest charged under paragraph (1) in respect of a variable interest loan shall be such as may be determined by the Department under Article 9. in paragraph (2) (calculation of rate of additional interest on arrears of government loans) after the words “paragraph (1)” there shall be inserted the words “ in respect of a government loan which is not a variable interest loan ” . Art. 8 rep. by 2001 c. 6 (NI) Art. 9 rep. by 2004 NI 22 In Article 9(6) of the Financial Provisions (Northern Ireland) Order 1983 (construction of reference to security to include reference to charge imposed by a statutory provision for securing government loans to a district council etc.), the words from “to a district council” to the end shall cease to have effect. The statutory provisions set out in the Schedule are hereby repealed to the extent specified in the third column of the Schedule. power of appointment fully exercised by SR 1989/227 1954 c. 33 (N.I.) 1981 NI 3 1977 NI 8 1971 c. 5 (N.I.) 1986 NI 19 1972 NI 14 1983 NI 1 Art. 4 repealed (2.3.2021) by Harbours (Grants and Loans Limit) Act (Northern Ireland) 2021 (c. 1), ss. 1(2), 2