The Scotland Act 1998 (Variation of Borrowing Power) Order 2015

This Order amends section 66(1A) of the Scotland Act 1998 (c.46). Section 66(1A) provides that the Scottish Ministers may, with the approval of the Treasury, borrow by way of loan sums required by them for the purpose of meeting capital expenditure. The Order provides that, in addition to being able to borrow by loan, the Scottish Ministers can also issue bonds (other than bonds transferrable by delivery).