borrowing powers

borrowing powers

the power of a public or corporate body to borrow. Most public bodies are invested by statute with power to borrow; the extent of any power in a particular case will depend on the precise language of the statute concerned A UK-registered company has no inherent power to borrow. However, a company that carries on a business has an implied power to borrow money and give security for the purpose of its business. Borrowing powers may be expressly conferred by provision in the company's memorandum of association; a company whose object is to carry on business as a general commercial company is endowed with the power to do all such things as are incidental or conducive (including borrowing) to that end.
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5 bn they hold in unused general reserves, with Britain's very low interest rates they would be able to make use of prudent borrowing powers to set legal no-cuts budgets.
PLAID CYMRU leader Leanne Wood has declared that the "scale and scope" of Welsh borrowing powers needs to be expanded in light of the vote to leave the European Union.
The method for adjusting Scotlands block grant to ensure no detriment as a result of acquiring taxation powers, An independent review of the block grant adjustment by the end of 2021, with a method from the start of 2022 financial year to be jointly agreed by both Governments, 200 million to support implementation of new social security powers, with annual funding for ongoing administration costs, Scotlands capital borrowing limit will be increased to 3 billion, with an annual borrowing limit of 450 million, New resource borrowing powers to deal with increased budget volatility will be capped at 1.
The initial focus was on the PS580m being an agreement from the Treasury for the local authorities, alongside PS120m of borrowed capital utilising their existing borrowing powers, to borrow the money over the long-term, potentially more than 20 years.
He said Northern Ireland needed to end its financial dependency on Britain, take on devolved borrowing powers from London and free itself from the "choke lead" held by the Treasury on spending.
As part of a new package of tax and borrowing powers which are being devolved via the Wales Bill, the Wales Joint Exchequer Committee has agreed to work together to consider if Welsh Ministers should be able to issue bonds.
The announcement came as Plaid Cymru prepared to table its own amendments to the Bill to expand the areas devolved to the Assembly; powers over Welsh general elections; ability to increase its members to 100; reform the funding formula on the basis of need; and increasing the Welsh Government's borrowing powers.
The Conservative-Liberal Democrat coalition missed a spring deadline to respond to the cross-party Silk Commission's call for the Assembly to gain borrowing powers and the ability to vary income tax, subject to a referendum.
Lord Roberts said borrowing powers should be available to the Assembly, but under strict Treasury control.
Mr Forbes is also seeking new borrowing powers that will allow him to spend tens of millions of pounds transforming Newcastle, with the money being repaid through the business rates contributed by those moving into new shops and offices.
County Hall bosses plan to use their borrowing powers - and transfer council-owned land valued at up to pounds 20m for housing development - in a bid to make significant progress on what has been identified as a key priority by local people.