Ministers and Secretaries (Amendment) Act 2011

89.

Amendment of section 106 of Local Government Act 2001.

89.— Section 106 of the Local Government Act 2001 is amended—

( a) by the substitution of the following subsection for subsection (5):

“(5) The Minister may, after consultation with the Minister for Finance and the Minister for Public Expenditure and Reform, make regulations in relation to borrowing by local authorities.”,

and

( b) by the substitution of the following subsection for subsection (8):

“(8) The appropriate Minister may, after consultation with the Minister for Finance and the Minister for Public Expenditure and Reform, sanction borrowing by a local authority in a currency other than the currency of the State.”.