Marginal note:Borrowing and lending
(a) for the borrowing of money by the Commissioner on behalf of Nunavut for territorial, municipal or local purposes;
(b) for the lending of money by the Commissioner to any person in Nunavut; and
(c) for the investing by the Commissioner of surplus money standing to the credit of the Nunavut Consolidated Revenue Fund.
(2) No money may be borrowed under a law made pursuant to paragraph (1)(a) without the approval of the Governor in Council.
Marginal note:Charge on Nunavut C.R.F.
(3) The repayment of money borrowed under a law made pursuant to paragraph (1)(a), and the payment of interest on the money, is a charge on and payable out of the Nunavut Consolidated Revenue Fund.
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