Yukon Act

Marginal note:Borrowing and lending

• 23 (1) The Legislature may make laws

  • (a) for the borrowing of money by the Commissioner on behalf of Yukon for territorial, municipal or local purposes;

  • (b) for the lending of money by the Commissioner to any person in Yukon; and

  • (c) for the investing by the Commissioner of surplus money standing to the credit of the Yukon Consolidated Revenue Fund.

• Marginal note:Restriction

  (2) No money may be borrowed under a law made under paragraph (1)(a) without the approval of the Governor in Council.

• Marginal note:Charge on Yukon C.R.F.

  (3) The repayment of money borrowed under a law made under paragraph (1)(a), and the payment of interest on that money, is a charge on and payable out of the Yukon Consolidated Revenue Fund.