Revised Laws of Saint Lucia (2021)

PART 8
PUBLIC DEBT

38.   Borrowing by means of advances

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    (1)   The Minister may, by resolution of Parliament, borrow money from a bank or other financial institution by means of advances to an amount not exceeding in the aggregate the sum specified for that purpose in the resolution, to meet current requirements, and such resolution shall not have effect for any period exceeding 6 months.

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    (2)   Where, by resolution in accordance with this section or under any enactment, power to borrow money by means of advances from a bank is conferred on the Minister that power may be exercised by means of a fluctuating overdraft.