Chapter 12, Part 3 · Art. 214

Public debt

2010-as-amended · effective 2010-08-27

Official text

(1) The public debt is a charge on the Consolidated Fund, but an Act of Parliament may provide for charging all or part of the public debt to other public funds.
(2) For the purposes of this Article, "the public debt" means all financial obligations attendant to loans raised or guaranteed and securities issued or guaranteed by the national government.

In simple words

The public debt is a charge on the Consolidated Fund, though an Act of Parliament may charge it to other public funds.
Art. 214(1)
(1) The public debt is a charge on the Consolidated Fund, but an Act of Parliament may provide for charging all or part of the public debt to other public funds.
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Public debt means financial obligations from loans raised or guaranteed, and securities issued or guaranteed, by the national government.
Art. 214(2)
(2) For the purposes of this Article, "the public debt" means all financial obligations attendant to loans raised or guaranteed and securities issued or guaranteed by the national government.
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Kids explanation

Money the national government owes is paid from the main fund.
Art. 214(1)
(1) The public debt is a charge on the Consolidated Fund, but an Act of Parliament may provide for charging all or part of the public debt to other public funds.
Read the full article →