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Formal Consolidation |  1985 RevEd
External assets of Fund
22.  The external assets of the Fund shall consist of all or any of the following and they shall at all times be not less than 100% of the face value of the currency issued by the Board:
(a)gold and silver in any form;
(b)sterling and other foreign exchange in the form of —
(i)demand or time deposits with the Board’s agents or correspondents abroad;
(ii)documents and instruments customarily used for the making of payments or transfers in international transactions;
(iii)bank balances and money at call;
(iv)Treasury Bills;
(v)notes or coins;
(c)securities of or guaranteed by foreign governments or international financial institutions;
(d)any readily available international drawing facility which the Board, after consultation with the International Monetary Fund and with the approval of the President, considers suitable for inclusion;
(e)any other asset which the Board, with the approval of the President, considers suitable for inclusion.
[24
[11/82]
Informal Consolidation | Amended Act 3 of 1991
External assets of Currency Fund
22.  The external assets of the Currency Fund shall consist of all or any of the following and they shall at all times be not less than 100% of the face value of the currency issued by the Board:
(a)gold and silver in any form;
(b)foreign exchange in the form of —
(i)demand or time deposits with the Board’s agents or correspondents abroad;
(ii)documents and instruments customarily used for the making of payments or transfers in international transactions;
(iii)bank balances and money at call;
(iv)Treasury Bills;
(v)notes or coins;
[Act 3/91 wef 01/02/1991]
(c)securities of or guaranteed by foreign governments or international financial institutions;
(d)any readily available international drawing facility which the Board, after consultation with the International Monetary Fund and with the approval of the President, considers suitable for inclusion;
(e)any other asset which the Board, with the approval of the President, considers suitable for inclusion.
[24
[11/82]
[Act 3/91 wef 01/02/1991]