Currency Fund Income Account
23.—(1)  All dividends, interest or other revenue derived from investments or from the utilisation in any other manner of the moneys of the Fund and all commissions paid to the Board in connection with the issue or redemption of currency notes or coins shall be paid into an account to be called “the Currency Fund Income Account” (referred to in this Act as the Income Account).
(2)  There shall be charged upon the Income Account —
(a)all expenses incurred by or on behalf of the Board in the preparation, transport, issue, redemption and demonetisation of currency notes and coins, and in the transaction of any business relating to such currency authorised by law, other than the expenses referred to in section 21(7);
(b)any expenses incurred by or on behalf of the Board in connection with the protection of the currency against forgery or counterfeiting of currency notes or coins; and
(c)all other expenses properly incurred by the Board in the execution of its functions under this Act:
Provided that the Board may charge upon the Fund and not upon the Income Account any expenditure of an exceptional nature.
(3)  At the end of each financial year, any surplus in the Income Account shall be paid into the Consolidated Fund but if on the last day in any financial year there is a deficiency in the Income Account, it shall be charged upon and paid out of the Consolidated Fund:
Provided that if on the last day in any financial year, the face value of the Board’s currency notes and coins in circulation exceeds the value of the Fund determined by the Board pursuant to section 21(8), there shall be paid into the Fund the whole of the said surplus in the Income Account or such part thereof as shall make up the moneys of the Fund as aforesaid to an amount equal to the face value of the currency notes and coins then in circulation; but if the said surplus in the Income Account is insufficient to make up the deficiency in the Fund, the balance of such deficiency shall be charged upon and paid out of the Consolidated Fund.
(4)  If on the last day in any financial year, the value of the Fund so calculated exceeds 100% of the face value of the Board’s currency notes and coins then in circulation, the Board may direct that the whole or part of such excess be transferred from the Fund to the Income Account.
[25