21.—(1) The Board shall establish a Currency Fund which shall be maintained and managed by the Board in the manner prescribed in this Act.
[11/82; 3/91]
(2) The Board may, with the approval of the President, appoint any person to manage the Currency Fund on its behalf in the manner prescribed in this Act.
[11/82; 3/91]
(3) There shall be paid into the Currency Fund —
(a)
all gold, silver and foreign currencies bought by the Board under section 16; and
(b)
the proceeds of any transactions under subsection (6) (b), less all expenses incurred in connection therewith.
[11/82]
(4) Subject to this Act, the Currency Fund shall not be applied for any other purpose.
[11/82; 3/91]
(5) The Board shall maintain adequate liquidity in the Currency Fund to meet all demands under normal market conditions.
[47/98]
(6) Notwithstanding anything in subsections (1) to (4), the Board may —
(a)
use any coin held for the account of the Currency Fund for the purpose of having it reminted into current coin; and
(b)
sell any coin held for the account of the Currency Fund.
[3/91; 47/98]
(7) The value of the Currency Fund and its assets for any purpose of this Act shall be determined by such method as the Board may, with the approval of the President, from time to time adopt.
[11/82; 3/91]
(8) Any method of valuation adopted by the Board under subsection (7) shall be published in the Gazette.