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Currency Act

(Chapter 69, Section 31)

Board of Survey of Currency Stocks Regulations

Rg 2

G.N. No. S 239/1988

REVISED EDITION 1990

(25th March 1992)

[2nd January 1989]

Citation

1. These Regulations may be cited as the Board of Survey of Currency Stocks Regulations.

Definitions

2. In these Regulations, unless the context otherwise requires —

“Board” means the Board of Survey of Currency Stocks established under these Regulations;

“member” means a member of the Board and includes the president thereof.

Establishment of Board of Survey of Currency Stocks

3.—(1) There shall be established a Board of Survey of Currency Stocks, which shall consist of a president and not less than 4 other members all of whom shall be appointed by the Minister.

(2) The members of the Board shall hold office for such period as may be determined by the Minister and shall be eligible for reappointment.

(3) Any member of the Board may at any time resign his appointment by giving notice in writing to the Minister.

(4) If any member of the Board is, by reason of illness, absence or other reasonable cause, for the time being unable to perform the duties of his office, the Minister may appoint another person to discharge the duties of that member for such period as the Minister may determine, and a person so appointed shall, during that period, have the same powers and functions as the person in whose place he is appointed.

Board to conduct surveys of currency stocks

4. The Board shall conduct surveys of currency stocks which shall be carried out on the first business day of each calendar year and at such other times as the president of the Board may determine except that no less than two surprise surveys shall be conducted in each year.