Singapore legislation
Clause 11
Clause 11
Amendment of section 24
Section 24 of the Currency Act is amended —
(a)
by deleting the words “The Fund shall consist of all or any of the following external assets” in the first and second lines and substituting the following words: —“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 one hundred per cent of the face value of the currency issued by the Board”; and
(b)
by inserting, immediately after the word “gold” in paragraph (a), the words “and silver”.