Clause 13

by deleting subsections (3) and (4) and substituting the following subsections:“(3) At the end of each financial year the Board shall determine whether or not any part of the surplus in the Income Account should be paid into the Reserve Fund and if it is determined that a part of the surplus should be so paid, the amount of any such payment. Thereafter any surplus remaining in the Income Account shall be paid into the Consolidated Fund.(4) Where there is on the last day in any financial year a deficiency in the Income Account, it shall be charged upon and paid out of the Consolidated Fund.(5) Notwithstanding subsection (3), 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 Currency Fund determined by the Board pursuant to section 21(8), the deficiency shall be made up from the Income Account and, if necessary, from the Reserve Fund; but if the amounts in the Income Account and in the Reserve Fund are insufficient to make up the deficiency in the Currency Fund, the balance of such deficiency shall be charged upon and paid out of the Consolidated Fund.(6) If, on the last day in any financial year, the value of the Currency 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 Currency Fund to the Income Account.”.