Singapore legislation
Clause 14
Clause 14
Amendment of section 21
Section 21 of the Currency Act is amended —
(a)
by deleting subsections (5) and (6) and substituting the following subsection:“(5) The Board shall maintain adequate liquidity in the Currency Fund to meet all demands under normal market conditions.”;
(b)
by deleting “(6)” in the first line of subsection (7) and substituting “(4)”;
(c)
by inserting, at the end of subsection (7)(a), the word “and”; and
(d)
by deleting paragraph (b) of subsection (7).