Clause 6

by deleting subsection (2);

by deleting the words “, with the approval of the President,” in subsection (7); and

by deleting subsection (8) and substituting the following subsections:“(8) If at any time the value of the Currency Fund determined by the Authority under subsection (7) exceeds 100% of the face value of the Authority’s currency notes and coins then in circulation, the Authority may direct that the whole or part of such excess be transferred from the Currency Fund to the other funds of the Authority.(9) If at any time the face value of the Authority’s currency notes and coins in circulation exceeds the value of the Currency Fund, the deficiency shall be made up from the other funds of the Authority and, if such funds are insufficient, the balance of the deficiency shall be charged on and paid out of the Consolidated Fund.(10) The Authority may charge on the Currency Fund any expense properly incurred by or on behalf of the Authority in connection with the execution of its functions under this Act, including expenses relating to —

the investment of the Currency Fund;

the issue and demonetisation of currency notes and coins and the transaction of any business relating to such currency; and

the protection of currency notes and coins against forgery or counterfeiting.”.