Section 22
Authority’s assets must not be less than currency in circulation
ActIn forceProvision 22 of 29
Section 22
Amended by31/201731/2017
(1)
The gross assets of the Authority must at all times be not less than 100% of the face value of the Authority’s currency in circulation.
Amended by31/2017
(2)
If, at any time, the face value of the Authority’s currency in circulation exceeds the gross assets of the Authority, the amount of the deficiency is to be charged on and paid out of the Consolidated Fund.
Amended by31/2017