In forceAmended2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Currency Act 1967 · 2020 Revised Edition · Part 3 · Currency
22. Authority’s assets must not be less than currency in circulation
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Last amended by an amending law of 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.
(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.
currency
Defined · s 2
“currency” means currency notes and coins which are legal tender in Singapore;