CRD Welcome Package

19.

(1) The Bank shall arrange for the printing of currency notes and the minting of coins and for all matters relating thereto, and for the security and safe-keeping of unissued currency and for the custody and destruction, as necessary, of plates, dies and retired currency. (2) Currency issued by the Bank shall be in such denominations and of such composition, form and design as shall be approved by the Council on the recommendation of the Board. (3) The characteristics of currency to be issued by the Bank shall be published in the Official Gazette of each of the Participating Governments. The Bank shall have the power to call in, for the purpose of withdrawing from circulation, any currency issued or deemed by the Bank to have been issued by it on payment of the face value thereof. Any currency so recalled shall, in accordance with the terms of a notice which shall be published in the Official Gazette of each of the Participating Governments and communicated to the public in such other manner as the Bank shall decide cease to be legal tender: Provided that the holders of such currency shall be entitled, at any time within a period of not less than five years as may be specified in the notice and thereafter at the sole discretion of the Bank, to claim payment from the Bank in accordance with such regulation as it may issue. The Bank shall issue, reissue, and exchange on demand currency issued or deemed by the Bank to have been issued by it: Provided that in the event of the temporary unavailability of a requested issue or denomination, the Bank may deliver currency of available issues and denominations that most nearly approximate those requested. (1) No person shall be entitled to recover from the Bank the value of any lost or stolen currency, except as may be provided under the terms of a waiver expressly executed in respect of the assumption by the Bank of risks incident to shipments of currency. (2) The conditions under which mutilated or otherwise damaged currency may be exchanged or refunded at partial or face value shall be determined by regulations issued by the Bank. The Bank shall assist in the enforcement of any law related to the counterfeiting of currency in the territories of the Participating Governments and certification by a duly authorised officer of the Bank that an item in question is or is not genuine shall be prima facie evidence of the fact in any legal proceeding in those territories.

20.

21.

22.

23.

PART VI - EXTERNAL RESERVE

26