Section 27

Within 3 months of the close of each financial year the Board shall submit its annual accounts to the Auditor General and the Auditor

General shall cause them to be audited within 5 months of the end of the financial year.

Within 6 months of the close of each financial year the Board shall —

The Minister shall lay a copy of the annual accounts of the

Board, together with the certificate of the Auditor General and the report on the Board’s operations for the year, before the Legislative Council at its next meeting after he has received such accounts, certificate and report.

The Board shall, as soon as may be after the end of every third month, make up a return of the circulation of its currency notes and coins together with its other demand liabilities as at the close of business on the last business day of that month, and shall transmit a copy of this return to the

Minister, who shall cause it to be published in the Gazette.

[S 9/98]

The Board shall include in the quarterly return the proportion which the value of its external assets bears to the amount of the Board’s demand liabilities.

The investments of the Board in securities shall be valued in the

Board’s accounts at not more than their current market price or their cost to the Board, whichever shall be the lower.