Cap. 222 Art. 12Surplus and deficit in the account.

(1) Without prejudice to the provisions of article 10(3), if at any time during any financial year the amount to the credit of the Account is insufficient to meet the expenses and charges due on the said account in accordance with article 11(2), the Minister may advance to and the Bank shall pay into the said Account such sum or sums as may be necessary to meet the expenses and charges aforesaid under such terms and conditions as the Minister, after consultation with the Bank, may determine. Provided that no such transfer as aforesaid may be directed by the Minister unless the liquid assets of the Fund together with the estimated market value of the investments held by the Fund as on that day and any transfer of surplus from the Account into the Fund under this proviso exceed by at least fifteen per cent the amount of bonds outstanding on that day; and in any such case any surplus in the Account shall either be retained in the Account or transferred to the Fund, or partly so retained and partly so transferred, as the Minister may, after consultation with the Bank, direct.