Section 31: Suspension of assets requirements

31. Suspension of assets requirements. Notwithstanding anything contained in the foregoing provisions, the Bank may, with the previous sanction of the 4[Board], for periods not exceeding thirty days in the first instance, which may with the like sanction be extended from time to time by periods not exceeding fifteen days, hold as assets gold coin, gold or silver bullion, 5[special drawing rights held with the International Monetary Fund,] or approved foreign exchange of less aggregate amount than that required by paragraph (a) of sub-section (1) of section 30.

Effective date: 1956-04-18

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