Section 9A: Powers of the Board

9A. Powers of the Board.⸺(1)The Board, with the exception of the powers entrusted to the Monetary Policy Committee under section 9D, shall perform the following functions, namely:⸺ (a) define, approve and determine the general internal policies and rules of the Bank regarding the execution of its functions and approve internal rules for their implementation; (b) formulate and oversee foreign exchange reserve management, strategic investment and risk policy; (c) approve the annual budget of the Bank; (d) approve the annual report and financial statements of the Bank; (e) adopt and oversee the Bank’s policies on internal and external audit, compliance, internal controls and risk management; (f) adopt and oversee the system of financial reporting, accounting policies, information technology and security in the Bank; and (g) establish committees of the Board to assist in oversight functions.

Effective date: 1956-04-18

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