Currency and Monetary Order, 2004 (Formerly Known as Currency Act) · As enacted · Part IV
Section 34
Official textFrom Attorney General's Chambers, unchanged
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 submit to the Minister, who shall subsequently submit to His Majesty the Sultan and Yang Di-Pertuan, a copy of its accounts certified by the Auditor General and a report on its operation during the year.
The Board shall, as soon as 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 238
demand liabilities
"demand liabilities" means the Board's currency notes and coins in circulation and its other demand liabilities;
month, and shall submit a copy of this return to the Minister, who shall cause it to be published in the Gazette.
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 and other external investment instruments 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.
Regulations.
Terms defined in s 2
demand liabilities
Defined · s 2"demand liabilities" means the Board's currency notes and coins in circulation and its other demand liabilities;