| 1) |
Any profit or loss on- |
| a) |
any current or future forward exchange contract entered into by the Bank, but excluding the usual exchange margins earned or paid thereon; |
| b) |
any amount borrowed by the Bank in any currency other than the currency of the Republic, but excluding any interest, commission or other charges or the usual exchange margins earned or paid thereon; |
| c) |
any agreement entered into by the Minister of Economic Affairs and Technology under section 2 of the Export Credit and Foreign Investments Re-insurance Act, 1957 (Act 78 of 1957), with the Credit Guarantee Insurance Corporation of Africa Limited for the reinsurance of any contract, entered into by the said corporation with a person who exports capital goods or services from the Republic, for insuring against risks (not normally insurable) of monetary loss or monetary detriment attributable to any change in the value of the currency of the Republic in relation to the currency of the United States of America, |
shall accrue to the Government.
| 2) |
The Bank shall establish a Forward Exchange Contracts Adjustment Account in which it shall account for- |
| a) |
any loss suffered by the Bank on a forward exchange contract or loan referred to in subsection (1) (a) or (b); |
| b) |
any profit made by the Bank on a forward exchange contract or loan referred to in subsection (1) (a) or (b); and |
| c) |
any profit made and loss suffered on an agreement referred to in subsection (1) (c). |
Special Investigating Units and Special Tribunals Act, 1996
