Section 8Part 2 — Establishment, Capital and Administration of Authority
General Reserve
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There shall be a General Reserve of the Authority to which shall be allocated any amounts that may become available under section 10.
In the event that the General Reserve, after the allocation of amounts under section 10, amounts to less than fifteen per cent of the demand liabilities of the Authority, the Government may appropriate such funds from the general revenue of the Islands as are required to extinguish all or part of such deficiency.
Defined Terms
General Reservedemand liabilities
Cross References
- Section 10 of Monetary Authority Actexternal
allocation of profits to General Reserve