Advances to Government

With a view to offsetting fluctuations between receipts and payments of the Government, the Bank may make direct advances to the Government provided that at any one time the total outstanding amount of such direct advances shall not exceed eight and one half per cent of the current revenues of the Government collected during the preceding financial year. Any such advances outstanding at the end of a financial year shall be repaid not later than three months after the end of that financial year; and if any such advances are not so repaid the power of the Bank to make further direct advances to the Government may not be exercised until the outstanding advances have been repaid.