Calculation of profits and losses

Profits or losses from any revaluation of the Bank’s net assets or liabilities in gold, special drawing rights, foreign exchange or foreign securities as a result of any change in the par value of the Belize dollar, or of any change in the par value of the currency unit of any other country shall be excluded from the computation of the annual profits and losses of the Bank. All 34 such profits or losses shall be carried in a special account called Revaluation Account, provided that no profits shall be credited to the General Reserve Fund or paid to the Government under section 9, whenever the Revaluation Account shows a net loss. Such profits shall be credited to the Revaluation Account in an amount sufficient to cover the loss.