The following is C-124 as entered by hand.  Every
attempt has been made to preserve the original
formatting as closely as possible.

The text surrounded by '/' indicates italicization
of the text in the original document.




          40-41-42 ELIZABETH II

	         ------

               CHAPTER 33

An Act to ammend the Currency Act

           [Assented to 23rd June, 1993]

  Her Majesty, by and with the advice and
consent of the Senate and the House of Com-
mons of Canada, enacts as follows:

  1. Subsections 17(2) to (6) of the /Curren-
cy Act/ are repealed and the following substi-
tuted therefor:

  (2) The Minister may, with assets held by
or on behalf of the Minister for the Ex-
change fund Account, acquire or cause to be
acquired

  (a) currencies designated by the Minister;

  (b) units of account designated by the
  Minister;

  (c) gold;

  (d) deposits that are

    (i) denominated in those currencies or
    units of account or in gold, and

    (ii) held with the Bank of Canada or
    any other financial institution inside or
    outside Canada designated by the Min-
    ister; and

 (e) securities or notes that are denominat-
ed in those currencies or units of account
or in gold and are issued or guaranteed by
the Government of Canada or by such

    (i) government of another country,

    (ii) agency or institution of the Govern-
    ment of Canada or of the government of
    another country.

    (iii) official international financial or-
    ganization, or

    (iv) institution

  as is designated by the Minister.


  (2.1) Within sixty days after making a
designation under subsection (2), the Minis-
ter shall cause to be published in the /Canada
Gazette/ the name of the currency or unit of
account designated or the criteria used by the
Minister in making the designation under
subparagraph (2)(d)(ii) or paragraph (2)(e).


  (3) The Minister or an agent on behalf of
the Minister may sell, lend, borrow or other-
wise deal in currencies, units of account,
gold, deposits on securities or notes described
in subsection (2), on any terms and condi-
tions that the Minister thinks fit, and may,
for that purpose,

  (a) enter into and participate in

    (i) futures, forward, option, repurchase
    and reverse repurchase agreements, and

    (ii) derivative or associated instruments
    or products

  relating to those currencies, units of ac-
  count, gold, deposits or securities or notes:

  (b) accept any of those currencies, units of
  account, gold, deposits or securities or
  notes as security for any loan or undertak-
  ing; and

  (c) give undertakings and give as security
  for the performance of the undertakings
  any assets held by or on behalf of the Min-
  ister for the Exchange Fund Account.

  (3.1) Within sixty days after the Minister
appoints an agent under subsection (3) or a
derivative or associated instrument or prod-
uct is entered into or participated in under
subparagraph (3)(a)(ii) the Minister shall
cause to be published in the /Canada Gazette/
the name of the agent or a description of the
derivative or associated instrument or prod-
uct.

  (4) There shall be credited to the Ex-
change Fund Account

  (a) the proceeds, earnings and interest
  from all transactions pursuant to subsec-
  tion (3);

  (b) all amounts received by the Minister
  on the maturity of any deposits and securi-
  ties and notes held by or on behalf of the
  Minister for the Account; and

  (c) all earnings and interest from the cur-
  rencies, units of account, gold, deposits
  and securities and notes held by or on be-
  half of the Minister for the Account.

       QUEEN'S PRINTER FOR CANADA (C)
               OTTAWA 1993