(c)
foreign governments or their agencies;
(d)
international financial organizations;
(e)
central banks or monetary authorities;
(f)
banks or other financial institutions outside Namibia; or
(g)
other institutions or bodies as may be approved by the Minister.
[NAMa15y1997s31]31
Revaluation Reserve Account
(1) Any net gains in any financial year of the Bank arising from any change in the
book or realized value of the Bank's assets or liabilities denominated in currencies or units of
account other than domestic currency, such as gold, special drawing rights and foreign
currencies, as a result of any change in the value of such currencies or units of account in
terms of the currency of Namibia, shall be credited to a Revaluation Reserve Account.
(2)(a) Where in any financial year the Bank incurs net losses arising from the change
in value referred to in subsection (1), such losses shall be set off against any credit balance in
the Revaluation Reserve Account.
(b) If the balance in the Revaluation Reserve Account is insufficient to cover such
losses, the Government shall issue to the Bank non-negotiable securities to the extent of the
deficiency, on such terms and conditions as the Minister and the Board may agree upon.
(3) In the computation of the Bank's annual net profits, neither the gains of the Bank
referred to in subsection (1), nor the losses referred to in subsection (2) shall be included in
such profits.
(4) Any credit balance in the Revaluation Reserve Account at the end of each
financial year of the Bank shall be applied to redeem any securities issued and outstanding
under subsection (2)(b).
(5) No credits or debits shall be made to the Revaluation Reserve Account except in
accordance with the provisions of this section.
PART VI
RELATIONS WITH FINANCIAL INSTITUTIONS (ss 32-39)
[NAMa15y1997s32]32
Lender of last resort
The Bank may, where the Board considers it necessary for the purposes of
maintaining a sound financial system, act as a lender of last resort for the account holders
referred to in section 33, on such terms and conditions as the Board may determine.
[NAMa15y1997s33]33
Operations with account holders
(1) The Bank may, subject to such terms and conditions as the Board may from time
to time determine(a)
open bank accounts for, other than a bank account referred to in section 35,
and accept deposits from, banking institutions or such other bodies or institutions as the
Minister may approve for that purpose; and
(b)
purchase from, sell to, discount or rediscount for the account holders
contemplated in paragraph (a)(i)
bills of exchange or promissory notes which(aa) are drawn for a bona fide commercial purpose;
(bb) bear two or more good signatures of which at least one is that
of a banking institution; and
(cc) mature within 183 days from the date of their acquisition by the
Bank;
(ii)
treasury bills or other securities issued or guaranteed by the
Government, which form part of a public issue;
(iii)
securities issued by the Bank under section 55; and

Select target paragraph3