(b)
any matter which, in the opinion of the Board, is likely to affect the
achievement of its objects or the performance of its functions under this Act.
(2) The Board shall express its opinion on the preparation of the Government's
budget.
[NAMa15y1997s41]41
Official depository and cashier
(1) The Bank shall be the official depository of Government funds and shall on behalf
of the Government receive and disburse moneys and keep account thereof.
(2) Notwithstanding the provisions of subsection (1), the Government may also
maintain accounts with, and use the services of, any other banking institution, and the
arrangements for maintaining such accounts and for the use of such services may be made by
the Bank at the request of the Minister.
[NAMa15y1997s42]42
Transactions in and management of Government securities
(1) The Bank may be entrusted with the issue and management of securities issued or
guaranteed by the Government, upon such terms and conditions as may be agreed upon
between the Minister and the Board.
(2) The Bank may purchase and sell securities issued by the Government and may
deal directly with any person in relation to such securities or treasury bills.
[NAMa15y1997s43]43
Lending to the Government
(1) Subject to section 45, the Bank may grant loans to the Government on such terms
and conditions as the Board and the Minister may agree upon, but every such loan shall be
repaid to the Bank within six months from the date on which the loan in question was
granted.
(2) Subject to the provisions of subsection (1), the Bank may grant loans to the
Government, on such terms and conditions as the Board and the Minister may agree upon, for
the purposes of paying subscriptions, fees, or other financial obligations of the Government
arising from, or incidental to(a)
the membership of Namibia in any international bank or international financial
organization;
(b)
the participation of Namibia in any account thereof; or
(c)
any transaction or operation in connection therewith.
[NAMa15y1997s44]44
Foreign borrowing by Government and statutory bodies or
institutions
(1) Where the Government or any governmental body or institution established by or
under any law intends to borrow from any source in a foreign country, it shall(a)
before entering into any commitment to borrow any foreign currency from
such source, consult the Bank regarding the timing, terms and conditions and financial
expediency of the intended borrowing; and
(b)
after entering into such commitment to borrow, promptly notify the Bank of
the terms and conditions of such borrowing.
(2) Where after the consultation referred to in paragraph (a) of subsection (1) the
Bank is of the opinion that the intended borrowing is financially or economically
inappropriate or inexpedient for the prevailing economic conditions, the Bank shall report the
matter to the Minister, and may recommend to him or her such measures as it may consider
necessary to remedy the situation.
[NAMa15y1997s45]45
Limitations on lending to Government
(1) The Bank shall not lend to the Government or acquire the securities of the
Government except in accordance with the provisions of section 31(2)(b), 33(1)(b)(ii), 42(2)
or 43, or in the course of satisfaction of debts due to the Bank from the Government.
(2) Subject to the provisions of subsection (4), the total of all outstanding loans from
the Bank to the Government in terms of section 43(1) and the Bank's holdings of securities

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