Law February 8, 1992 Reorganisation of NBC

LAW DATED FEBRUARY 8, 1992

ON THE RENAMING, REORGANIZATION AND FUNCTIONING OF THE PEOPLE'S NATIONAL BANK OF CAMBODIA

The State Council of Cambodia,

having seen the 1993 Constitution of State of Cambodia;
having seen Law on the organization of the Assembly and State Council of the People's Republic of Cambodia promulgated by Decree No. 04 KRTdated February 10, 1982;

decided;

to promulgate the Law on the Renaming, Reorganization and Functioning of the People's National Bank of Cambodia adopted by Assembly of the State of Cambodia on January 30, 1992 during the 22^rd Session of the First Legislature.

Phnom Penh, February 8, 1992

P. Council of State

President

Signature and Seal

Heng Samrin

Section 1:

The People's National Bank of Cambodia shall change its name to the National Bank of Cambodia.

Section 2:

The National Bank of Cambodia is the bank of the State. The National Bank of Cambodia shall have an equivalent rank as a Ministry and shall report to the Council of Ministers.

Section 3:

The National Bank of Cambodia shall have the following objectives:

Supervise and regulate the financial institutions
Manage monetary transactions, credits, domestic and international settlement, foreign exchanges, precious metals, and stones.
Monopolize the issue of the Riel note; and
Issue for use checks of the National Bank of Cambodia.

Section 4:

The National Bank of Cambodia shall he administered by the Governor with the assistance of' the Deputy Governor and the help of the Board of Directors.

Section 5:

The organization and functioning of the National Bank of' Cambodia shall he provided by Anukret.

Section 6:

Any regulations which contradict this law shall he considered null and void.

Phnom Penh, January 31, 1992

The Chairman of the National Assembly

Signature and Seal

Chea Sim