(1) The Minister may, whenever and so often as the Minister thinks fit, create and issue securities -
(a) bearing interest at such rate as the Minister thinks fit or bearing no interest, and
(b) subject to such conditions as to repayment, redemption or any other matter as the Minister thinks fit,
where such securities are issued in exchange for or in consideration of the redemption, release or cancellation, or the transfer to the Minister, of any other liability or obligation of the Minister to the Bank.
(2) Any payments required in respect of any securities issued under subsection (1) and any expenses incurred in the issue thereof may be charged on the Central Fund or the growing produce thereof.
(3) The Finance Act 1970 is amended in section 54 by inserting the following subsection:
"(7F) The Minister for Finance -
(a) may engage in such transactions of a normal banking nature with any person as the Minister considers appropriate -
(i) for the purposes of subsection (1) of section 17
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