(1) Where that part of the liabilities of an undertaking expressed as being payable in any particular currency exceeds 5 per cent of the undertaking's total liabilities the undertaking shall hold sufficient assets expresssed in or capable of being realised without exchange risk into that currency to cover at least 80 per cent of the undertaking's liabilities in that currency.
(2) For the purposes of paragraph (1), an asset is capable of being realised without exchange risk into a currency if it is reasonably capable of being realised into that currency without risk that changes in exchange rates would reduce the cover of liabilities in that currency.
(3) Assets held pursuant to paragraph (1) shall be localised in the State or in the country of the currency in which the liabilities are expressed.