Common use of Currency Issue Reserve Clause in Contracts

Currency Issue Reserve. Prior to 1 January 2003 the cost of printing of notes or minting of coins (unissued and issued) was recorded against the Currency Issue Reserve. The Currency ssue Reserve was set at a level deemed necessary to meet an estimated future printing or minting cost. This effectively expensed the cost of printing or minting in that period. After 1 January 2003 the cost of printing and minting is set up as a Stock of unissued currency nd only the cost of currency issued into a circulation is expensed. The Currency Issue 2006 XXXXX ISLANDS MONETARY AUTHORITY OTES TO THE FORECAST FINANCIAL STATEMENTS S AT 30 JUNE 2006 eserves and Capital (continued)

Currency Issue Reserve. Prior to 1 January 2003 the cost of printing of notes or minting of coins (unissued and issued) was recorded against the Currency Issue Reserve. The Currency ssue Issue Reserve was set at a level deemed necessary to meet an estimated future printing or minting cost. This effectively expensed the cost of printing or minting in that period. After 1 January 2003 the cost of printing and minting is set up as a Stock of unissued currency nd and only the cost of currency issued into a circulation is expensed. The Currency Issue 2006 XXXXX Reserve will be adjusted as these notes are issued until the stock is exhausted. The Currency Issue Reserve will then remain at $375,000. CAYMAN ISLANDS MONETARY AUTHORITY OTES NOTES TO THE FORECAST FINANCIAL STATEMENTS S AS AT 30 JUNE 2006 eserves 2007 Reserves and Capital (continued)

Currency Issue Reserve. Prior to 1 January 2003 the cost of printing of notes or minting of coins (unissued and issued) was recorded against the Currency Issue Reserve. The Currency ssue Issue Reserve was set at a level deemed necessary to meet an estimated future printing or minting cost. This effectively expensed the cost of printing or minting in that period. After 1 January 2003 the cost of printing and minting is set up as a Stock of unissued currency nd and only the cost of currency issued into a circulation is expensed. The Currency Issue 2006 XXXXX ISLANDS MONETARY AUTHORITY OTES TO THE FORECAST FINANCIAL STATEMENTS S AT 30 JUNE 2006 eserves and Capital (continued)Reserve will be adjusted as these notes are issued until the stock is exhausted. The Currency Issue Reserve will then remain at $375,000.

Currency Issue Reserve. Prior to 1 January 2003 the cost of printing of notes or minting of coins (unissued and issued) was recorded against the Currency Issue Reserve. The Currency ssue Issue Reserve was set at a level deemed necessary to meet an estimated future printing or minting cost. This effectively expensed the cost of printing or minting in that period. After 1 January 2003 the cost of printing and minting is set up as a Stock of unissued currency nd and only the cost of currency issued into a circulation is expensed. The Currency Issue 2006 XXXXX ISLANDS MONETARY AUTHORITY OTES TO THE FORECAST FINANCIAL STATEMENTS S AT 30 JUNE 2006 eserves and Capital (continued)Reserve will remain at $375,000 in 2007/8.