law on the organization and functioning of the national bank of cambodia [1996]

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II

UNOFFICIAL TRANSLATION

NORODO l V I SIHANOUKKINGOF CA . l . V IBODIA

i\S/R.K.l\1/0196/27

- 'Vith reference to the Constitution of the Kingdom ofCam b o d i a ~ - 'Vith reference to the Royal Decree, dated 24 September 1993, regardingthe appointment of the First and Second Prime Ministers, .- 'Vith reference to the Royal Decree, dated 1 November 1993, regarding the

formation of the Royal Government-of Cambodia,- \Vith reference to the Royal K1'an1 N.02 NS 94 dated 20 July 1994,promulgating the Law on the Organization and Conduct of the Council ofMinisters,- With reference to the Royal Decree, dated 3 September 1993, regarding theappointment of HE Thor Peng Leath as the General Governor of the~ a t i o n a l Bank of Cambodia,

- With reference to the Budget La\,; dated 28 December 1993,- With reference to the request by both Prime MInisters and the GeneralGovernor of the National Bank of Cambodia,

PRo l \ ' IULGATE

Law on the Organization and Conduct of the National Bank of Cambodiathat the National Assembly approved during its )lh session of the 1 tlegistature with the following prO\-isions :


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Title I. General Provisions

Article 1.

The National Bank of Cambodia is the" Central Bank" which is an autonomouspublic entity of a commercial and industrial dlature.Article 2.

The Central Bank is a legal entity with full jurisdiction and shall have the capacityto:1. lend, borrow and enter into all other contracts ;2. institute legal proceedings and be subject to such proceedings: and3. for the purpose of its business, acquire, hold, and dispose of property whethermovable or immovable.

Article 3.The principal mission of the Central Bank is to determine and direct the monetarypolicy aimed at maintaining price stability in order to facilitate economic d e v ~ l o p m e n t within the framework of the Kingdom's economic and fil1:ancial policy.

Article 4.In order to accomplish its mission and to implement this law The Central Bank isempoweredto issue decisions, regulations, circulars, and other instructions.

Article 5.The Central Bank shall publish on a regular basis its monetary policy objectives(money-credit-exchallge-interest rates) and statistics, including \\ith respect to the money

supply, prices, credit, the balance of payments and foreign exchange.Article 6.

The head office of the Central Bank shall be in Phnom Penh. The Central Bankmay establish branches and agencies in the Kingdom and representative offices in othercountries af1er obtaining the approval of its Board of Directors.

Title II. General Functions and Duties

Article 7.The Cenn-al Bank sh all ha \ 'e the following functions and duties:

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of the ?'ational Assembly during their tem1 of office. I ,he above restriction also applies 10all other members except the representatives of the head of the Royal Go\crnmcnt, theMinistry of Economy and Finance, and ihe academic who ma)' main;ain their c;\'il s C ; ' \ i ~ status.

2. The Board shall be responsible for:- establishing the policies for the operation of the Central Bank;issuing decisi.ons, regulations, circulars and other directives to gc)\'e:-!1 thebusiness of the Central Bank ;- establishing internal rules and regulations:- establishing staff statute;- establishing departments of the Central Bank;- establishing an audit committee;- establishing a staff training conm1ittee .3. The Governor shall serve as the chief executive officer of the Central Bank and

be responsible to the Board for the execution of its policy. The Governor shall beresponsible for the conduct of the business of the Central Bank and have authority to actin all matters that are not, by this Law or other relevant regulations specifically reserved tothe Board. .

TIle Governor shdl appoint the officers and staff of the Ce ntral Bank and makeproposals to the Board on the salaries and benefits for senior staff.

4. The Deputy Governor shall exercise such powers and carry out such duties 2Sthe Governor may determine. In the absence of the Governor, the Deputy Governor shallact as Go\"ernor.Article 13.

The Governor and the Deputy Governor shall be appointed. replaced anddismissed by a royal decree on the recommendation of the Royal Government.

All other mem bers of the Board shall be appointed, replaced and dismissed by subdecree. These members shall be selected from a list prepared by the Governor with thenames of three qmdidates for each post.Article 14.

1. The members of the Board shall be persons of recognized experience orstanding in economic and [nanrial matttfS and shall be no more- than si:--.:ty fi\c years ofage. They shall be appointed for a period of 4 years and shall be eligible for reappointment for only one further term. Other rthan for the Governor, Deputy Gowmor andthe National Bank staff representative, t\\O of the board members, chosen by lot, shailserve for 2 years, from the date of aflpointment of the first board.Members of the Board and their family members must not be shareholders of anybank and financial institution regulated by the Central Bank.

1. A member of the Board shall cease to hold office ifhe or she:5


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(a) is convicted o fa criminal, administrative offense or a breach ofeconomic or commercial law;

Cb) is detennined by the Board to have \'iolJted the prohibitions of Articles15 and 16 of this La\"O;(c) is absent for four consecutin m ~ e t i n g s , unless due to illness, or in the

case of force majeure recognized by the Board;(d) resigns by written notice;(e) is physically or mentally incapacitated from perforn1ing his or her

duties;(f) is detern1ined to be bankrupt by the courts .

30 Board meetings shall be held not less than once every two months.4. Board members shall receive an attendance allowance the amount of which

shall be fixed by the Board.5. The Governor and Deputy Governor shall receive base remuneration from the

Central Bank in the same amount as a member of the Royal Government.Article 15.

1. No officer, employee, or member of the Board of the Central Bank shall :- receive any benefit related to commercial, fin:mcial, agricultural, industrial, or

other business interest:- accept directions from these interests in respect of duties to be perfoffi1ed under

the Jaw:- put themsehes in a position where their interest conflicts with their duties;- recei"e any gift or advantage for themselves or persons \\Oith whom they have

family_ ):1usiness, or financial cO!U1ections that diminishes their honesty in their conduct oftheir duti es 0

20 Board members shall fully disclose to the Board their signific;..ant commercial,finetI1cial , agricultur;.!l. industrial , or other business interests with which they or membersof their immediate family rna:-: h2ve, directly or indirectly, at any time, and shall refrainfrom \Oo,ing on any matter related thereto . Howe\er, they may be qualified to constitute aquorum in accordancc ...ith the internal procedures of the Board.Article 16.

Except when under the provision of any Jaw, or \\'h;:n required to do 50 hy anycoun of law, officers , e:l;ployees and members of the Board cof the Central Bank shall notdisclose to any person any material infonnation relating to its confidentially professional2ffairs which they haw acquired in the performance of their duties.

6 0


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Title V. Capital. Income Allocatio'n. Budget

Article 17.1. The Central Bank shall have capital in an amount to be determined by subdecree. The an10unt of capital may be changed when deemed necessary. All the capital

shall be subscribed and held exclusively by the Royal Govemment and shall not betransferable or subject to encumbrance.

2. Whene\,er the \'alue of the National Bank's assets on its balance sheet fallbelow the sum of its liabilities the Royal Government shall transfer \\'ithin sixty days ofpublication of such balance sheet to the Central Bartle its government securities to remedythe deficiency. The securities shall be negotiable and shall bear interest at the refinancingrate,Article 18.

The net income of the Central Bank for each financial year shall be determined bythe Bank after allowing for the expense of operation of that year and after providing for :

I. Risks, deprec iations. and amortization of assets;2. a contribution to a pension fund, !he amount of which to be fixed by the Board;3. a General Reser\"e equal to 20% (t\venty percent) of net profit after deduction ofthe amoums in I. and 2. above ; .4. the redemption of gO\'emment securities held by the Central Bank:5. ir.\,estment of a collective fU!1d for the Central Bank to be detem1ined by theBoard.

Article 19.:\.11Y balan::e of net income sl{all then be tnmsferred to the National Budget afterdeduciion of:- 5% (fi\"e percent) for the personnel, excluding the Board;- 0.,5%(zero point five percent), for the board members.

Article 20.

All proposed ' exrenditure of the Central Bank shall be reported in an annualbudget TO be approved by the Board of the Central Bank and submitted for information tothe Royal Government and ,he l\ational Assembly.

i


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Article 25.The Central Bank may temporarily extend credit to tht; National Treasury at the

refinancing rate and a maturity not exceeding three months.1. For each suextension of credit, there shall be a credit agreement bet\\'een the

Central Bank and the borrower, which shall specify the amount of the credit, its maturity,and the interest rate.

2. Such extensions of credit shall be certificated by negotiable governmentsecurities delivered to the Central Bank.

3. The aggregate amou:1t of the outstanding extensions of credit and holdings ofsecurities described under Articles 24 for each financial year shall not exceed J0% (tenpercent) of the ordinary domestic budgetary revenues, excluding grants and proceeds fromthe sale of assets, for tbeprevious financial year.Article 26.

The Central Bank may purchase, sell or repurchase government secuntJesmaturing within 90 days which have previously been publicly issued, in open marketoperations, or in discount operations for. or extensions of credit to. financial i n s t i t u ~ i o n s . Article 27.

The Royal GovenUl1ent shall consult tbe Central Bank every year before thebudget is finalized with a view to establishing the total amount of credit which the RoyalGovernment ahd public entities may seek to secure from the Central Bank within thelimits prescribed by Article 25.Article 18.

The Central Bank shall pa11icipale in the management of both do:ncstic andfort'ip public debt including the i55ue of guaraatees ia f:l\our of creditors ..

Article 29.TI1e Central Bank shall, in consultation \\ith the Royal Government and in

c0nsideration of the f r ~ m c w o r k of the econdmic and financial p0ji..:-y of the Kingdom.determine and implement the Kingdom's exchange arrangements ::ild p0licy.Article 30.

1. The Central Bank shall maintain and manage an external reserYe c0l15is;ing 01the follo\\ing:9


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- monetary gold;- foreign exchange in the form of bank notes or coins and bankbalances held abroad;- any internationally recognized reserve asset. including

the entitlement 10 make reserve tranche purchases fromthe International Monetary Fund;the K i n g d ~ m ' s holdings of special drawing rights(SDR);

- bills of exchange and promissory notes denominated in suchforeign currencies payable at any place outside the Kingdom;

- treasury bills iss'Jed by foreign governments;- securities issued or guaranteed by foreign governments or

international financial institutions.2. TI1e Central Bank shall maintain the international reserve at a level adequate forthe international transactions of the Kingdom.3. The Central Bank shall submit a report to the Royal Government when the

official external resen'e has declined or may decline so as to jeopardize its adequacy,including an account of the causes and reconunendations on measures necessary 10r""'TIedy the situation. The Central B:mk shall make further regular reports to theGo\'errunent until the situation is remedied.

4. The Central Ba:lk shall be the depository of the official external assets of theJ(jngdom and is authorised to designate such agents as international financial ins:itutionsor f o r e i ~ n cer.traI banJ;.s or foreir.:n commercial banks with which these assets m:::v be- - .held.Article 31.

1. The Central Bank r e ~ u l a r i s e s the domes:ic exchange ,ale and to this effect isauthorised to:buy, sell or de::.l in gold co;ns or bullion or other precious ml?t:.llsand precious stones:buy. sell or deal i:1 foreign currencies using for these purposes anyof the instruments c0l11l11only used by bankers:purch2.se and sell treasury bi lls and other securities issued or

guarameed by f l ' r ~ i g n gO\'ernments anj public internationalfinuncial org;miz..l:ions;open and maintain accounts at banks and public internationallinancial organizeiliol1s abrozd;open and maintain accounts and act 3S c.gent or cOl1"espo;1dent forf ~ " ' r e i g n central bunks. foreign govcrnmcJ1ls . foreign gO\'emmentsagencies. and public imern:nional financial instirUlions; .dClermine ,he rale at which it "'ill buy, sell or deal in f(lreigncurrencies;establish limits on the net foreign exchange position of commercialbanks and n o n - b a ! ~ k flOreign e\change dealers:

;0


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issue regulations in relation to foreign exchange transactions and inrespect of transactions in gold,other precious metals and preciousstones;declare the official foreign exchange rates for the riel in relation (0other currencies, andparticipate in i n t ~ r n a t i o n a l financial agreements on behalf of thegovernment.

2. The Central Bank may not proyide to third parties guarantees which have theeffect of fixing future rates of foreign exchange and may not authorise or engage Inmultiple currency practices.Article 32.

,1. Any _net-gains in any financial year of the Central Bank. arIsing from anychange in the book. value of the Central Bank's assets or liabilities denom.inaled incurrencies or units of account other than domestic currency. shall be credited to a SpecialReserve Account.

2. Any net losses in any financial year of the Central Bank arising from any suchchange shall be set off against any credit balance in the Special Reserve Account and. ifsuch balance is insufficient to co\ 'er such losses, the National Treasury shall issue to theBank negotiable securities at the refinancing rates of interest to the extent of thedeficiency.

3. Neither net gains nor net losses referred to in this article shall be included in .the annual income statement of the Central Bank.

4. Any credit balance in the Special Reser.e Account at the end of each financialyear of the Central Ba!1k shall be applied to the redemption of any securities issued underthe pro\'isions of parngrnph 2 of this article.

-5. 1'\0 adjustments shall be made to the balance of the Special Reserye Accountother than in accordance with the provisions of this article.

Title VIII. Relations with financial InstitutionsArticle 33.

The Central ha:11< shall be exclusi\'ely responsible for the licensing. delicensingand super\'ision of banks and financial institutions subject to the b:mking law and thesupervision of other institutions as stated in Article 7 df this law. To that end. the CentredBank shall he empowered:1. to issue such decisions, regulat.ions, and other directins and to take such otheractions as it shall deem necessary in order to execute its powers and responsibilities underTitle II of this law. through proper liceusing and deliccnsing thereof and su;:>ef\lso:-ys t a n d a r d ~ and enforcement procedures:

11


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uf which must he that of a commercial hank and maturing within 90 days from the daleof their acquisition by Central Bank: however, proyided that bills of exchange andr r o m i s ~ o r y notes drawn or made for the purpose qf financing seasonal agriculturalproduction or marketing of crops may mature within ' 10 days fr0m the date of theirISSU!l1g ;

Cb) any go,'crnment securities forming pan of the public issue and maturing withil190 days from the date of their acquisition;

(c) any pri\'ate negotiable claims on the money market as wdl as 811 bankersclaims bearing credirn'onhy signatures and appearing on a list recogniscd by the Board:

(d) the Central Bank's own securities,The Central Bank shall fix and p u ~ l i c l y ann0unce its 111lmmUm rates for

rediscounts. advances, repurchases or loans. It may establish differential rates and ceilingsfor \'arious classes of such transactions or maturities,Article 37.

The Central Ba!1k may grant to comme:-cial bar.ks ad\'ances on their Cli..'Tentaccount which are secured by go\'cmment securities or government guaranteed securities.Article 38.

1. Each financial institution shall comply \\'ith the \\Tinen directi\'es that tl1eCen:ral Bank may issue to it, coilecti\'ely or on an indi\'idual has!s. conceming i:s bal::lncesheet accounts, off-balance-sheet commitmems. and income and expense statement items:pro\'ided, howe\'er. that such directiws may specify orrly:

- the minimum capital- the minimum a:"nount of net worth of a financial institution.. prohibi,ions. restrictions, or conditions and 0thern0titicmions ,

, Banks and financial inSliwtions that engage in similar acti\'ities and that arein comparable financial condition sholl be subject to similar rq;uI8:io!;s,Article 39.

I. A bank or financial i n ~ t i t u t i l ' n must furnish to the CC':,1ra1 B:mk suchi n f 0 r m ~ l l i ..)n ~ l l 1 d d:.na as the Ce;llral Bank mJY [e(:'..,;:'e :01' the discharge (\f its f'..i!1Cli"I:sand responsibilities,

The C('mia] Bank m ~ ! y p u b ] i ~ h such i n j ~ ' r m 3 t i ( ' 1 1 ai1J ,bla in whok cor in partin af:grcgate f,'rm for classes ( i f banks and i i !t l! lCd instilUtic':1s determined in acco!'d:'!!lce\\'ilh the nJture of their h l ~ i n e s s . whilst maint3ini:;g business c"ntiJentic'Jity,

J

The C t . J ! 1 ! r ~ 1 1 13J!-;k s h ~ l l r be" r ~ s p ( l ! ; 5 i r J e 1l!r r'!'onll.."")1!!1g I111Crbank StT\"ic(';:\ suchrisk centralisati,'!l :md unraid loans,

!:


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Article 40.In coorcr::tion with commercial banks. The Central Bank may establish a clearing

hOllse for the prom;lt and efficient clearing and senlement of interhank paYJi1ents .

Title IX Currency

Article/ 41.The monetary unit of Camhodia shall be the riel and shall be diYided into ten kac

and the bc di\'ided into ten sen. The symbol of the riel shall be ( f ).Article 42.

The Central Bank shall have the sole right to issue notes and coins denominated inriel. bc and sen.Article 43.

I. }\Jotes and coms issued by the Central Bank and not i t h d r a \ fromcirculation shall be legal tender within Cambodia and notes shall be valid for pa)ment ofunlimited amount and coins shall be kgc.l tender for limit amounts to be fixed by theCentral Bank.

2. Payment of a sum exceeding a cenain amount to be set by the Central Bankmayor shall be made by bank entryArticle 44.

l. The Central Bank shall be responsible for the printing of notes, the minting ofcoins and related matters, such as the security and movement of unissued notes and coins.and for the custody and destruction, where necessary, of plates, dies and retired notes andC0 1l1S.

2. Th e Cen td Ban k shall de!el11:ine ry regulation the \,anous characteristicsnot


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Article 46. 1 fl' "" . ..J ' -A, tie end 0 tIle exchange perJod re!c:rreu to In ArtIcle 4) :

1. notes a!1d coins called for in exchange shall , cease to be legal tender;2. the aggregate amount of notes or coins called in but not presented for exchangeshlll be deducted from the amount of currency in circulation on the books of the CentralBarlk and shall be treated as reve:1ue of t!1e Central Bank. .Article 4i.

Cpon surrender by any person to the Central Bank of any notes or coins which it'las issued, the Central Bank shall exchange on demand and without charge such notes orcoi::s for other notes and coins of equi\alent value.Article 48 .

.A..:.'y reproduction of notes, coins, checks, securities, or payment cards, whetherdenominated in riel kac or sen or in a foreign currency, and the creation of any objects thatby their design imitate notes, coins, checks, securities or pa;ment cards is forbiddenv.ithout prior \\Titten authorisation from the Central Bank.Article 49.

The Central Bank shall di:-ectly administer the currency reserve inventory, makeissue plans, and ensure the reg'..llar supply of notes and COlDS, in order to meet theKingdom's currency r e q ~ i r e : n e n t s in qua..'1tity a..'1d quality.Article 50.

The Central B a . 1 . . ~ shall \\itndraw unfit currency which shall be destroyed, a:11replaced \\ith notes and coir.s.Article 51.

The C eiitral Bal:"'" rr:a.y dec line to exchange notes or coins if their designs areillegible, misshaped or perfo rated, or if mere t h ~ i 30% ( thirty percent) of their surfacehas been lost. Such currer;cy shall be \\i,hdra\\n and destroyed without indemnity to theowner, except that, in special cases, the Central Balik may detel111ine \\hole or parti::lcompensatI on.Article 52.

Cou" terfeit notes i!:cluded in deposits or prese!lted for excbangeshail be seizeJ,,i,hout compens-ation a;:d reponed to ule competent au,horities.Article 53.

The Ce:1tral B3..:1.k shall not be rqu ircd to pro\ide any compensation for notes a:;jcoins that were lost or destroyed; it n1JY coniisC3 te without c o m p e n s ~ t i o n any notes thJ ,15


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have been altered in their external appearance, in particular notes that have been written0 11, pain ted on. o\crprinted; stamped or perforated, or to v,'hich adhesi\'e matter has beenapplied, or which have been ddaced in any other way.Article 54.

The a g g r ~ g a t e amount of circulatin.g notes and coins shall be recorded in theCentral Bank accounts as liabilities, and will not include notes and coins in the currencyreserve inventory,

Title X. AccQunts and Audit

Article 55.The financial year of the Central Bank shall commence on January 1 and end on

December 31 of the same year.Article 56.

The Central Ba:1k shall:I, keep books of account and other books and records in which shall be recorded

all its financial transactions, which reflect. accurately its financial condition In


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Article 59.The Central Bank shall not make equity im


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AI-tide 65_Any person who counterfeits coins or bank notes which are legal tender in the

Kingdom, or which are lega l tender in a foreign State, shall be liable to imprisonmentfrom 20 years to life .Such materi als or too ls shall be confiscated and retained as state property ordestroyed.

Article 66_Any person who kn owingly conveys, distributes or" etains for distribution any

counterfeit coins or bank not es shall be liable to imprisonment from 10 to 20 years .Article 67.

Any person who uses or retains, without an authorisation granted by the CentralBank , materials or tools which are ordinarily used for minting coins or printing bank notesshall be liable to imprisonment from 5 to J0 years. Such materials or tools sh all beconfiscated and retained as state property or destroyed.Article 68.

Any person who receives counterfeit bank notes or coins, believing they are legaltender, a...'1d who distributes such notes and coins after learning they are counterfeit, shallbe liable for a fme of 100 times the amount involved. .Article 69.

For the purposes of the administration of this law and in the proper performance ofits functions under this law, the Central Bank may call for such information as it ma yrequire fro :n an y perso n, including from any bank or financial institution and itsaffiliates.

Any pe rso n who fails 10 suppl y an y infon11 at ion called for by the Central Bankunder this an i.c!e or wh o kno \\'ingly supplies any fa lse or misleading infom1 ation shall beguilty of an offens e an d liabl e for a fine from },OOOOO OOO f ( on e mi llion riels) to10 :000 :000.00 f (te n milli0:1 riels) and lor impri so nme nt from I to 5 years .Article 70 .

A,1Y person w;10 .m2112ges a b3nk or financ ial institution. or engages in operations0f banking nature inc!udi l}g credit oper3;i()ns. brokering or dealing in foreig n e'\Cban ge , orthe receipt of mon ey s or effecting means of payment share deali ng. trading in gold,precious metals , preci ou s stones, withou t be ing granted a re quired authorisation by theCentral Bank therefor, sld l cease operat ion s up on an injunction of the Central Bank .

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Otherwise such person shall be liabJe fOf a fine from I,OOO,OOO.OOf (o:1e million) to1O,OOO,OOO,OOf (ten million riels) and'or to imprisorunent from 1 to 5 years.Article 71.

A:1Y person \>.'ho violates Article 15.1 a.'1d Article 16 of this Lav; shall be liabie toa fine from 1 00c!,OOO.OOf (one million) to 1O,OOO,OOO.OOf (ten million riels) and'or toimprison..rnent from 1 to 5 years.

Title XIII. Concluding P r Q \ ' i ~ i o n s Article n.

All provisions contrary to this law are hereby repealed.

Made in Plmom Penh, 26 January 1996

Signature

NORODOM SIHA."'JOUK

Submitted for the signature of H.M. the KingThe First Prime Minister The Second Prime Minister

1\'orodom Ranariddh Hun Sen

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5ubmined for ir!o:-r.1ation LOSa.:ndech the First and Second Prime \1in':steisNo. 36 CL

The GO"ernor of llle ::\,,!ior;z.] .3a:lk of For confim1a:ionCa::.1bodiaSigr,arure PblOm Penh. February 1, j996

Thor Pe;;g Leath Tile General Secretary o f t ~ 1 e Royal GovemJl1ent

Nady Ta;;

Journal Officiel - 4th Year - Special Number - January 1996

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NSIRKMI01 96127

TRADUCTION NON OFFICIELLE..

KRAM

NOUSNORODOM SIHANOUK

Roi du Cambodge

vu la Constitution du Royaume du Cambodge,- vu Ie Kret en date du 24 septembre 1993 portant nominationdu 1er Premier Ministre et du 2eme Premier Ministre,- vu Ie Kret en date du 1er Novembre 1993 portant formationdu Gouvernement Royal du Cambodge,- vu !e Kram No 02 .,.NS "-94 en date du 20 Juillet 1994proclamant I' application de la Loi sur I' organisation et Iefonctionnement du Conseil des Ministres,- vu Ie kret en date du 3 Septembre 1993 portant nominationde S.E THOR Peng Leat en qualite de Gouverneur General dela Banque Nationale du Cambodge,- vu la Loi portent loi de Finances en date du 28 Decembre1993 ,- sur la proposition des deux Premiers Ministres et duGouverneur General de la Banque Nationale du Cambodge,

PROMULGUONS

La Loi sur I' organisation et Ie fonctionnement de la BanqueNationale du Cambodge que I Assemblee Nationale a votee lorsde la Seme session de sa 1 ere legislature, comme suit:


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T i t r e 1 . D i s po s i t i o n s g ~ n ~ r a l e s

Art ic le 1La Banque Nationale du Cambodge (c i -apres designee la"Ban que Centrale") est une ins t i tu t ion autonome de dro i t public acara c tera commercial e t indus t r ie l .

Art i c le 2La Banque Centrale e s t une personna morale qui dispose del a pleine capacite jur idique e t , notamment de la capacite

1 / de pre ter , d'emprunter e t de cont rac ter tous aut resengagements;2 / d 'es te r en jus t ice;

3 / aux f ins de son ac t iv i t e , d 'acquer i r , de d ~ t e n i r e td 'a l i ener des biens meubles e t immeubles .

. . :::: t i cl e 3Dans Ie cadre de la pol i t ique economique e t f inanciere duRoyaume, la mission pr inc ipa le de la Banque Centrale es t dede f i n i r e t de conduire la pol i t ique monetaire dont l ' ob j ec t i f es t

d ' assurer 1a s t ab i l i te des prix af in d e ' creer des condi tic-nsfavorables a la croissance de l 'econornie.Ar t i c le 4

La Eanque Central-e di spose du pouvoi r regl ementai re qu' e l l eexerce par voie de decis ions , de reglernentat ions, de c i rcu la i resou d ' autres ins t ruc t ions , aux f ins de l 'accomplissement de sami s s i on a t de l ' app l ica t ion de la presente lo i .

Art i c l e 5La Eanque Centrale publ ie , per .iodiquement, le s cb jec t i f s

op era t ionnels de sa pol i t ique rnonetaire ( monnaie - cred i t - changet aux d ' in t e re t ) a ins i que les s ta t i s t iques concernant ,p a i ~ m e n t s e t les changes.

Artic:le 6Le siege de la Eanque Centrale es t f ixe a Phnom Fenl). LaB3nque Centrale peut e tab l i r , dans 1e pays, des succursales ,

agen ces e t a, l' e t ranger, des bureaux de represent at i on aprsappro bation de son Conseil d 'Administra t ion. '


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Ti tre 2. Fonct ions g ~ ~ ~ ~ a l e s Article 7

Les fonct ions e t a t t r ibu t ions de la Banque Centrale sor:t' suivantes :1/ D ~ f i n i r les object i fs de la pol i t ique m o n ~ t a i r e en consu:tantIe Gouvernement Royal dans Ie cadre de Ia pol i t ique ~ c o n o ~ i q u e e t f i n a n c i ~ r e du Royaume du Cambodge.2/ Concevoir, e x ~ c u t e r e t contrOler la pol i t ique m o n ~ t a i r e et !a

p o l ~ t i q u e de change c o n f o r m ~ m e n t aux objec t i f s ~ t a b l i s . 3/ P r o c ~ d e r p ~ r i o d i q u e m e n t aecono-mique e t mcnetaire,soumettre au Gouvernementmesures.

une analyse de la s i tu3t ionen publier les resul ta t s s t ,Royal des proposit ions e t ces

4/ Prononcer eu r e t i r e r l 'agrement d 'exercer let,;r ac t :v i te al ' egard des ~ t a b l i s s e ~ e n t s bancaires e t finanCiers, eu al ' ~ g a r d d 'aut res $tabl issements c o n c e r n ~ s te l s que ~ e s corn.-nissaires aux comptes eu les l iquidateurs , a ins i q"Je lesr ~ g l e m e n t e r e t les cent r6 le r .

5/ Survei l l e r les systemes de paiements sur Ie te:-ri toi:-e c',"Reyaume du Cambedge e t ameliorer l ' e f f i c a c i t e desr ~ g l a m e n t s in te rbancai res .

6/ Agir en q u a l i t ~ d 'enet teur exclus i f de la rnonnaie nat ionaleeu Royaume eu Cc..n:bodge.I

7/ ;.ssumer e t executer, au no:n du Royaume du CaIi.bodge, ~ e s operations qui decoulent de la part ic ipat ion 'cu R e y a ~ ~ e a ~ x ins t i tu t ions publiques in te rna t iena les cans les denair-es de labanquet du cred i t et de la monnaie.8/ Etabl i r la balance des paiements.9/ Par t ic iper a1 ' ex ter ieur . gest ien des c r ~ a n c e s e t det tes v is a vis

10/ Par t ic iper a la c r ~ a t i o n e t a la survei l lance des mercnesmonetaire e t f inanc ier .11 / ?rO!1oncer,cu r e t i r e r l 'agre",e:-:t Q'exercer Ie:]!" acti-,: : te c.1 'egard de tous les etablissernents qui fent professiond'interve!1ir sur les m a r c h ~ & de t i t r es de creance; de valeurs

mobil ieres, de change, de pier res e t de metaux precieux ains i~ u e les r ~ g l e m e n t e ! " e t les cont ro ler .12/ determiner les taux d ' i n t e r ~ t .

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Art ic le 8Banque Centrale peut o u v r i ~ dans ses l iv res des comptesau nom

des organi smes e ta t iques ou organes d ' admi ni s t r a t on centra le ,notamment Ie Tresor National ,des etabl issements bancaires e t f inanciers d ~ n t 1 'agrement ae te prononce par la Banque Centrale ,

- des bangues centrales e t r a n g e r e ~ e tf inancieres publiques in ternat ionales . des ins t i tu t ions

La Bangue Centrale n ' e s t pas autorisee a ouvrir des comptesau nom des ent repr i ses ' indus t r i e l l es ou commerci a les , y compri scel les qui appart iennent a l )E ta t .

Ti t r e 3 . Autonomie de la Banque Centra l e.Z:. r t i c le 9

Pour remplir sa mission, la Banque Centrale dispose, parGel egation permanente du Gouvernement Royal, d 'une autonomieoper a t ionnel le a charge, pour e l l e , de rendre compte a l 'AssembleeNat ionale e t au Gouvernement Royal de l ' exerc ice e t des resu l ta tsde sa mission.

Le Gouverneur de la Banque Centrale peut par t-i c iper e tn d r e la parole aux reunions du Gouvernement Royal sur

l ' j ~ v i t a de ce dernier . Le Ministre ou Ie Secre ta i re d 'Eta t de1 'Ec onomie e t des Finarices peut par t ic iper e t prendre la parole aux:-ec nions du Conseil d'Administration de la Banque Centrale , sur1 ' i n v ) ta t ion de ce dernie r .

. l ' i nvi ta t ion de l 'Assemblee Nationale, Ie Gouverneur oul es membres du Conseil d 'Administra t ion doivent expl iquer ]apol i t iq ue de la Ba nque Centrale ou presenter leurs commentaires surls s pr oje ts de l egis la t ion devant l 'Assemblee Nationale cu sescomites specia l i ses .

Art ic le 10A la f in de chaque semestre,preSe:1ter a I ' . s s e i : 1 b l e e National e e trapports comport ant

la Eanque Centrale doi tau Gouvernement Royal _des

- une evaluat ion, dans ses grandes l ignes, de la s i tua t ioneconomique e t f inanciere du Royaume du Cambodge a ins i qu'une

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desc r ip t ion de l a po l l t ique monetaire e t de la pol i t ique dechange qu ' e l l e entend a p p l i ~ u e r au coGrs des s ix mois su ivan ts c ude tou te per iode plus longue;

- un reexamen e t une evalua t ion de l ' execu t ion de la p o l i t i quemoneta i re e t de la pol i t ique de cnange pendant la per iodecouver te par Ie precedent rappor t semes t r i e l .

Ar t i c l e 11Outre ces rappor t s , la Banque Cent ra le do i t prese n;:er al 'Assemblee Nat ionale ou au Gouvernement Royal, tou t qu eces dern i e r s lu i demandent.Ti t re 4 . Direc t ion de 1a Banque cen tra le

Art i c l e 121- L 'organe d i r ec t eu r de la Banque Cent ra le e s t Ie Consei l

d 'Adminis t r a t ion . Le Consei l d 'Adminis t r a t ion , c i -apres des igne"Ie Consei l" e s t pres ide par Ie Gouverneur. I I se compose de 7meffibres: Ie Gouverneur , Ie Sous-Gouverneur e t 5 au t res membres,a savoi r , un represen tan t du Gouvernement Royal, unr e p r e s ~ n t a n t du Minstre de l' Economi e e t des Finances, unrepresen tan t du monde economique, un represen tan t de1" enseignement s u p ~ r i e u r e t un represen tan t du personne l de }aBanque Cent ra le .Pendant la duree de l eu r mandat, Ie Gouverneur e t Sous Gouverneur ne peuvent e t r e fonc t ionnai res , ni consei l le : - s d ' u ::ee n ~ i t e publ ique , ni membres du Gouvernement Royal, ni memb re sde I I Assembl ee Na t i anal e . I I en va de mer.,e pour I es a ut ::- e smembres du Conse i l d 'Adminis t r a t ion , a } except ion de srepresen tan t s du G o u v ~ r n e m e n t Royal e t cu i n ~ s t rl ' Economie e t des Finances e t a l ' excep t ion de 1 'unive:::-sita i r equi peuvent conserver , chacun, l eu r q u a l i t e de fonct ion nal re .

2- Les a t t r i b u t i o n s du Conse i l sont notamfnent le s su ivante s :e t a b l i r la pol i t ique appl icab le aux oper a t i ons 62 }2 Eanqu0Cent ra le ,pre ndl"e les deCisi ons, reglEi7le!l t s , : C : . i r e s e :: t : . - (i n s t r u c t io n s , p6ur r e g i r l ' a c t i v i de 12 Banque Centr a le ,etE .b l i r le s ,reglements i n t e r i eu r s ,e l abo re r le s $ t a t u t s du personnel ,

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c r ~ e r le s d ~ p a r t e m e n t s de l a Banque Cen t ra l e ,c r ~ e r Ie comite de v e r i f i c a t i o n des comptes ,c r ~ e r Ie comite de format ion profe s s ionne l l e du personnel .

3- Le Gouverneur a g i t en q u a l i t e de premie r d i r ig ean t de l a BanqueCentra le a t e s t responsable devant Ie Consei l de l ' execu t ion desa p81i t ique . II e s t charge de condui re l ' a c t i v i t e de la BanqueCent ra le e t e s t habi 1 i t e a agi r dans ,tous le s domaines qui , enver tu de la presen te 10i ou des ' au t re s reg lementa t ionsconcernees , ne son t pas expressement r ~ s e r v e s au Conse i l .Le Gouverneur nomme Ie personnel de l a Banque Cen t ra l e . I Ipropose au Consei 1 Ie montant d,es t r a i tementsa l i ver se ra ins i que le s dive r s avan tages soc iaux a o f f r i r a u x cadressupe r i eu r s .

4- Le Sous-Gouverneur e s t h a b i l i t e a exe rce r le s a t t r i b u t i o n s que1e Gouverneur ' 1u i conf i e . En l' absence du Gouverneur, i 1 , 1eremplace.

A::-ticle 13Le Gouverne c.: J!' e t Ie Sous-Gouverneur son t nomrnes, remplaces ,

demis de l e u r f o ~ c t : o n par Kret su r propos i t ion du GouvernementKo yal ,

~ e s au t re s membres du Conse i l d ' Admini s t ra t ion son t n o r r ~ e s , e ~ p l a c e s , demis de l e ~ r fODction par Anukret .

I l s son t c h o i s i s su r une l i s t e e t ab l i e par Ie Gouvern'eur e tcomprenant un nombre t r i p l e dans chaque ca tegor i e , de ce lu i desmembres a des igne r .

Ar t i c l e 141/ Les membres du c o n s e i l s o n t des personnes dont 1 ' exper ience e t1 a repu ta t i on son t reconnues dans 1es domaines economi q ue

f inanc ie r e t ages de moins de 65 ans . Leur mandat , d ~ n t laduree e s t de 4 ans , e s t renouve lab le une f o i s seulement . Lorsdu premier Consei l , cons t i tue conformement a, l a presen te 10i ,la duree du mandat de 2 membres, au t re s gue Ie Gouverneur , IeSous-Go'Jverneur e t Ie r epresen tan t du persone l de la BangueCent ra le , eEt f ixee , par t i r age au s o ~ t , a 2 ans a compter dela da te de l eu r nominat ion .

II leur e s t i n t e r d i t , a i n s i qu'aux membres de l eu rfami l le proche, d ' ~ t r e ac t ionna i re s de t o u t e tab l i s s emen tbancai re e t f inanc ie r soumis a l a t u t e l l e de l a Banque Cen t ra l e .

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2 / Les membres du Conseil sont tenus de divulguer i n t ~ g r a l e m e n t auConsei lIes importants i n t ~ r e t s commerci aux, f inanciers ,agricoles , indust r ie l s ou autresqu'eux-rnemes OU les membres deleur fami 11 e proche peuvent posseaer, di r.ectemept cuindirectement, e t doivent s ' abs t en i r de par t i c iper au vote surtoute q'-lestion sournise au Conseil pour d ~ c i s i o n . e t qui sera t tacherai t a ces i n t ~ r e t s . l I s peuvent, n ~ a n m o i n s , par t i c ipera la re'-lnion aux f ins de la cons t i tu t ion d'un quorum qui se ra i tf i x ~ par Ie r ~ g l e r n e n t i n t ~ r i e u r du Consei l .

Art ic le 16Les di r igeants , agents e t membres du Conseil de la EanqueCentrale ne doivent divulguer a quiconque aucun renseignementimportant-qu' i ls auraient acquis dans 1 ' exercice de leurs fonct ions

sauf dans Ie cas ou la lo i Ie permet au lo r squ ' i l s y sent tenus par~ n e d ~ c i s i o n de Jus t ice .

T i t r e ' s . C a p i t a l , a f f e c t a t i o n des bene f i ce s e t budget

J..rticle 171 / Le capi ta l de la 2anque Centra le es t f i x ~ par An'-lkret. I I peut

et re rnodifie en tont que de besoin. I I es t souscr i t en t o t a l i t ~ e t d ~ t e n u exclusivement par Ie Gouvernement Royal e t ne peut~ t r e ~ e d ~ , ni g r e v ~ d'aueune charge.

2/ Chaque :0:5 qutc.u :, i lan ce la Banque Centrale, la valeur de soncet i f reel e s t infer ieure a la s o ~ ~ e de son pass i ! 1eG o u v e r n e ~ e n t Royal, doi t remettre a la Eanque Centrale dans und ~ l a i de 6) jours a compter de la publicat ion de ce bi lan, p o ~ r combler le def ic i t , des t i t r e s d 'Eta t ~ ~ g o c i a b l e s d'un montants u f f i s a ~ t e t p r o d ~ i s a n t un i n t a r ~ t au t 5 ~ X refinancement .

. ! . r t i c le 18Le r ~ s u l t a t 6e chaque exercice de la Eanque Centrale estcalc .. le apres deduction des depensEs de :::c,jct:onner:-,ent de cetExercice et const i tut ion

1 / de dotations a ~ x comptes de provisions pour r i s q ~ e s e tdet=:rec: 'ct ions e t cL:x CC'T7'


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3/ d 'une r ~ s e r v e g ~ n ~ r a l e de 20%a p r ~ s 1es d$duct ions p r ~ v u e s a r t i c l e ,

"\(v ing pour cent) du r e s ' J l ' ~ o t aux al ineas 1 E::t 2 de ce t

4/ d 'une rese rve pour remboursement des t i t r e s d ~ t e n u s ?a r laBanque Centra le ,

5/ d 'un fonds pour inves t i ssements au se in de la Banque Centrc led ~ t e r m l n e e par Ie Consei l d 'Adminis t ra t ion .

Article 19Le revenu n e t e s t a lo r s t r ~ n s f e r e au Budget na t iona l , apres

deduc t i on- :a / de 5%, (c inq pour cen t ) pour Ie personnel , a t i t r e de

p a r t i c i p a t i o n , exc lus ion f a i t e des membres du Consei l ,b / de 0,5% (zero v i rg u l e cinq pour cen t ) pour le s membres duConsei 1.

Article 20Tous le s pro je t s de depenses de l a Banque Centrale fC:1t

1 ' o b j e t d 'un budget annuel que d o i t approuver Ie Conseil e t qui e s tcommunique au Gouvernement Royal e t a l ' A s s e m b l ~ e N ~ t i o n a l e pourin fo rmat ion .

T i t r e 6 . R e l a t i o n s f i n a n c i ~ r e s avec l e s e n t 1 t e s p u b l1 0 u es

Ar t i c l e 211 / La Banque Cent ra le e s t , pour le s fonds en monnaie

na t iona le , Ie depos i t a i r e exc lus i f du T ~ e s o r National .La Banque Cent ra le en r eg i s t r e , pour Ie compte ell TresorNat iona l , tous le s ' depo ts e t tous le s r e t r a i t s regul ierementimputables .La Banque Cent ra le f ixe avec Ie T r ~ s o r Nat ional la remunerat iona lu i ve rse r pour t ou te s le s ope ra t ions a e f f ec tu e r pour sencompte.

2/ Les rece t t e s en dev ises du T r ~ s o r National sont ceoes a 1 2Banque Cent ra le qui c r ~ d i t e Ie compte unique du Tresor de 1acon t r eva leur en monnaie na t iona le au COUTS du jour .

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2/ Ces o p ~ r s t i c n s de c r ~ d i t d c i v e t re a u t h e n t i f i ~ e s par 12remise 1a 2s nque Centrale de t i t r e s d ' Etat n ~ g o c i a ~ l e s . 3/ Le montant to t al des c r ~ d i t s octroyas a t des t i t re s d ~ : eco;iforrnem.:::r:t l ' art ie le 24 ne peut depasser, po'..:r chc ql-"eexercice, 10% (dix pour cent) des recet tes budgetaires

ordinaires de 1 ' exercice p r ~ c e d e n t , dens e t procui t des ventesd ' ac t i f s e}:ch.:s .. c l e 25

ua ns Ie c2dre d ' ope r ations d ' open-market OU d' operat :i c:n sd' escompte ou de credi t a vec des eta!:)l i sseiC,ents ba;,cai r es e tf i na nc iers , la 22nque Centrale peut venere, acheter, :::ren8re Co 'Jmettre en pensicn des t i t r e s d ' Etat p : r e c ~ d e r m n e : : t e rr. i s 02. ;; S .8p u ~ l i c et arr iva nt a e c h ~ a n c e dans les 90 jours .

Artic le 27La Gouverneme:1t Royal consul te tous les ar:s 1 a B a : 'Centrale avant de mettre au point d ~ f i n i t i v e m e n t Ie Budget Nationa len vue d 'e t ab l i r Ie montant to ta l du cred i t que Ie GouvernementRoyal e t les e n t i t ~ s publiques pourront chercher obtenir de 13Banque Centrale compte tenu des l imites prevues 1 'a r t i c l e 25 de.la pr:.esente 10 i .

Art ic le 28La Banque Centrale part ic ipe l a gest ion de l ' e n d a t t epublic , interne e t externe, y compris en ce qui concerne l 'emiss i cnde garant ies au prof i t des creahciers .

T1tres 7 . R6g1me e t po11t1que de changeArt ic le 29

La Banque Centrale e t ab l i t e t applique 1a poli t ique et Ieregime de change du Royaume, apres consul ta t ion du Gouverneme:-ltRoyal, dans Ie cadre de la pol i t ique economique e t f inanciere duRoyaume du Cambodge.Artic le 30

1/ La Eanque Centrale det ient gere les rAserves exter ieuresof f ic ie l l e s composees, notamment :

d 'or monetaire;

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de devises, sous forme de bi l l e t s ou de p i ~ c e s e t de sol desbancaires detenus a l ' e t ranger ;-,. d' avoirs de reserve reconnus sur Ie p) an in ternat ional ,

notamrnent :les devises achetees aupres du FondsIn ternat iopal dans tranche de reserve, j/ 'onetaire

les avoirs du Royaume du Cambodge en droi t s de t i ragespeci auy. (SDR);de l e t t re s de change e t de bi l l e t s a ordre I ibe l les endevises e t payables sur des p lacesex te r ieu re s au Royaume;dES bons du Tresor emis par des gouvernements etrangers ;de t i t r e s emis cu garant is par des gouvernernents et rangersdes etcblissements f inanciers internat ionaux.

2 / La Eanque Central e doi t mainteni r 1es reserves exter i eures a unniveau suff isant pour garant i r les operat ions in ternat ionalesau Royaume du Cambodge.

3 / Lorsque les reserves exterieures of f ic ie l l e s tombent ourisquent de tomber a un niveau insuf f i san t , la Banque Centralesoumet au Gouvernement Royal un rapport dans lequel e l le exposeles causes de ce t te evolution e t les mesures necessaires pourl a carr iger , jusqu'a ce que 1a s i tua t ion so i t redressee.

A '.. / La Banque Centrale gere les avoirs exter ieursRoyaume cu Cambodge e t dispose du dro i t derr.andataires e t depos i ta i res te ls que lesf inancieres internat icna1es cu le s tangues,

c O ~ ~ E r c i a l e s etrangeres .

of f i c i e l s euchois i r le sins t i tu t ions

cent ra les ou

Art ic le 311/ La 5anque C e n t ~ a l e regular ise le cours de change de 1a monnaienat ienale . A ce t ef fe t , e11e es t habi l i t ee , notamment

a fa i re toutes t ransact ions sur pieces ou 1ingots d 'c r e ts u ~ d 'autres m ~ t a u x precieux e t pier res p r ~ c i e u s e s ;

fa ire toutes t ransact ions sur devises au moyen de toutinstrument qu 'u t i l i sent c o m m u n ~ r r . e n t les banquiers;- a fa i re toutes

d 'autres t i t rese t rangers euinternat ionaux;

t ransact ions ~ u r bons du Tresor 0".1 suremis eu ga.ran t i s par des gouvernementsdes etab1 i ssements f1 nanciers publ ics.,'.

11


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4 / Tout solde du Compte speci 0.1 de reserve quia la f in de l ' exerc ice de la Banque Centraleremboursement de l' encours des t i t res emi sl ' a l inea 2 du present a r t i c l e .es t credi teur

es t employe aucon f 0 rrnernen t a5/ Le solde du compte de reserve spec ia l ne peut e t re ajuste qu'en

conformite avec Ie present a r t i c l e .Tit re 8. Relat ions avec les etab l is sements bancai res e t f inanciers

Art ic le 33La Banque Centra le jou i t d'une competenc,e exclus ive enmat i ere d' agrement ou de re t ra i t d' agrement e t de control e des

etabl i ssements bancai res e t f inanciers e t des aut res e tabl i ssementsprevus a l ' a r t i c l e 7 de ce t te lo i . A ce t te f in , la Bahque Centra leest habi l i tee a1 / e tab l i r les decis ions , reglements ou aut res ins t ruct ions a ios ique prendre toutes autres mesures qu 'e l le juge necessa i res pour

def in i r e t fa i re appliquer les normes d'agrement e t defonctionnement de ces etab l is sements a ins i que pour r e t i r e r lesagrements a ins i donnes dans Ie cadre de ses fonct ions prevuesau t i t r e II de la presente lo i ;2/ surve i l l e r , regulierement, sur pieces e t fa i re inspec ter , surplaee, par tout membre de son personnel ou toute aut re personnecompetente nomrnee a ce t e f fe t , l ' a c t i v i t e des etablisser. ,entstc.:Kaires e t f inanciers e t ver i f i e r l eurs comptes. livr-8S,

ecr i tures e t au t res documents;3 / demander aux

b a n c a i r : ~ e tdont e l l e aadmini s tra teurs ou empl eyes deS eto.bl i sseme:;t s

f inanciers de lu i communiquer tou t renseignemer.tbesoin pour ed ic te r les r-eglementoticns e teffec tuer ses controlBs;

4/ in tenter tout recours devant le s Tribunaux au prononcer. e l l e -meme, les sanct ions prevues par le s lo i s en vigueur en casd ' infrac{ions cormnises par les etabl issements bancair-es e tf inanciers ou par l eurs administ ra teurs OU employes :

.en viola t ion des disposi t io ns des lo i s en vi ,gueur C,] de sreglements de la Banque Centra le- en CoS de manquement a leurs engageme Tl ts- en casd: inobser\ '"6t ion des meS'.lrE:S de pol i t ique monetai : 'e

deS m . e l : ? ~ r e s prudent ie l les qui le1..1r ont prescr i tes .

] 3


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Artic le 34La BanqueCentrale es t habil i tAe a ouvrir des c o ~ p ~ e s et Arecevoir des d ~ p ~ t s au nom ~ e ; ~ t a b l i s s e m e n t s bancaires

f i ~ a n c i e = s qui exercent leur a c t i v ~ : ~ au Royaume cu Carnbodge seIGndes m o d a l i t ~ s - y compris Ie paiement d ' i n t ~ r a t s e t Ie p r ~ l ~ v e ~ e ~ t de c o ~ m i s s i o n s - , qu 'el le es t habi l i tee a Atabl i r .

Article 351/ La Eanque Centrale es t habi l i tee a exiger des etablissementsbancairas a t financiers, par " ':lie d'annonce pu!Jlique cu Faravis ec r i t n o t i f i ~ a leur siege au Royaume, qu ' i l s maintiennentdes reserves cbligatoires . Ces reserves sont maintenues sous

forrr,e d' e:-lcai sses cu de depots s p ~ c i aux dans des ccc:-.p:escourants ouverts !a Banque centrale .... /-:.. Laee

Lee te tce

Eanque centrale est tenue d'imposer les mmes c o e f f i c i e ~ t s r ~ s e r v e s aux engagements analogues.montant to ta l des r ~ s e r v e s que les eta!Jlissemehts bancairesf inanciers doivent detenir es t f ixe en fonetien des d ~ p 6 ~ s a ~ t r e s engagements analogues qu ' i l s peuvent avoir a l 'egardl e ~ r s c l ien ts .

Toute imposition de coeff icients de reserves o!Jligatoires, ournajoraticn de ces coeff ic ients , n I entre en vi gOJet:r qu' apres C "Onot i f icat ion en a i t e te fa i te dans un delai d't.:.n 17::li5 a'..:.xeta!Jlissements concernes.La Bangue Centrale pet:t exempter cer ta ines categoriesd'etablissements bancaires e t f inanciers de l 'o!Jligat:' .c" c.e. rnain:enir des reserves.

3/ La Ea::-Ique Centrale es t ha!Ji 1 i tee a lmpcser a tout e tabl isse:: :e:-;tqui ne respecte pas l 'obl igat ion de maintenir des : r ~ s e r o ; e s obligatoires une commissicn au taux de 1/10 (un d i x H ~ r : ; e ) c.udernier ta'..:.x ce refinaneement pratique par la Eanque Centr.::.lepar jour d' infract ion. Cette cOIT',missicn pet:t etre p r e l e v ~ e s,-"rIe solde de tout compte ouvert au nom de l 'e tabl issement s ~ r les l ivres de la Eanque Centrale.Article 35

1- La Eanque Centrale es t habiDitee, aux condit ions qu 'e l le f ixe,a acheter , a vendre aux ' tabl issements bancaires e t f i n a n c i E ~ s cu a leur escbnpter, leur r ~ e s c o m p t e r , a ins i qu'a p r e ~ j r e cua mettre en pensien :


66/73

al des l e t t r e s de change ou des b i l l e t s ordre t i r ~ s ou ~ t a b ldes f :ns cOflUi",;rciales, i ndus t r i e l l e s ou a g r i c o l e s , p o r t an tau mains deux s ignatures so lvables , dant l ' une au moins d'unet,ar,q;.Je cO",J.,oi:l"ciale, e t venant a echeance daDs un dElai de 90j ours compter de 10. date de l eur acquis i t ion par Ia Eanque .Toutefo is , Ies l e t t r e s de change ou le s b i l l e t s a ordre t i r e sou ~ t a b l i s pour f inancer Ia production ou la commercialisationde d e n r ~ e s agr ico les sa isohnieres peuvent a r r i ve r e c h ~ a n c e dans un dEdai ce 210 jours compter de Ia da te de leur

s s i o n ,

bl des t i t r e s d 'E ta t ayant f a i t I ' o b j e t d 'une ~ m i s s i o n pu b l i quee t venant echeance dans un dela i de 90 jours a compter de Iadate de l eur acquis i t ion ,

c / des t i t r e s de creances p r i v ~ e s negociables sur Ie marchen ~ t a i r a a ins i que toutes creances bancai res pr ivees r e v ~ t u e s ce s ignatures so l vables e t f igu ran t su r une l i s t e reconnue per1e Conseil d 'Adminis t rat ion,d E S tit res ernet, cet e f fa t ,

, - 1a Ean que Ce n t r a l e f i xe e t ses t a ux rrin i mums pou r l es~ e s c av ances, pensions ou El l e peut a b l i r de staux e t des p l a f G i ~ ~ r e n t s se l e n le s di verses e a t ~ g ~ r i e s

t i o ~ s a u d ' ~ c h t n c e s .

:_a Bangue Centra le pe u t acco r der c '':X bc. !"l ques cOlTu71ere i ales ,e e s en compte co u ra n t garan t i e s par des t i t r e s d ' Et a t cu

de s t i tr6s garant l s par E ~ c t . An i c l e 38

1 ,1 !.,e s ~ t a b l i ssements bancaires e t f inanciers sont tenus de S f?c o ~ f r ~ 2 r aux d i rec t ives e ~ r i t e s que 1a Banque Centra le ?eutJe 'J r . ac'lresser, collectiveme:-,t c;) a t i t r e inclvj.c'Jel, cu sl1 je td 2 l e t : r bi lan , de le 'JIs engagements hers bil3.l1 e t de le u r

ed ' ex p 0 i t c t:: 0:1 eo:1C1? r-;)cr. t , not ammen t ,- 1e ca p i ta l m i n ~- Ie montant minimum aes fonds propres nets d 'un ~ t a b l i s s Q m e n t

bancaire ou f inancie r- les in te rd ic t ions , r e s t r i c t i ons r condi t ions au prescr ip t ionsdiverGe s ,

15


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hr t ic le 441 / La 3anque Centrale prend en charge l ' i m p r e s s i o ~ des b i l l e t s e t1a frappe des p i ~ c e s e t toutes questions y a f f ~ r e n t e s , te l1esque la se,curite de la conservation e t des mouvements de bi l l e t s

e t pieces non ernis, la conservation et la destruct ion, s ibesoin es t , des planches e t matrices servant A l ' impress ion cuA la frappe a ins i que des ' b i l l e t s e t pieces re t i re s de lac irculc t ion.

2/ Elle e tab l i t , par reglement, le s diverses carac te r i s t i ques,notamment valeur nominale, dimensions, poies e t modeles 'desbi l l e t s A imprimer e t pieces A frapper.!>.rt1cle 45

La Banque Centrale est habi l i tee A echanger apres l 'accorddu Gouvernement Royal, pour les r e t i r e r de la c ircula t ion, lesbi l l e t s e t pieces qu 'e l le a emis; e l le les paie A leur valeurnominale en les echangeant contre d 'au t res bi l l e t s ou pieces e ~ i s par ses sOins ' ,Cet te dEcision prend la forme d'un reglement de la3anque Centrale qui precise la periode e t les bureat:x ou lesbi l l e t s e t pieces doivent lu i etre presentes a des f ins d'echange.Art ic le 46

A l ' expira t ion de la periode prevue a l ' a r t i c l e 45 pou!"l 'echange :1/ les bi l l e t s e t pieces rappeles a des f ins d ' echange cessentd'avoir cours legal ;2/ Ie montant to ta l des bi l l e t s e t pleces rcppeles mais nO:1presentes a l 'echange es t deduit du montant de l a rr,cnna:e 8n

c ircula t icn f igurant dans le s l iv res de la Eanque Centra:eest consi dere corr:.,e des recet tes de 1 a 3ar;qt:e Central e .

.~ r t i c l e 1:7Quiconque cede A la Banque Centrale des bi l l e t s ou piecesqu 'e l le a emis est en droi t d 'obteni r en ~ c h a n g e , sur dernande a tsans commission, d 'autres b i l l e t s au pieces de valeur equivalente.

ArticleII es t in te rd i t ce reprOOUlre des b i l l e t s , plEces, chegqes,t i t r e s ou car tes de pa i ement, l ibe l l e s e:1 r ie ls e:1 ~ E C au en SEn OU

e:1 ,me monnaie etrangere, ni de creer des objets ir:H ten t lesbi l l e t s , pieces, cheques, car tes de p a i e m e ~ t , sans avoir obtenu 2Uprealable l ' a u t o r ~ s a t i o n ecr i te de la Senque Centrale.

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Artic le 49Ca Eanque Centrale a d ~ i n i s t r e directement Ie stock da

-, mo;-:naie en : eserve , E:t2.blit les pro':;jrern.:T,es d'emission e: veil l e afOlJ!:"nir p e r i o d i q ' ~ ~ r r ! e ~ t le s b i l l e t s e t p iece s rJecessaires p o ~ r r ~ p c ! 1 d r e , e:1 quanti te e t e:1 qual i te , a.tlX besoins e:1 r.


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Article 56La Banque .Centrale doi t1/ t en i r des l ivres de comptes e t autres documents dans lesquelsel le enregis tre toutes ses operat ions f inancieres e t qui fo"t

apparai t re avec exactitude s i tuat ion f inanc:ere conformemer:taux principes e t modal i tes ,comptables generalement reconnuspour les banques centrales ,2/ dresser e t publier , me.nsuellement, un rapport resume de SES

act iv i tes ,3 / soumettre au Gouvernement e t a ~ ' A s s e m b l e e N a t i o n a l e . dans lessix rnois qui suivent 1 ' expirat ion de c ~ a q u e ey.ercice, une copied e s e s comptes annuels, a ins i qu'un rapport publiaole sur sas

operations e t sur la s i tuat ion economique e t menetaire penccr.tl ' exercice ecoule.Artic le 57

Les cornptes financiers de la Banque Centrale s e ~ t v e r i f ~ ~ s par un Comi te speci al nOiilr.,e par Ie Gouverneme:1t Royal.

T i t r e 1 1 . D i s p o s i t i o n s d i v e r s e s.Article 58

Les avoirs . bier:s, revanus, c p e r a t i o n ~ e t t ransact ions : aEanque Centrale sont exoneres de t ous i ~ p 6 t s e t taxes .Artic le 59

La Bangue Centrale n ' e s t p ~ s ha j i l i t ee ~ p r e n d r e ~ e s par t ic ipat ibns dans des etablissements bar.csires eu f i n a n c ~ e r s eucans des ent repr ises a caractere incf (c:nq pour ce!"".t) de ses f o , , ~ s prcpres.


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Article 60La Banque Centra!e ne peut ~ c q u ~ r i r , Ear voie d 'achat eu deboi l notaJil.meDt, des d:-oits ree ls sur un bien im rnobilier, sau .f s ' i ls ' ag i t de biens n ~ c e s s a i r e s a l 'exe:-cice de son a c t i v i t ~ et de seeat t r ibut ioDS ou correspondants aux act ions socia les qu 'e l l e entendconduire en faveur de son personnel .Aucune dispos i t ion eu present a r t i c le n'er.,pec/";e la BanqueCent ra l ed' acquer i r , dans 1 e cadre du pai ement de ses creances,1 'un des dra i t s vises a l ' a r t i c l e 59 ou au present a r t i c l e .

Article 61Tous le s d e c i s i o : re2'lements e t a1Jtres i:1structif):-. s etc:>l ispar la Banque Centrale et qui sont d 'appl ica t icn generale pour le se tabl issements bancaires e t financie:-s sent publie:s 2'.1 Journ21

of f i c i e l e t entren t en v i g u e ~ r a la date de ce t te publ icat ion ou atou te autre date u l t ~ r i e u r e que ces d ~ c i s i a D s , reglements e t autresins t ruc t ions peuvent preciser .

Article 62Aux fir.s de l ' app l ica t ion de la presente lo i , la SanqueCentra le es t hab i l i t ee a i n t en te r a tou t s tade de la p:-ocedure des

ac t ions c iv i le s accessoirement aux act ions penales .Article 63

La re s t r i c t ion visee a 1 'a l i r :ea 3/ de 1 ' a r t i c l e 25 ce lapresente le i s 'appl ique aux c red i t s accordes apres la date d 'entreeen vigueur de la presente l e i .

Titre 12 - Sanct ionsArticle 64

Quiconcue n 'accepte pas, en paiement, la monnaie q ~ i a coursl ega l e t poL;voir l ibe ra to i re su r Ie t e r r i t o i r e du R::Jyaume dolCambodge es t pass ib le d'une a ~ e n d e egale a 100 fo is Ie r n o n t a ~ t dJpaiement en cause.

J. .rt icle 65Quiconque cont refa i t des b i l l e t s ou des p i ~ c e s qui ont cours

l ~ g a l sur Ie t e r r i to i re cu Rcyaume du Caffibodge OU d'un autre Etate s t passib!e des peines d ' e m ~ r i s o n n e m e n t de 20 ans j u s q u ' ~ p e r p ~ t u i t e . Les p i ~ c e s a Gonviction sent consfiquees au prof i t del ' E t a t ou d ~ t r u i t e s .

20


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Art ic le 66Quiconque, . scierrunent met en circula t ion ou garde aux f ins demettre en ci rculat ion des bi l l e t s ou pieces cont re fa i t s e s tpassible des peines d'emprisonnement de 10 ans a 20 ans.

Arti c le 67Quiconque, sans autor isa t ion de la Banque Centra le , u t i l i s eou garde des mater iels , des out i l s , des machines e t des produi tsqui servent d 'ordina i re a l ' impression des bi l l e t s de banque ou ala frappe des pieces est passible des peines ~ ' e m p r i s o n n e m e n t de 5ans a 10 ans. Les pieces a conviction sont confisquees au pro f i t del 'E ta t ou detrui tes .

Art ic le 68Quiconque remet en ci rculat ion , apres avoir appris qu ' i l ssont contrefai t s des bi l l e t s e t des pleces e s t passibled' uneamende egale a 100 fois Ie montant de 1 'operat ion en cause.

Art ic le 69Aux f i?s de l ' appl ica t ion de la presente lo i e t du bonexercice de ses at t r ibut ions conformement a la presente lo i , la

Banque Centrale e s t habi l i tee a demander les renseignernents donte l le a besoin a toute personne physi que ou morale concernee ycompris les etablissernents bancaires e t f inanciers e t les en t i tesqui leur sont af f i l i ees .Quiconque ne cOITmunique pas les renseignernents demandes parla Banque Centrale en vertu du present ar t i c l e ou communique

sciernrnent des ren.eignements faux ou fal lacieux commet uneinf rac t ion passible de peines d'amende de 1.000.000 , 00 I (unmill ion de r ie l s ) a 10.000.000.00 f (dix mill ions de r ie l s ) e t / c'Jd'ernprisonnement de 1 an a 5 ans.

Art ic le 70Quiconque, sans y avoir e te dGrnent autor i se par la BanqueCentrale, gerB un etablissernent bancaire e t f inancier ou se l iv rea des ac t iv i tes a caractere bancaire t e l l e s que cred i t , courtage endevises, change, reception de fonds du public , gestion de moyens depaiement, operat io;ls sur t i t r e s , co rnr:,erce de 1 ' or, de J.,Etaux

p r e c ~ e u x e t de pier res preci e uses, doi t cesser ses ac t i v i t es s u rsimple i n j o n c t i o ~ de la Banque Central.e . II es t passible , en outre ,dc,s peines d'amende de l.OOO . GCO,OC lc.:n mill ion de :r i

law on the organization and functioning of the national bank of cambodia [1996]

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