Section 55: Functions of Committee

55. Functions of Committee (1) The functions of the Committee shall be to formulate and determine the monetary policy to be conducted by the Bank in order to implement section 5 (2) and to maintain price stability, taking into account the orderly and balanced economic development of Mauritius. (1A) With a view to improving the coordination of monetary and fiscal policy, the Committee shall, in the discharge of its functions, take into account the views of the Bank, the Ministry and such other institution or organisation as it considers appropriate. (2) (a) The Bank shall, after every meeting of the Committee, publish in such manner as it may determine— (i) as soon as practicable, the gist of the monetary policy to be conducted by the Bank; and [Issue 7] B2 – 28 (6) Revised Laws of Mauritius (ii) the minutes of the meeting, not later than 2 weeks after the date of the meeting. (b) The minutes published under paragraph (a) (ii) shall record, in relation to any decision of the Committee, the voting preference of the members who took part in the vote on the decision. (3) In the discharge of its functions, the Committee shall not be subject to the direction or control of any other person or authority. [S. 55 repealed and replaced by s. 3 (d) of Act 17 of 2007 w.e.f. 22 August 2007; amended by s. 3 (f) of Act 38 of 2011 w.e.f. 15 December 2011; s. 2 (g) of Act 27 of 2012 w.e.f. 22 December 2012.] PART IXA – FINANCIAL STABILITY COMMITTEE [Part IXA inserted by s. 4 (c) of Act 14 of 2009 w.e.f. 30 July 2009.]