Decree No. 99-334 of May 5, 1999 on the Organization of Banknote Destruction Centers

DECREE NO. 99-334 OF MAY 5, 1999 On the Organization of Banknote Destruction Centers (Official Journal No. 2583 of July 5, 1999, p. 1454)

Article 1 - Banknote destruction centers for out-of-use or withdrawn banknotes are established by decision of the Central Bank's Board of Directors.

Art. 2 - The operating procedures, supervision, and control of banknote destruction operations are under the exclusive responsibility of the Central Bank. The Governor appoints, at each Center level, destruction managers among the Central Bank's staff. Before assuming office, they shall take an oath to perform their duties faithfully and conscientiously before the court of first instance in their jurisdiction.

Art. 3 - Following each destruction session, a record indicating the quantity by type of banknotes destroyed and their total value is drawn up and signed by the managers responsible for the destruction operation. A copy of the record is sent to the Central Bank's Government, and the original is filed at the destruction center in a dedicated register.

Art. 4 - Before being transported to a destruction center, out-of-use or withdrawn banknotes shall undergo a perforation process carried out by two representatives of the Central Bank at each agency. The perforated banknotes are subject to verification, either individually or by sampling, prior to destruction.

Art. 5 - As necessary, instructions signed by the Governor shall establish the implementation procedures of this decree.

Art. 6 - The provisions of Decree No. 71-537 of November 30, 1971 are hereby repealed.

Art. 7 - The Minister in charge of Finance and Economy and the Governor of the Central Bank are each responsible, within their respective areas, for executing this decree, which shall be published in the Official Journal.