Convention of the State Cashier

Official Gazette - Special Issue - January 20, 2013 423 CONVENTION OF THE STATE CASHIER CONVENTION OF THE CASHIER OF THE DEMOCRATIC REPUBLIC OF CONGO

BETWEEN: The Democratic Republic of Congo, represented by the Minister responsible for Finance, hereinafter referred to as "the State", on the one hand; and the Central Bank of Congo, a public law institution with its registered office in Kinshasa, Boulevard Colonel Tshatshi, Commune of la Gombe, represented by its Governor, hereinafter referred to as "the Bank", on the other hand:

Considering the obligation for the State to master at all times the management of the financial resources of the Republic, through the single Treasury account;

Considering that this constraint necessitates the automatic processing of data on the basis of which operations are recorded in this single Treasury account;

Considering finally, the need to guarantee results that are both durable, efficient, and reliable in the execution of this Convention, by establishing constant synergistic links between the State and the Bank;

It is agreed as follows:

CHAPTER 1: GENERALITIES

Article 1: In accordance with Article 55 of Law No. 005/2002 of May 7, 2002, relating to the constitution, organization, and functioning of the Central Bank of Congo, the Bank fulfills the function of State Cashier. To this end, the Bank keeps in its books a single current account in favor of the Treasury, called the "General Treasury Account". The single General Account centralizes all operations recorded as debits and credits in the operation sub-accounts opened in favor of different administrative entities of the State. These operation sub-accounts constitute a division of the General Treasury Account.

Article 2: In the execution of its mandate, the Bank must notably:

• Register treasury resources and payments, for the production in real time of information allowing monitoring by the Ministry of Finance.
• Receive and make payments, in all forms, on behalf of the State, both abroad and on national territory;
• Hold on behalf of the State, all checks, bills of exchange, securities, and other values;
• Issue borrowing titles on behalf of the State, subject to the prior agreement of the Minister of Finance.

Article 3: The Bank may, in localities where it is not represented and where the State has decided to ensure the sources of Cashier, designate under its responsibility, a credit institution, for the exercise of these functions. This designation is made on