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Article 109

The promulgation of this Law and the establishment of the Agency shall have the following consequences:

A — The Bahrain Currency Board set up by virtue of Chapter One of the Bahrain Currency Decree, as amended, shall definitively cease to operate or engage in any other activity, provided however that the Minister of Finance may authorize the Bahrain Currency Board to continue to operate for such interim period, not exceeding six months, as is necessary or appropriate for the sole purpose of liquidating its operations.
B — Title to all assets and liabilities of the Bahrain Currency Board shall pass to the Agency, and in case assets exceed liabilities, the excess alone shall be posted to the Reserve Account of the Agency.
C — In the application of the provisions of this Law, currency notes and coins issued by the Bahrain Currency Board shall be deemed as issued by the Agency.