Section 5: Appointment of Authorised Dealers.

(1) Notwithstanding anything to the contrary contained in any other enactment whatsoever, including-
(a)
the Exchange Control Act;
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(b)
the Banking Act;
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(c)
the Exchange Control (Anti-Sabotage) Act;
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(d)
Foreign Currency (Domiciliary Accounts) Act;
the Minister may, for the purpose of this Act, appoint any bank or non-banking corporate organisation as an Authorised Dealer of foreign currency; which authorisation shall be liberally granted to organisations that show evidence of adequate resources and capacity to operate in accordance with the provisions of this Act.
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(2) An Authorised Dealer appointed under subsection (1) of this section shall operate in the Market subject to such terms and conditions as the Minister may specify in the letter of appointment.