SECTION 388

The CFA Franc shall, within the meaning of this Uniform act, be the base currency. States Parties whose monetary unit is not the CFA, the equivalent in national currency initially shall be the one determined by the application of the parity in force between the CFA Franc and the national currency for those States Parties on the day of the adoption of this Uniform Act. Such conversion value shall be rounded to the next higher unit where the conversion shows a decimal number. The Council of Ministers of the States Parties to the Treaty on the Harmonization of Business Law in Africa, at the proposal of the Finance Ministers of the States parties, shall, as and when required, examine and, where necessary, revise the amounts stated in this Uniform Act expressed in CFA Francs, in light of the economic and monetary developments in States Parties. The conversion value in national currency shall, where appropriate, be determined by the application of the parity in force between the CFA Franc and the national currency of those States Parties on the day of the adoption of the revised amounts in this Uniform Act.