Section 43
SEC. 43. Section seventy-nine of the same Act is hereby amended to read as follows: "SEC. 79. Rates applicable to purchases and sales of exchange by the banks. — The Monetary Board shall determine the minimum and maximum rates at which the banks may buy spot exchange, and the maximum and minimum rates at which they may sell spot exchange, and shall establish deviation limits from the effective exchange rate or rates as it may deem proper. The banks shall not collect any additional commissions or charges other than actual telegraphic or cable costs incurred by them. "The rates to be used by the banks for other types of exchange transactions shall be based on their spot exchange rates and shall not differ from such rates by margins greater than those considered reasonable by the Monetary Board: Provided, however, That the Board may at any time specifically fix such margins. The Monetary Board shall issue such rules and regulations as may be necessary to implement the provisions of this paragraph." "The rates established in accordance with the provisions of this section shall not apply to exchange transactions with the Central Bank. Such transactions shall be made at the rates established in accordance with the provisions of Section 76 of this Act."