1The Exchange Equalisation Account
(1)There shall continue to be an account called the Exchange Equalisation Account (in this Act referred to as " the Account").
(2)The Account shall continue to be under the control of the Treasury.
(3)The Account is to be used—
(a)for checking undue fluctuations in the exchange value of sterling;
(b)for securing the conservation or disposition in the national interest of the means of making payments abroad;
(c)for the purpose specified in section 1(3) of the [1979 c. 29.] International Monetary Fund Act 1979 (payment of charges under section 8 of Article V of the Articles of Agreement of the International Monetary Fund); and
(d)for carrying out any of the functions of the Government of the United Kingdom under those of the said Articles of Agreement which relate to special drawing rights.