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Bretton Woods Agreements (Amendment) Bill

Bill No. 12/1981

Read the first time on 15th June 1981.

An Act to amend the Bretton Woods Agreements Act (Chapter 61 of the Revised Edition).

Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows: —

Short title

1. This Act may be cited as the Bretton Woods Agreements (Amendment) Act, 1981.

New section 11

2. The Bretton Woods Agreements Act is amended by inserting, immediately after section 10, the following section: —

“Companies Act not to apply to Bank and to the issue by the Bank of shares, debentures, etc.

11. The International Bank for Reconstruction and Development shall be deemed not to be a corporation within the meaning of the Companies Act (Cap. 185); and the provisions of that Act shall not, accordingly, apply to the Bank or to the issue by the Bank of any shares, debentures, bonds, notes or other securities.”.