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Asian Development Bank (Amendment) Bill

Bill No. 16/1976

Read the first time on 3rd September 1976.

An Act to amend the Asian Development Bank Act (Chapter 59 of the Revised Edition).

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

Short title and commencement

1. This Act may be cited as the Asian Development Bank (Amendment) Act, 1976, and shall be deemed to have come into operation on the 1st day of September 1976.

New section 9A

2. The Asian Development Bank Act is hereby amended by inserting immediately after section 9 thereof the following new section: —

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

9A. The Bank 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.”.