Bretton Woods Agreements (Amendment) Bill

Bill No. 16/2023

Read the first time on 8 May 2023.

An Act to amend the Bretton Woods Agreements Act 1966.

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 is the Bretton Woods Agreements (Amendment) Act 2023 and comes into operation on a date that the Minister appoints by notification in the Gazette.

Amendment of section 5

2. In the Bretton Woods Agreements Act 1966, in section 5(2), replace “buy or sell” with “buy, sell or otherwise deal with”.

Amendment of section 6A

3. In the Bretton Woods Agreements Act 1966, in section 6A —

(a)

after subsection (3), insert —

“(3A) Subsections (2) and (3) do not apply to an agreement to finance the operations and the carrying out of the functions of an office of the Fund in Singapore.”; and

(b)

after subsection (4), insert —

“(5) Subsection (4) does not apply if —

(a)	the agreement is in a standard form provided by the Fund, which cannot be unilaterally amended by the Monetary Authority of Singapore; or
(b)	the Fund arrangement or Fund program cannot be suspended or prematurely terminated.”.

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