Bretton Woods Agreements Order - Singapore Statutes Online

Bretton Woods Agreements Act

(Chapter 27, Section 11)

Bretton Woods Agreements Order

O 1

REVISED EDITION 1990

(25th March 1992)

[22nd July 1966]

Citation

1. This Order may be cited as the Bretton Woods Agreements Order.

Definitions

2. In this Order —

“Bank” means the international body established by the Bank Agreement;

“Bank Agreement” means the Agreement for the establishment and operation of an international body known as the International Bank for Reconstruction and Development;

“Fund” means the international body established by the Fund Agreement;

“Fund Agreement” means the Agreement for the establishment and operation of an international body known as the International Monetary Fund.

Fund Agreement and the Bank Agreement to have force of law

3. To enable the Fund and the Bank to fulfil the functions with which they are respectively entrusted, the provisions of the Fund Agreement and the Bank Agreement set out in the Schedule shall have the force of law in Singapore:

Provided that nothing in section 9 of Article IX of the Fund Agreement or in section 9 of Article VII of the Bank Agreement shall be construed as —

(a)	entitling the Fund or the Bank to import into Singapore goods free of customs duty without any restriction on their subsequent sale in Singapore;
(b)	conferring on the Fund or the Bank any exemption from duties or taxes which form part of the price of goods sold; or
(c)	conferring on the Fund or the Bank any exemption from taxes or duties which are in fact no more than charges for services rendered.

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