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← Asian Development Bank Act 1966

Asian Development Bank Act 1966 s 4

s 4 Power to subscribe to shares of Bank

4. The Minister is hereby authorised to subscribe on behalf of the Government —(a) to shares of the original authorised capital stock of the Bank in accordance with paragraph 1 of Article 5 to such amount as will not exceed US$5 million; (b) where the original authorised capital stock of the Bank is increased in accordance with paragraph 2 of Article 5, to a proportion of the increase of stock as provided in that paragraph; and (c) where the shares of Singapore have been increased at the request of the Government in accordance with paragraph 3 of Article 5, to the amount of such increase: Provided that the subscription of Singapore shall not be increased, except with the approval signified by resolution of Parliament, so that its total subscription exceeds the sum of US$10 million.

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Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗

Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.

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