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← Asian Infrastructure Investment Bank Act 2015

Asian Infrastructure Investment Bank Act 2015 s 4

s 4 Power to subscribe to shares of Bank

4.—(1) Subject to subsection (2), the Minister may, on behalf of the Government —(a) subscribe to shares of the original authorised capital stock of the Bank in accordance with paragraph 1 of Article 5 to an amount not exceeding US$250 million; (b) where the shares of Singapore have been increased at the request of the Government under paragraph 3 of Article 5 — subscribe to the amount of such increase; and (c) where the original authorised capital stock of the Bank is increased under paragraph 4 of Article 5 — subscribe to a proportion of the increase of stock as provided in that paragraph. (2) The total subscription to the Bank may not exceed the sum of US$500 million unless increased with the approval of Parliament signified by resolution.

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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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