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← Bretton Woods Agreements Act 1966

Bretton Woods Agreements Act 1966 s 6

s 6 Power of Monetary Authority of Singapore in relation to operations of General Resources Account of Fund

6. The Monetary Authority of Singapore is hereby authorised —(a) to take steps to ensure that the balances of the currency of Singapore purchased from the Fund by a member of the Fund can be exchanged at the time of purchase, by that member, for a freely usable currency selected by Singapore, in accordance with section 3 of Article V of the Fund Agreement; (b) to take steps to ensure that any member of the Fund repurchasing its own currency from the Fund can obtain the currency of Singapore (if the currency of Singapore is specified by the Fund for repurchase) at the time of repurchase in exchange for a freely usable currency selected by Singapore in accordance with section 7 of Article V of the Fund Agreement; (c) to make payment of any charges payable to the Fund under section 8 of Article V of the Fund Agreement or any other sums payable to the Fund; and (d) to receive any remuneration payable by the Fund under section 9 of Article V of the Fund Agreement or any other sums payable by the Fund.

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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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