Asian Infrastructure Investment Bank Act 2015
Jurisdiction | Singapore |
Coming into Force | 22 August 2015 |
Act Number | (Original Enactment: Act 24 of 2015) |
Record Number | Cap. 15A |
Asian Infrastructure Investment Bank Act |
(CHAPTER 15A) |
(Original Enactment: Act 24 of 2015)
REVISED EDITION 2017 |
(30 November 2017) |
An Act to implement the International Agreement for the establishment and operation of the Asian Infrastructure Investment Bank, to enable Singapore to become a member of the Bank and for connected purposes.
|
[22 August 2015] |
Short title |
1. This Act is the Asian Infrastructure Investment Bank Act. |
Interpretation |
2. In this Act, unless the context otherwise requires —
|
Deposit of instrument of ratification |
3. The President may empower a person named in an instrument under the President’s hand to deposit, on behalf of the Government of Singapore, an instrument of ratification of the Agreement with the Government of the People’s Republic of China stating that the Government of Singapore —
|
Power to subscribe to shares of Bank |
4.—(1) Subject to subsection (2), the Minister may, on behalf of the Government —
|
Sums payable to Bank to be charged on Consolidated Fund |
5.—(1) The following sums are to be charged on the Consolidated Fund:
|
Moneys received by Government to be paid into Consolidated Fund |
6. All sums received by or on behalf of the Government from the Bank are to be paid into the Consolidated Fund. |
Certain provisions of Agreement to have force of law |
7.—(1) Despite anything to the contrary in any other law, the provisions of the Agreement set out in the Schedule have the force of law.
|
Companies Act does not apply to Bank and to issue by Bank of shares, debentures, etc. |
8. The Bank is not to be treated as a corporation within the meaning of the Companies Act (Cap. 50), and the provisions of that Act do not accordingly apply to the Bank or to the issue by the Bank of any shares, debentures, bonds, notes or other securities. |
Power to make regulations |
9.—(1) The Minister may make regulations for the purpose of carrying out the provisions of this Act.
|
Section 7(1) and (3) |
Provisions of the Agreement having the force of law |
|
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