Section 11

If any dispute between the Bank on the one part and the Government or a statutory authority or both on the other part arises under any agreement concluded or guarantee or undertaking given in exercise of the powers conferred by this Act or under any bond, promissory note or other instrument issued pursuant to any such agreement it shall be determined by arbitration in the manner agreed between the parties, and any award made in the arbitration shall be enforceable in Singapore in all respects as if it had been validly made in an arbitration under the provisions of the Arbitration Act 2001 or any other written law relating to arbitration for the time being in force in Singapore, and for the purposes of this section the provisions of that Act or law shall be binding on the Government.