Singapore legislation

Section 6

of Bretton Woods Agreements Act 1966

Section 6

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

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.

Read in full context — Bretton Woods Agreements Act 1966 →