Singapore legislation
Clause 5
Clause 5
Sums payable to the Bank to be charged on the Consolidated Fund
(1)
There shall be charged on the Consolidated Fund —
all sums payable to the Bank by way of subscription to its paid-in capital stock as provided in paragraph 1 of Article 6;
all sums payable to the Bank by way of subscription to its callable capital stock as and when required by the Bank, as provided in paragraph 5 of Article 6;
all sums payable to the Bank by way of increase of the shares of the Bank’s capital stock subscribed by the Government in accordance with paragraphs 2 and 3 of Article 5;
all sums payable to the Bank under any other provisions of the Agreement; and
all sums required for the redemption of any notes or obligations created and issued to the Bank under section 7 of this Act.
(2)
All sums charged on the Consolidated Fund under this section may be paid in gold or United States dollars or in local currency.