Clause 2

The Asian Development Bank Act is hereby amended by inserting immediately after section 9 thereof the following new section: —“Companies Act shall not apply to Bank and to the issue by the Bank of shares, debentures etc9A. The Bank shall be deemed not to be a corporation within the meaning of the Companies Act (Cap. 185); and the provisions of that Act shall not, accordingly, apply to the Bank or to the issue by the Bank of any shares, debentures, bonds, notes or other securities.”.