Clause 1
Short title and commencement
This Act may be cited as the International Monetary Fund Act, 1969, and shall come into operation on such date as the Minister may, by notification in the Gazette, appoint.
/akn/sg/act/bill/1969/14
International Monetary Fund Bill
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- Type
- Bill
- Status
- In force
- Enacted
- 1969
- Sections
- 2
Quick answer
About this bill
International Monetary Fund Bill is Singapore Bill, cited as Bill 14 1969, currently marked in force and first recorded in 1969.
Clause 2
Effect of participation in Special Drawing Account by the Government
(1)
If the Government becomes a participant in the said Special Drawing Account, subsections (2) and (3) of this section shall have effect.
(2)
Notwithstanding the provisions of any written law, the purposes for which the Consolidated Fund and the Currency Fund are to be used shall include the purpose of carrying out any of the functions of the Government under the amendments; and accordingly —
(a)
the Minister may cause any monies in the Consolidated Fund or the Currency Fund to be invested in the acquisition of special drawing rights in pursuance of the amendments; and
(b)
any special drawing rights received or disposed of by the Government in pursuance of the amendments shall, in the case of receipts be treated as assets of, and, in the case of disposals be transferred from, the Consolidated Fund or the Currency Fund as the case may be.
Definition
“the amendments” means the amendments of the Articles of Agreement of the International Monetary Fund relating to the Special Drawing Account and special drawing rights;
Definition
“Consolidated Fund” means the Consolidated Fund established by the Constitution of Singapore; and
Definition
“Currency Fund” means the Currency Fund established by the Currency Act, 1967 (Act 5 of 1967).
Common questions
- What is International Monetary Fund Bill?
- International Monetary Fund Bill is Singapore Bill, cited as Bill 14 1969, currently marked in force and first recorded in 1969.
- Is International Monetary Fund Bill still in force?
- Yes — International Monetary Fund Bill is currently in force.
- When did International Monetary Fund Bill take effect?
- International Monetary Fund Bill was first recorded in 1969.
- How many clauses does International Monetary Fund Bill have?
- International Monetary Fund Bill contains 2 clauses.
- Where can I read the official version of International Monetary Fund Bill?
- The official text of International Monetary Fund Bill is published at sso.agc.gov.sg.