Section 3
Payments to Bank.
The Asian Development Bank Act, 1966
About this Act
An Act to implement the international agreement for the establishment and operation of the Asian Development Bank and for matters connected therewith.
(1) There shall be paid out of the Consolidated Fund of India, after due
appropriation made by Parliament by law in this behalf, all such sums as may, from time to time, be
required for the purpose of paying,--
(a) the subscriptions payable by the Central Government to the Bank under paragraphs 1, 2 and 3 of Article 5 of the Agreement;
(b) any commission, fees or other charges payable by the Central Government to the Bank under Article 16 of the Agreement;
(c) any sums payable by the Central Government to the Bank under paragraph 1 of Article 25 of the Agreement.
(2) The Central Government may, if it thinks fit so to do, create and issue to the Bank, in such form as it thinks fit, any such non-interest bearing and non-negotiable notes or other obligations as are provided for by paragraph 3 of Article 6 of the Agreement.
(a) the subscriptions payable by the Central Government to the Bank under paragraphs 1, 2 and 3 of Article 5 of the Agreement;
(b) any commission, fees or other charges payable by the Central Government to the Bank under Article 16 of the Agreement;
(c) any sums payable by the Central Government to the Bank under paragraph 1 of Article 25 of the Agreement.
(2) The Central Government may, if it thinks fit so to do, create and issue to the Bank, in such form as it thinks fit, any such non-interest bearing and non-negotiable notes or other obligations as are provided for by paragraph 3 of Article 6 of the Agreement.