Section 4
Power to issue instrument including bonds
of Loans (Islamic Development Bank) Act 1977
ActIn forceProvision 4 of 6
Section 4
(1)
Notwithstanding anything contained in any law, the
Government may issue such bonds, promissory notes or other instruments on such terms and conditions as may be necessary for the purpose of giving effect to the terms of any agreement which may be entered into by it with the Bank in respect of any borrowing authorized by subsection 3(1).
(2)
Any such bond, promissory note or other instrument may be signed on behalf of the Government by the Minister or by any other person authorized thereto in writing by the Minister.
Arbitration