Diplomatic Immunities and Privileges Act, 2001 (Act No. 37 of 2001)

Notices

Recognition of New Development Bank Africa Regional Centre for purposes of granting immunities and privileges

Article 6 : Immunity of property, funds and assets
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(1) The Bank and its property, funds and assets, wherever located and by whomsoever held, shall be immune from every form of legal process, except as provided for under the Agreement on the New Development Bank:
(a) to the extent that the Bank shall have expressly waived such immunity in any particular case in accordance with the provisions of Article 36 of the Articles of Agreement of the New Development Bank;
(b) in respect of a civil action in South Africa arising out of or in connection with its powers to raise funds, through borrowings or other means, to guarantee obligations, or to buy and sell or underwrite the sale of securities;
(c) in respect of a civil action brought by a third party for damages arising from an accident caused by a vehicle belonging to the Bank or operated on its behalf;
(d) in respect of the enforcement of an arbitration award made against the Bank as a result of an express submission to arbitration by or on behalf of the Bank; or
(e) in respect of any counter-claim directly connected with court proceedings initiated by the Bank.

 

(2) Notwithstanding anything contained herein above, the property of the Bank shall be immune from all forms of seizure, attachment or execution before the delivery of final judgment against the Bank.

 

(3) The property, funds and assets of the Bank wherever situated in South Africa and by whomsoever held, shall be immune from seizure, search, requisition, foreclosure, confiscation, expropriation and any other form of interference whether by executive, administrative, judicial or legislative action. To the extent necessary for the operation of the Africa Regional Centre in South Africa and subject to the provisions of this Agreement, all property and other assets of the Bank shall be exempt from restrictions, regulations, controls and moratoria of any nature.

 

(4) Notwithstanding the provisions of sub-Articles (1) and (2), no action shall be brought against the Bank by the Government, or by any of its agencies or instrumentalities or by any entity or person directly or indirectly acting for or deriving claims from the Government or from any of its agencies or instrumentalities.