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

Schedules

Schedule 4

Convention on the Privileges and Immunities of the Specialized Agencies, 1947

Annexes

Annex XIII : International Finance Corporation
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In its application to the International Finance Corporation (hereinafter called ‘the Corporation’) the Convention (including this annex) shall operate subject to the following provisions:

 

(1)The following shall be substituted for section 4:

‘Actions may be brought against the Corporation only in a court of competent jurisdiction in the territories of a member in which the Corporation has an office, has appointed an agent for the purpose of accepting service or notice of process, or has issued or guaranteed securities. No actions shall, however, be brought by members or persons acting for or deriving claims from members. The property and assets of the Corporation shall, where so ever located and by whomsoever held, be immune from all forms of seizure, attachment or execution before the delivery of final judgement against the Corporation.’

 

(2)Paragraph (b) of section 7 of the standard clauses shall apply to the Corporation subject to Article III, section 5 of the Articles of Agreement of the Corporation.

 

(3)The Corporation in its discretion may waive any of the privileges and immunities conferred under Articles VI of its Articles of Agreement to such extent and upon such conditions as it may determine.

 

(4)Section 32 of the standard clauses shall only apply to differences arising out of the interpretation or application of privileges and immunities which are derived by the Corporation from this Convention and are not included in those which it can claim under its Articles of Agreement or otherwise.

 

(5)The provisions of the Convention (including this annex) do not modify or amend or require the modification or amendment of the Articles of Agreement of the Corporation or impair or limit any of the rights, immunities, privileges or exemptions conferred upon the Corporation or any of its members, Governors, Executive Directors, Alternates, officers and employees by the Articles of Agreement of the Corporation, or by any statute, law or regulation of any member of the Corporation or any political subdivision of any such member, or otherwise.