The African Development Fund Act, 1982

THE SCHEDULE

(See section 5)

PROVISIONS OF THE AGREEMENT WHICH SHALL HAVE FORCE OF LAW

CHAPTER VIII

STATUS, IMMUNITIES, EXEMPTIONSAND PRIVILEGES

ARTICLE 41

PURPOSE OF CHAPTER

To enable the Fund effectively to fulfil its purpose and carry out the functions entrusted to it, the

status, immunities, exemptions and privileges set forth in this Chapter shall be accorded to the Fund in the

territory of each State participant, and each State participant shall inform the Fund of the specific action

which it has taken for such purpose.

ARTICLE 42

STATUS

The Fund shall possess full judicial personality and, in particular, full capacity:

(i) to contract;

(ii) to acquire, and dispose of, immovable and movable property; and

(iii) to institute legal proceedings.

ARTICLE 43

LEGAL PROCESS

1. The Fund shall enjoy immunity from every form of legal process, except in cases arising out of or

in connection with the exercise of its power to receive loans in accordance with Article 8, in which case

actions may be brought against the Fund in a court of competent jurisdiction in the territory of a country

in which the Fund has its office, or has appointed an agent for the purpose of accepting service or notice

of process, or has otherwise agreed to be sued.

2. Notwithstanding the provisions of paragraph 1, no action shall be brought against the Fund by any

participant, or by any agency or instrumentality of a participant, or by any entity or person directly or

indirectly acting for or deriving claims from a participant or from any agency or instrumentality of a

participant. Participants shall have recourse to such special procedures for the settlement of disputes

between the Fund and its participants as may be prescribed in this Agreement, in the bye-laws and

regulations of the Fund, or in contracts entered into with the Fund.

3. The Fund shall also make provision for appropriate modes of settlement of disputes in cases which

do not come within the provisions of paragraph 2 and of Articles 52 and 53 and which are subject to the

immunity of the Fund by virtue of paragraph 1 of this Article.

4. Where by virtue of any of the provisions of this Agreement the Fund does not enjoy immunity

from legal process, the Fund, and its property and assets wherever located and by whomsoever held, shall

nevertheless be immune from all forms of seizure, attachment or execution before the delivery of final

judgment against the Fund.

ARTICLE 44

IMMUNITY OF ASSETS

Property and assets of the Fund, wherever located and by whomsoever held, shall be immune from

search, requisition, confiscation, expropriation or any other form of taking or foreclosure by executive or

legislative action.

ARTICLE 45

IMMUNITY OF ARCHIVES

The archives of the Fund, and, in general, all documents belonging to it or held by it, shall be

inviolable, wherever located.

ARTICLE 46

FREEDOM OF ASSETS FROM RESTRICTION

To the extent necessary to carry out the purpose and function of the Fund, and subject to the

provisions of this Agreement, all property and other assets of the Fund shall be free from restriction by

financial controls, regulations, or moratoria of any kind.

ARTICLE 47

PRIVILEGE FOR COMMUNICATIONS

Official communications of the Fund shall be accorded by each State participant the same treatment

as it accords to the official communications of other international financial institutions of which it is a

member.

ARTICLE 48

IMMUNITIES AND PRIVILEGES OF OFFICIALS AND PERSONNEL

All governors and directors, and their alternates, the President and personnel, including experts

performing missions for the Fund:

(i) shall be immune from legal process with respect to acts performed by them in their official

capacity;

(ii) when they are not local nationals, shall be accorded no less favourable immunities from

immigration restrictions, alien registration requirements and national service obligations, and no less

favourable facilities as regards exchange regulations, than are accorded by the State participant

concerned to the representatives, officials and employees of comparable rank of any other

international financial institution of which it is a member; and

(iii) shall be granted no less favourable treatment in respect of travelling facilities than is

accorded by the State participant concerned to representatives, officials and employees of comparable

rank of any other international financial institution of which it is a member.

ARTICLE 49

EXEMPTION FROM TAXATION

1. The Fund, its assets, property, income, operations and transactions, shall be exempt from all direct

taxation, and from all customs duties, or taxes having equivalent effect, on goods imported or exported

for its official use. The Fund shall also be exempt from any obligation for the payment, withholding or

collection of any tax or duty.

2. Notwithstanding the provisions of paragraph 1, the Fund shall not claim exemption from taxes

which are no more than charges for services rendered.

3. Articles imported under an exemption provided for by paragraph 1 shall not be sold in the territory

of the State participant which granted the exemption except under conditions agreed with that participant.

4. No tax shall be levied on or in respect of salaries and emoluments paid by the Fund to the President

and personnel including experts performing missions for it.

ARTICLE 50

WAIVER BY THE FUND

1. The immunities, exemptions and privileges provided in this Chapter are granted in the interests of

the Fund. The Board of Directors may waive, to such extent and upon such conditions as it may

determine, the immunities, exemptions and privileges provided in this Chapter in cases where its action

would in its opinion further the interests of the Fund.

2. Regardless of the provisions of paragraph 1, the President shall have the right and the duty to waive

the immunity of any of the personnel, including experts performing missions for the Fund, in cases where,

in his opinion, the immunity would impede the course of justice and can be waived without prejudice to

the interests of the Fund.