The International Finance Corporation (Status, Immunities and Privileges) Act, 1958

THE SCHEDULE

[See section 3]

PROVISIONS OF THE AGREEMENT WHICH SHALL HAVE FORCE OF LAW

ARTICLE III

SECTION 1. Financing Operations

The Corporation may make investments of its funds in productive private enterprises in the

territories of its members. The existence of a government or other public interest in such an enterprise

shall not necessarily preclude the Corporation from making an investment therein.

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SECTION 5. Applicability of Certain Foreign Exchange Restrictions

Funds, received by or payable to the Corporation in respect of an investment of the Corporation

made in any member’s territories pursuant to Section 1 of this Article shall not be free, solely by

reason of any provision of this Agreement, from generally applicable foreign exchange restrictions,

regulations and controls in force in the territories of that member.

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ARTICLE VI

STATUS, IMMUNITIES AND PRIVILEGES

SECTION 1. Purposes of Article

To enable the Corporation to fulfill the functions with which it is entrusted, the status, immunities

and privileges set forth in this Article shall be accorded to the Corporation in the territories of

each member.

SECTION 2. Status of the Corporation

The Corporation shall possess full juridical personality and, in particular, the capacity:

(i) to contract;

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

(iii) to institute legal proceedings.

SECTION 3. Position of the Corporation with regard to Judicial Process

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 driving claims from members. The property

and assets of the Corporation shall, wheresoever located and by whomsoever held, be immune from

all forms of seizure, attachment or execution before the delivery of final judgment against

the Corporation.

SECTION 4. Immunity of Assets from Seizure

Property and assets of the Corporation, wherever located and by whomsoever held, shall be

immune from search, requisition, confiscation, expropriation or any other form of seizure by

executive or legislative action.

SECTION 5. Immunity of Archives

The archives of the Corporation shall be inviolable.

SECTION 6. Freedom of Assets from Restrictions

To the extent necessary to carry out the operations provided for in this Agreement and subject to

the provisions of Article III, Section 5, and the other provisions of this Agreement, all property and

assets of the Corporation shall be free from restrictions, regulations, controls and moratoria of any

nature.

SECTION 7. Privilege for Communications

The official communications of the Corporation shall be accorded by each member the same

treatment that it accords to the official communications of other members.

SECTION 8. Immunities and Privileges of Officers and Employees

All Governors, Directors, Alternates, officers and employees of the Corporation:

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

capacity;

(ii) not being local nationals, shall be accorded the same immunities from immigration

restrictions, alien registration requirements and national service obligations and the same

facilities as regards exchange restrictions as are accorded by members to the

representatives, officials, and employees of comparable rank of other members;

(iii) shall be granted the same treatment in respect of travelling facilities as is accorded by

members to representatives, officials and employees of comparable rank of other

members.

SECTION 9. Immunities from Taxation

(a) The Corporation, its assets, property, income and its operations and transactions authorised by

this Agreement, shall be immune from all taxation and from all customs duties. The Corporation shall

also be immune from liability for the collection or payment of any tax or duty.

(b) No tax shall be levied on or in respect of salaries and emoluments paid by the Corporation to

Directors, Alternates, officials or employees of the Corporation who are not local citizens, local

subjects, or other local nationals.

(c) No taxation of any kind shall be levied on any obligation or security issued by the Corporation

(including any dividend or interest thereon) by whomsoever held:

(i) which discriminates against such obligation or security solely because it is issued by the

Corporation; or

(ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is

issued, made payable or paid, or the location of any office or place of business maintained

by the Corporation.

(d) No taxation of any kind shall be levied on any obligation or security guaranteed by the

Corporation (including any dividend or interest thereon) by whomsoever held:

(i) which discriminates against such obligation or security solely because it is guaranteed by

the Corporation; or

(ii) if the sole jurisdictional basis for such taxation is the location of any office or place of

business maintained by the Corporation.

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SECTION 10. Waiver

The Corporation in its discretion may waive any of the privileges and immunities conferred under

this Article to such extent and upon such conditions as it may determine.