Section 4. Immunity from other
action
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 seizure by executive or
legislative action.
Section 5. Immunity of
archives
The archives of the Fund shall be inviolable.
Section 6. Freedom of assets from
restrictions
To the extent necessary to carry out the activities provided for in
this Agreement, all property and assets of the Fund shall be free
from restrictions, regulations, controls, and moratoria of any
nature.
Section 7. Privilege for
communications
The official communications of the Fund shall be accorded by members
the same treatment as the official communications of other members.
Section 8. Immunities and privileges of
officers and employees
All Governors, Executive Directors, Alternates, members of
committees, representatives appointed under Article XII, Section
3(j), advisors of any of the foregoing persons, officers, and
employees of the Fund:
(i) | | shall be immune from legal process with respect to acts
performed by them in their official capacity except when the Fund
waives this immunity; |
(ii) | | not being local nationals, shall be granted 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; and |
(iii) | | shall be granted the same treatment in respect of traveling
facilities as is accorded by members to representatives, officials,
and employees of comparable rank of other members. |
Section 9. Immunities from
taxation
(a) The Fund, its assets, property, income, and its operations and
transactions authorized by this Agreement shall be immune from all
taxation and from all customs duties. The Fund 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 Fund to Executive Directors, Alternates,
officers, or employees of the Fund 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 Fund, including any dividend or interest
thereon, by whomsoever held:
(i) | | which discriminates against such obligation or security solely
because of its origin; 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 Fund. |
Section 10. Application of
Article
Each member shall take such action as is necessary in its own
territories for the purpose of making effective in terms of its own
law the principles set forth in this Article and shall inform the
Fund of the detailed action which it has taken.
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