S.I. No. 235/1982 - Common Fund For Commodities (Designation of Organisation) Order, 1982.

S.I. No. 235 of 1982.

COMMON FUND FOR COMMODITIES (DESIGNATION OF ORGANISATION) ORDER, 1982.

WHEREAS it is enacted by section 40 (1) of the Diplomatic Relations and Immunities Act, 1967 (No. 8 of 1967), that the Government may by order designate an international organisation of which the State or the Government is or intends to become a member to be an organisation to which Part VIII of that Act applies:

AND WHEREAS the Common Fund for Commodities is an organisation such as aforesaid:

NOW, the Government, in exercise of the powers conferred on them by section 40 of the said Diplomatic Relations and Immunities Act, 1967 , hereby order as follows:

1. This Order may be cited as the Common Fund for Commodities (Designation of Organisation) Order, 1982.

2. The Common Fund for Commodities is hereby designated as an organisation to which Part VIII of the Diplomatic Relations and Immunities Act, 1967 (No. 8 of 1967), applies.

3. Chapter X (the terms of which are set out in the Schedule to this Order) of the Agreement establishing the Common Fund for Commodities done at Geneva on the 27th day of June, 1980, shall apply for the purposes of section 42 of the Diplomatic Relations and Immunities Act, 1967 .

SCHEDULE

Chapter X.

of

the Agreement establishing the Common Fund for Commodities done at Geneva on the 27th day of June, 1980

Article 40

Purposes

To enable the Fund to fulfil the functions with which it is entrusted, the status, privileges and immunities set forth in this chapter shall be accorded to the Fund in the territory of each Member.

Article 41

Legal status of the Fund

The Fund shall possess full juridical personality, and, in particular, the capacity to conclude international agreements with States and international agreements with States and international organisations, to enter into contracts, to acquire and dispose of immovable and movable property, and to institute legal proceedings.

Article 42

Immunity from juridical proceedings

1. The Fund shall enjoy immunity from every form of legal process, except for actions which may be brought against the Fund:

( a ) by lenders of funds borrowed by the Fund with respect to such funds;

( b ) by buyers or holders of securities issued by the Fund with respect to such securities; and

( c ) by assignees and successors in interest thereof with respect to the aforementioned transactions.

Such actions may be brought only before courts of competent jurisdiction in places in which the Fund has agreed in writing with the other party to be subject. However, if no provision is made as to the forum, or if an agreement as to the jurisdiction of such courts is not effective for reasons other than the fault of the party bringing legal action against the Fund, then such action may be brought before a competent court in the place in which the Fund has its headquarters or has appointed an agent for the purpose of accepting service or notice of process.

2. No action shall be brought against the Fund by Members, Associated ICOs, ICBs, or their participants, or persons acting for or deriving claims from them, except in cases as in paragraph 1 of this article. Nevertheless, Associated ICOs, ICBs, or their participants shall have recourse to such special procedures to settle controversies between themselves and the Fund as may be prescribed in agreements with the Fund, and, in the case of Members, in this Agreement and in any rules and regulations adopted by the Fund.

3. Notwithstanding the provisions of paragraph 1 of this article, property and assets of the Fund, wherever located and by whomsoever held, shall be immune from search, any form of taking, foreclosure, seizure, all forms of attachment, injunction, or other judicial process impeding disbursement of funds or covering or impeding disposition of any commodity stocks or Stock Warrants, and any other interlocutory measures before the delivery of a final judgement against the Fund by a court having jurisdiction in accordance with paragraph 1 of this article. The Fund may agree with its creditors to limit the property or assets of the Fund which may be subject to execution in satisfaction of a final judgement.

Article 43

Immunity of assets from other actions

The property and assets of the Fund, wherever located and by whomsoever held, shall be immune from search, requisition, taking whether by executive or legislative action.

Article 44

Immunity of archives

The archives of the Fund, wherever located, shall be inviolable.

Article 45

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 this Agreement, all property and assets of the Fund shall be free from restrictions, regulations, controls, and moratoria of any nature.

Article 46

Privilege for communications

As far as may be compatible with any international convention on telecommunications in force and concluded under the auspices of the International Telecommunication Union to which a Member is a party, the official communications of the Fund shall be accorded by each Member the same treatment that is accorded to the official communications of other Members.

Article 47

Immunities and privileges of specified individuals

All Governors, Executive Directors, their alternates, the Managing Director, members of the Consultative Committee, experts performing missions for the Fund, and the staff, other than persons in domestic service of the Fund:

( a ) Shall be immune from legal process with respect to acts performed by them in their official capacity except when the Fund waives such immunity;

( b ) When they are not nationals of the Member concerned, shall be accorded, as well as their families forming part of their household, 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 such Member to the representatives, officials and employees of comparable rank of other international financial institutions of which it is a member;

( c ) Shall be granted the same treatment in respect of travelling facilities as is accorded by each Member to representatives, officials and employees of comparable rank of other international financial institutions of which it is a member.

Article 48

Immunities from taxation

1. Within the scope of its official activities, the Fund, its assets, property, income and its operations and transactions authorised by this Agreement shall be exempt from all direct taxation and from all customs duties on goods imported or exported for its official use, provided that this shall not prevent any Member from imposing its normal taxes and customs duties on commodities which originate from the territory of such Member and which are forfeited to the Fund through any circumstance. The Fund shall not claim exemption from taxes which are no more than charges for services rendered.

2. When purchases of goods or services of substantial value necessary for the official activities of the Fund are made by or on behalf of the Fund, and when the price of such purchases includes taxes or duties, appropriate measures shall, to the extent possible and subject to the law of the Member concerned, be taken by such Member to grant exemption from such taxes or duties or provide for their reimbursement. Goods imported or purchased under an exemption provided for in this article shall not be sold or otherwise disposed of in the territory of the Member which granted the exemption, except under conditions agreed with that Member.

3. No tax shall be levied by Members on or in respect of salaries and emoluments paid or any other form of payment made by the Fund to Governors, Executive Directors, their alternates, members of the Consultative Committee, the Managing Director and staff, as well as experts performing missions for the Fund, who are not their citizens, nationals or subjects.

4. No taxation of any kind shall be levied on any obligation or security issued or guaranteed by the Fund, including any dividend or interest thereon, by whomsoever held:

( a ) which discriminates against such obligation or security solely because it is issued or guaranteed by the Fund; or

( b ) 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.

Article 49

Waiver of immunities, exemptions and privileges

1. The immunities, exemptions and privileges provided in this chapter are granted in the interests of the Fund. The Fund 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 not prejudice the interests of the Fund.

2. The Managing Director shall have the power, as may be delegated to him by the Governing Council, and the duty to waive the immunity of any of the staff, and experts performing missions for the Fund, in cases where the immunity would impede the course of justice and can be waived without prejudice to the interests of the Fund.

Article 50

Application of this chapter

Each Member shall take such action as is necessary for the purpose of making effective in its territory the principles and obligations set forth in this chapter.

GIVEN under the Official Seal of the Government, this 23rd day of

July, 1982.

CHARLES J. HAUGHEY,

Taoiseach

EXPLANATORY NOTE.

The effect of this Order is to accord to the Common Fund for Commodities the privileges and immunities set out in the Agreement establishing the Common Fund for Commodities 1980, for the purposes of Section 42 of the Diplomatic Relations and Immunities Act, 1967 .