Commonwealth legislation

Inter-American Development Bank (Privileges and Immunities) Regulations 2003

In ForceCTH

Jurisdiction

Commonwealth

Act Number

230 of 2003

Collection

legislative instrument

Plain English Summary

2/10 complexity

These Regulations give the Inter‑American Development Bank (IDB) formal legal personality in Australia and set out its basic corporate powers: perpetual succession; entering contracts; acquiring, holding and disposing of property; and instituting legal proceedings (Regulation 4). They affect the IDB, parties that contract with or sue the Bank, and Australian courts and registries that deal with its affairs. Mechanically, the measure enables the Bank to act in its corporate name under Australian law and changes who can be a contracting party or litigant.

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Inter-American Development Bank (Privileges and Immunities) Regulations 2003

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Inter-American Development Bank (Privileges and Immunities) Regulations 2003

Statutory Rules 2003 No. 2301

I, PHILIP MICHAEL JEFFERY, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the International Organisations (Privileges and Immunities) Act 1963.

Dated 27 August 2003

P. M. JEFFERY

Governor-General

By His Excellency’s Command

ALEXANDER DOWNER

Minister for Foreign Affairs

1 Name of Regulations

These Regulations are the Inter-American Development Bank (Privileges and Immunities) Regulations 2003.

2 Commencement

These Regulations commence on gazettal.

3 Interpretation

In these Regulations:

Act means the International Organisations (Privileges and Immunities) Act 1963.

IDB means the Inter-American Development Bank established by the Agreement Establishing the Inter-American Development Bank on 30 December 1959.

4 IDB to have juridical personality and legal capacities

For subsection 12A (2) of the Act, the IDB:

(a) is a body corporate with perpetual succession; and

(b) is capable, in its corporate name:

(i) of entering into contracts; and

(ii) of acquiring, holding and disposing of real and personal property; and

(iii) of instituting legal proceedings.

Note

Note: 1. Notified in the Commonwealth of Australia Gazette on 3 September 2003.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Inter-American Development Bank (Privileges and Immunities) Regulations 2003

Inter-American Development Bank (Privileges and Immunities) Regulations 2003

Statutory Rules 2003 No. 2301

Dated 27 August 2003

P. M. JEFFERY

Governor-General

By His Excellency’s Command

ALEXANDER DOWNER

Minister for Foreign Affairs

1 Name of Regulations

These Regulations are the Inter-American Development Bank (Privileges and Immunities) Regulations 2003.

2 Commencement

These Regulations commence on gazettal.

3 Interpretation

In these Regulations:

Act means the International Organisations (Privileges and Immunities) Act 1963.

IDB means the Inter-American Development Bank established by the Agreement Establishing the Inter-American Development Bank on 30 December 1959.

4 IDB to have juridical personality and legal capacities

For subsection 12A (2) of the Act, the IDB:

(a) is a body corporate with perpetual succession; and

(b) is capable, in its corporate name:

(i) of entering into contracts; and

(ii) of acquiring, holding and disposing of real and personal property; and

(iii) of instituting legal proceedings.

Note

Note: 1. Notified in the Commonwealth of Australia Gazette on 3 September 2003.