5Privileges and Immunities of Specialized Agencies

5 Privileges and Immunities of Specialized Agencies

(1) Subject to subregulations (3), (4) and (5), each of the following Specialized Agencies, namely: (a) the International Monetary Fund; (b) the International Bank for Reconstruction and Development; (c) the International Finance Corporation; (d) the International Development Association, has the privileges and immunities specified in the items, other than item 8, in the First Schedule to the Act. (2) Subject to subregulations (3), (4) and (5), a Specialized Agency, not being a Specialized Agency specified in subregulation (1), has the privileges and immunities specified in paragraphs 1, 2, 3, 4, 5, 6, 7, 9, 10, 11 and 12 of the First Schedule to the Act. (3) A Specialized Agency is not, by virtue of subregulation (1) or (2), as the case requires, exempt from such national, regional or municipal dues and taxes in respect of the premises of the Specialized Agency, whether owned or leased, as represent payment for specific services rendered. (4) Where goods (not being publications of the Specialized Agency) are imported, manufactured or purchased by a Specialized Agency for sale by it, subregulation (1) or (2), as the case requires, does not operate to prevent sales tax being payable in relation to the goods by the Specialized Agency or by any other person. (5) A Specialized Agency’s privileges in relation to indirect tax are limited to: (a) the exemption conferred by section 11B of the Act; and (b) concessions under section 11C of the Act in relation to acquisitions mentioned in subregulation 9A(1).