Commonwealth legislation

Tuvalu Trust Fund (Privileges and Immunities) Regulations

In ForceCTH

Jurisdiction

Commonwealth

Act Number

241 of 1987

Collection

legislative instrument

Plain English Summary

3/10 complexity

These Regulations place the Tuvalu Trust Fund under the International Organizations (Privileges and Immunities) Act 1963, giving the Fund corporate legal personality, capacity to contract and to hold property, and the privileges and immunities specified in the Act. The Australian Government (through the Administrator) decides this coverage; the Fund receives a limited exemption from direct taxation and its legal and tax interactions with Australian authorities and private counterparties are changed as a result.

JSON API

Deep dive

Want the full deep dive?

Zoe can write the in-depth analysis on top of the summary above: how it works, who it affects and what each part actually does.

Current sections

Direct links to the current provisions in Tuvalu Trust Fund (Privileges and Immunities) Regulations.

Tuvalu Trust Fund (Privileges and Immunities) Regulations

Commonwealth Coat of Arms of Australia

Statutory Rules 1987 No. 2411

Tuvalu Trust Fund (Privileges and

Immunities) Regulations

I, THE ADMINSTRATOR of the Government of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the International Organizations (Privileges and Immunities) Act 1963.

Dated 16 October 1987.

J. A. ROWLAND

Administrator

By His Excellency's Command,

Bill Hayden

Minister of State for Foreign Affairs and Trade

Citation

These Regulations may be cited as the Tuvalu Trust Fund (Privileges and Immunities) Regulations.

Commencement

These Regulations shall be deemed to have come into operation on 1 July 1987.

Interpretation

In these Regulations, unless the contrary intention appears:

“Fund” means the Tuvalu Trust Fund;

“the Act” means the International Organizations (Privileges and Immunities) Act 1963.

(SR. 224/87)—Cat. No. 15/25.8.1987

Act to apply to the Fund

The Fund is declared to be an international organization to which the Act applies.

Fund to have juridical personality and legal capacities

The Fund:

(a) is a body corporate with perpetual succession;

(b) has the capacity to contract; and

(c) is capable, in its corporate name, of acquiring, holding and disposing of real and personal property and of instituting legal proceedings.

Privileges and immunities of the Fund

(1) Subject to subregulation (2), the Fund has the privileges and immunities specified in paragraphs 5 and 7 of the First Schedule to the Act.

(2) The exemption from taxation conferred by subregulation (1) is an exemption from direct taxation only and is not an exemption of the Fund from the liability to collect taxes nor an exemption of the transactions of the Fund from taxes.

NOTE

1. Notified in the Commonwealth of Australia Gazette on 23 October 1987.

Printed by Authority by the Commonwealth Government Printer

Source text

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

1 Tuvalu Trust Fund (Privileges and Immunities) Regulations