HOST COUNTRY AGREEMENT BETWEEN THE BANK FOR INTERNATIONAL SETTLE- MENTS AND THE GOVERNMENT OF THE PEOPLE'S REPUBLIC OF CHINA RELATING TO THE ESTABLISHMENT AND STATUS OF A REPRESENTATIVE OFFICE OF THE BANK FOR INTERNATIONAL SETTLEMENTS
HOST COUNTRY AGREEMENT BETWEEN THE BANK FOR INTERNATIONAL SETTLE- MENTS AND THE GOVERNMENT OF THE PEOPLE'S REPUBLIC OF CHINA RELATING TO THE ESTABLISHMENT AND STATUS OF A REPRESENTATIVE OFFICE OF THE BANK FOR INTERNATIONAL SETTLEMENTS
IN THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA
Whole document
The Bank for International Settlements (hereinafter referred to as
"the Bank") and the Government of the People's Republic of China
(hereinafter referred to as "the Government");
Having regard to the Convention of 20th January 1930 respecting the
Bank, the Constituent Charter and Statutes of the Bank, and the Protocol
of 30th July 1936 regarding the immunities of the Bank;
Taking into account that the Bank has decided to establish a
Representative Office (hereinafter referred to as "the Representative
Office") in the Hong Kong Special Administrative Region of the People's
Republic of China (hereinafter referred to as "the HKSAR") in order to
assist in performing its objects, notably in Asia and the Pacific
region, and that the Government supports the Bank's decision;
Considering the special status of the HKSAR as described in the
Basic Law of the Hong Kong Special Administrative Region of the People's
Republic of China adopted on 4th April 1990 (hereinafter referred to as
"the Basic Law");
Desiring to settle, in light of international practice relating to
the privileges and immunities of international organizations, the status
of the Representative Office in the HKSAR,
Have agreed as follows:
I. STATUS, PRIVILEGES AND IMMUNITIES OF THE BANK, INCLUDING THE REPRESENTATIVE OFFICE
ARTICLE 1 LEGAL PERSONALITY AND CAPACITY
The Government acknowledges the international legal personality and
the legal capacity of the Bank within the People's Republic of China,
including the HKSAR.
ARTICLE 2 ESTABLISHMENT AND SEAT OF THE REPRESENTATIVE OFFICE
1. The Representative Office in the HKSAR shall be headed by a
senior resident representative, and shall be staffed with such other
personnel as are appointed or assigned by the Bank. The Bank shall
notify the Government of the nomination of the senior resident
representative prior to his or her appointment. The Bank shall not be
subject to any quota with respect to hiring or employing personnel to
work for the Representative Office in the HKSAR for the purpose of
carrying out the Bank's activities.
2. The Bank shall be entitled to lease or acquire movable or
immovable property for the Representative Office and for the
accommodation of its personnel in the HKSAR, as well as such other
facilities (including services and utilities) as may be necessary for
the official purposes of the Bank and its personnel.
3. The Bank shall be entitled to display its flag and emblem, if
any, on the premises of the Representative Office.
ARTICLE 3 FREEDOM OF ACTION OF THE BANK
1. The Government shall guarantee to the Bank the autonomy and
freedom of action to which it is entitled as an international
organization of central banks and monetary authorities based on
international treaties between States.
2. In particular, the Government shall grant to the Bank, including
to the Representative Office, as well as to the members of the Bank and
other institutions in their relations with the Bank, absolute freedom to
hold meetings in the HKSAR in connection with the Bank's objects and
functions(including freedom of discussion and decision).
3. The Government shall facilitate access to the Representative
Office for any person, irrespective of nationality, who fulfils any
function for the Bank or who is invited by the Bank in connection with
any official Bank activities.
4. The Bank shall have the power to make rules and regulations
operative within the Representative Office for the full and independent
exercise of its activities and performance of its functions.
5. The Bank shall not be subject to any form of financial or banking
supervision or obliged to implement any form of accounting standard, or
to comply with any form of licensing or registration requirement.
ARTICLE 4 INVIOLABILITY
1. All or any part of the premises, regardless of ownership,
occupied from time to time as offices by the Representative office shall
be considered as premises of the Bank in the HKSAR and shall be
inviolable; such premises shall be under the control and authority of
the Bank. No representative of the Government or of other authorities,
including the HKSAR authorities, may enter upon the premises of the
Representative Office to perform any duty without the express consent
of, and under the conditions, if any, agreed to by the President of the
Bank, or the General Manager of the Bank, or the Assistant General
Manager of the Bank, or the senior resident representative, or their
duly authorized representative. Consent of the senior resident
representative may, however, be assumed in the case of fire or other
disaster requiring prompt protective action, if he or she cannot be
reached in time.
2. All archives and records of the Bank and, in general, all
documents and any data or data media belonging to the Bank or in its
possession, shall be inviolable at any time and in any place.
3. The Bank shall exercise supervision of and security control over
the premises of the Representative Office.
4. The Representative Office shall be accorded the same protection
against any intrusion or damage and any disturbance of law and order in
or at the Representative Office as that granted by the Government to any
Specialized Agency of the United Nations in the HKSAR.
ARTICLE 5 IMMUNITIES FROM JURISDICTION AND EXECUTION
1. All deposits entrusted to the Bank, all claims against the Bank
and the shares issued by the Bank shall, without the express prior
agreement of the Bank, wherever located and by whomsoever held, be
immune from any form of seizure, attachment, sequestration, execution,
requisition, confiscation, expropriation, freeze or any other form of
seizure by executive, judicial or legislative action.
2. The Bank, including the Representative Office, shall enjoy
immunity from every form of legal process in the People's Republic of
China, including the HKSAR, except:
(a) with respect to contracts relating to real estate in the HKSAR
or to the supply of goods or services for the Representative Office,
which are concluded with a person resident or a body incorporated or
having its principal place of business or domicile in the HKSAR at the
time of the conclusion of the contract, unless otherwise agreed; or
(b) in the case of any civil action brought by a third party for
damage resulting from an accident caused by a motor vehicle belonging
to, or operated on behalf of the Bank, or in respect of a motor traffic
offence involving such a vehicle.
3. The immunity provided for above may be expressly waived in
individual cases by the President, the General Manager or the Assistant
General Manager of the Bank or their duly authorized representative, in
writing or in a duly authenticated telecommunication or by the terms of
a contract.
4. Property and assets of the Bank shall be exempt from any measure
of compulsory execution in the People's Republic of China, including the
HKSAR, except for any final judgment rendered by any HKSAR court which
has jurisdiction over the Bank pursuant to paragraph 2 above.
5. The Administrative Tribunal of the Bank(as described in Article
4.2 of the Headquarters Agreement of the 10th February 1987 determining
the legal status of the Bank in Switzerland)shall have exclusive and
final jurisdiction over all disputes arising in connection with
employment, welfare and pension matters between the Bank and its
personnel or its former personnel, or persons claiming through them.
ARTICLE 6 COMMUNICATIONS
1. All official correspondence and communications to or from the
Representative Office, by whatever means and in whatever form
transmitted or received, shall be immune from censorship and any other
form of interception or interference.
2. The Bank shall be entitled to use codes and encryption for its
official communications. The Bank shall also be entitled to send and
receive official correspondence and communications, on any form of data
media, including by duly identified couriers or in sealed bags, which
shall have privileges and immunities as accorded to the Specialized
Agencies of the United Nations. The Bank shall in particular be entitled
to unfettered access to world-wide telecommunication links of its
choice. The Bank may, with the consent of the relevant HKSAR authority
regarding technical requirements, use a wireless transmitter in the
HKSAR and install and operate in the HKSAR point-to-point
telecommunication facilities and such other telecommunications and
transmission facilities as may be necessary to facilitate communications
with the Representative Office both from within and outside the HKSAR.
3. The Bank shall benefit, in respect of all official
communications, from the same treatment as granted by the Government to
any Specialized Agency of the United Nations insofar as such treatment
is compatible with the International Telecommunication Convention.
ARTICLE 7 PUBLICATIONS, DATA AND DATA MEDIA
The importation of publications and all kinds of data or data media
for the Bank's use, and the exportation of the Bank's publications and
all kinds of data or data media, shall not be subject to any
restriction.
ARTICLE 8 TAX EXEMPTIONS
1. The Bank, its assets, income and other property shall be exempt
from all direct taxes and other taxes, dues, duties or rates of any kind
except:
(a) excise duties, taxes on the sale of movable and immovable
property and taxes on the provision of services which form part of the
price to be paid; nevertheless when the Bank makes important purchases
for official use of property or of services on which such duties and
taxes have been charged or are chargeable, the HKSAR authorities will,
whenever possible, make appropriate administrative arrangements for the
remission or return of the amount of duty or tax;
(b) charges for specific services rendered to the Representative
Office, provided such charges are non-discriminatory and generally
levied; and
(c) the government rent levied by the Government of the HKSAR under
Article 121 of the Basic Law or the terms of land leases.
2. The Bank shall not be subject to taxation on the rent or lease
for any premises rented by it and occupied by its services or personnel.
3. The operations of the Bank shall be exempt from all taxes, dues,
duties or rates of any kind.
4. The Bank shall not be liable for the collection or payment of any
tax, due, duty or rate of any kind.
ARTICLE 9 CUSTOMS TREATMENT
1. The Bank shall be exempt in the HKSAR from all customs duties,
license fees, taxes and other levies, and from economic restrictions on
imports and exports, on all goods and articles, including motor
vehicles, spare parts, publications, data and data media, which are
imported or exported by the Bank for its official use, and from any
obligation for the payment, withholding or collection of any customs
duty. Goods or articles imported into the HKSAR by the Bank under such
exemptions can be disposed of locally in accordance with applicable laws
or administrative regulations.
2. The Bank shall receive the same preferential customs treatment as
that granted by the Government to any Specialized Agency of the United
Nations in the HKSAR.
ARTICLE 10 FREE DISPOSAL OF FUNDS AND FREEDOM TO CONDUCT OPERA-TIONS
1. The Bank may receive, hold, convert and transfer all funds, gold,
currency, cash and other transferable securities, and dispose freely
thereof, and generally carry out without any restriction all operations
permitted by its Statutes within the HKSAR and in the Bank's relations
with other financial markets, subject to Article 19 of its Statutes. In
particular, in connection with expenses directly arising from the
Representative Office's activities, the Bank shall have the unrestricted
right to transfer local currency, or to convert local currency into or
from any other currency.
2. The Bank shall have the unrestricted right to transact business
with any financial or other institution located outside the HKSAR.
ARTICLE 11 PENSION AND SPECIAL FUNDS
The pension fund of the Bank (and any special fund created by the
Bank in connection with other welfare arrangements provided by it, in
particular in order to accumulate reserves) shall enjoy, irrespective of
whether or not the fund has a separate legal personality, the same
exemptions, privileges and immunities as are enjoyed by the Bank itself
with regard to its property. These funds are exempt only to the extent
that they are exclusively for the benefit of the Bank or its personnel
or its former personnel or persons claiming through them.
ARTICLE 12 SOCIAL WELFARE
1. The Bank, as an employer, shall be exempt from the Employment
Ordinance, the Employees' Compensation Ordinance, the Mandatory
Provident Fund Schemes Ordinance and any legislation applicable in the
HKSAR regarding old-age and surviving-dependents insurance, or
incapacity insurance, or unemployment insurance, or insurance for health
care or against accident, or occupational pension schemes, or welfare
systems of any kind, save in respect of any person who is engaged by the
Representative Office as a local employee.
2. The Representative Office's personnel, other than any person who
is engaged by the Representative Office as a local employee, shall be
exempt from such legislation as is referred to in paragraph 1 above and,
in particular, from any mandatory contribution to any insurance or
welfare scheme, unless an agreement to the contrary is reached between
the Bank and the relevant HKSAR authorities. This exemption does not
apply in relation to the employment of any person by personnel of the
Representative Office in their private capacity.
3. The Bank shall ensure that all personnel of the Representative
Office are covered by adequate social security protection.
II. PRIVILEGES AND IMMUNITIES GRANTED TO PERSONS CARRYING OUTOFFICIAL BANK ACTIVITIES
ARTICLE 13 PRIVILEGES, IMMUNITIES AND EXEMPTIONS OF MEMBERS OFTHE BOARD OF DIRECTORS, THE PRESIDENT OF THE BANK, THE GENERAL MANAGERAND ASSISTANT GENERAL MANAGER OF THE BANK AND REPRESENTATIVES OF THEBANK'S MEMBER CENTRAL BANK
S
Members of the Board of Directors of the Bank, the President of the
Bank, the General Manager of the Bank, the Assistant General Manager of
the Bank and representatives of the central banks which are members of
the Bank shall enjoy the following privileges, immunities and exemptions
while carrying out official Bank activities and throughout their journey
to or from the place where a meeting is held in the HKSAR:
(a) immunity from arrest or imprisonment and immunity from
inspection or seizure of personal baggage, except in flagrant instances
of criminal offence;
(b) immunity from inspection or seizure of official baggage;
(c) inviolability of all papers, documents, data or data media;
(d) immunity from the jurisdiction of any People's Republic of
China, including the HKSAR, court or tribunal with respect to things
done or omitted to be done in connection with official Bank activities,
including words spoken and writings, even after their mission has been
accomplished;
(e) the same customs privileges and facilities as those granted by
the Government to officials of comparable rank of any Specialized Agency
of the United Nations in the HKSAR;
(f) the same immigration facilities relating to issue of visas and
conditions of stay for these officials and their respective spouse and
dependent children under the age of 21 as those granted by the
Government to officials of comparable rank of any Specialized Agency of
the United Nations in the HKSAR and exemption from any formality
concerning the registration of aliens and from any obligation relating
to national service in the HKSAR;
(g) the same facilities as regards monetary or exchange regulations
as those granted by the Government to officials of comparable rank of
any Specialized Agency of the United Nations in the HKSAR on a temporary
official mission; and
(h) the right to use codes or encryption in official communications,
and the right to receive or send official documents or correspondence by
means of duly identified couriers or sealed bags.
ARTICLE 14 STATUS OF THE SENIOR RESIDENT REPRESENTATIVE AND SENIOROFFICIALS OF THE REPRESENTATIVE OFFICE
The senior resident representative, as well as such senior officials
as are designated by the General Manager of the Bank, or the Assistant
General Manager of the Bank, and who are neither Chinese nationals nor
permanent residents of the HKSAR, upon the notification of their
designation to the relevant HKSAR authorities, shall enjoy the same
privileges, immunities, exemptions and facilities as those granted by
the Government to officials of comparable rank of any Specialized Agency
of the United Nations in the HKSAR. In particular, such persons shall be
granted, by the appropriate government authorities, the same customs
privileges and facilities as those granted to officials of comparable
rank of any Specialized Agency of the United Nations in the HKSAR.
ARTICLE 15 PRIVILEGES, IMMUNITIES AND EXEMPTIONS GRANTED TO ALLPERSONNEL OF THE REPRESENTATIVE OFFICE
All personnel of the Representative Office, regardless of
nationality or permanent residence status, shall be immune from the
jurisdiction of any HKSAR court or tribunal with respect to things done
or omitted to be done while carrying out official Bank activities,
including words spoken and writings, even when such persons are no
longer employed by the Bank.
ARTICLE 16 PRIVILEGES, IMMUNITIES AND EXEMPTIONS GRANTED TO PER-SONNEL OF THE REPRESENTATIVE OFFICE WHO ARE NEITHER CHINESE NATIONALSNOR HKSAR PERMANENT RESIDENTS
Personnel of the Representative Office together with their
respective spouse and dependent children under the age of 21, who are
neither Chinese nationals nor permanent residents of the HKSAR, shall:
(a) be exempt from any obligation relating to national service of
any kind in the HKSAR;
(b) be afforded the same immigration facilities in relation to issue
of visas as those granted by the Government to personnel of any
Specialized Agency of the United Nations in the HKSAR, shall not be
subject to any restriction on conditions of stay and shall not be
subject to any formality concerning the registration of aliens, or to
any restriction regarding employment or access to educational
institutions, and shall promptly be provided by the HKSAR authorities
with any clearance or document which may be required by the usual
immigration procedures;
(c) with respect to exchange facilities and facilities for the
transfer of assets and property in the HKSAR and abroad, enjoy the same
privileges as those granted by the Government to the personnel of any
Specialized Agency of the United Nations in the HKSAR;
(d) benefit from the same repatriation facilities as those granted
by the Government to the personnel of any Specialized Agency of the
United Nations in the HKSAR;
(e) enjoy immunity from inspection or seizure of official baggage;
(f) enjoy the same customs privileges and facilities as those
granted by the Government to the personnel of comparable rank of any
Specialized Agency of the United Nations in the HKSAR;
(g) be exempt from any tax on salaries, fees, emoluments and
allowances paid to them by the Bank; and
(h) be exempt, at the time of payment, from any tax on capital
payments, if any, paid to them by the Bank, including capital payments
paid to them by way of indemnity for sickness or accident; income
derived from such capital payments, as well as annuities and pensions
paid to former personnel of the Bank, shall not be exempt from tax.
ARTICLE 17 NATIONAL SERVICE OF PERSONNEL OF THE REPRESENTATIVEOFFICE WHO ARE PERMANENT RESIDENTS OF THE HKSAR
If permanent residents of the HKSAR who are personnel of the
Representative Office are, or become, subject to any military or other
national service obligation, the appropriate authorities shall, on
request of the Bank, grant dispensation or leave to the extent necessary
to permit those persons to perform their functions for the Bank.
ARTICLE 18 EXPERTS
1. Experts who are neither Chinese nationals nor permanent residents
of the HKSAR and who carry out temporary missions for the Bank shall, in
connection with their missions, be assimilated to the personnel of the
Representative Office with respect to the privileges, immunities and
exemptions specified in Articles 15 and 16 of this Agreement.
2. Experts who are Chinese nationals or permanent residents of the
HKSAR and who carry out temporary missions for the Bank shall, in
connection with their missions, enjoy the privileges, immunities and
exemptions specified in Article 15 of this Agreement.
ARTICLE 19 PURPOSE OF, WAIVER OF, AND EXCEPTIONS TO, IMMUNITY
1. The privileges, immunities, exemptions, facilities, assurances
and other rights referred to in this Agreement are solely granted to
ensure, in all circumstances, the freedom of action of the Bank and the
complete independence of persons performing official activities for the
Bank, and are not granted for the personal benefit of those persons.
2. Without prejudice to the privileges and immunities conferred by
this Agreement, it is the duty of all persons enjoying such privileges
and immunities to respect the laws and regulations in force in the
HKSAR.
3. The President of the Bank, or the General Manager of the Bank, or
the Assistant General Manager of the Bank shall, if they consider that
the immunity of any member of the personnel of the Representative Office
or expert is being used to hinder the normal course of justice, and that
it is possible to waive such immunity without prejudicing the interests
of the Bank, waive that immunity.
4. Where immunity is not waived in accordance with this Article, the
Bank shall do its best to ensure the satisfactory settlement of disputes
involving any third party and any member of the personnel of the
Representative Office or expert who, pursuant to Articles 14, 15, 16 or
18 benefits from immunity.
5. No person enjoying the privileges, immunities or exemptions
referred to in this Agreement shall be immune from jurisdiction or,
where applicable, from execution, in the event of legal proceedings
against them with respect to damage occasioned by a motor vehicle in
their ownership or control.
6. The Bank and the Government shall co-operate to facilitate the
satisfactory administration of justice, to ensure the observance of
police regulations, if any, and road traffic legislation in force in the
HKSAR, and to prevent any abuse of the privileges, immunities,
facilities and exemptions provided for in this Agreement.
III. GENERAL AND FINAL PROVISIONS
ARTICLE 20 NON-RESPONSIBILITY OF THE GOVERNMENT
The Government shall not, as a result of the Bank's activities in
the HKSAR, assume any responsibility for any act or omission by the Bank
or by its personnel.
ARTICLE 21 SECURITY OF THE HKSAR
1. Nothing in this Agreement shall affect the right of the
Government to apply any appropriate safeguard in the interests of the
security of the HKSAR. If any such safeguard is considered necessary,
the Government shall immediately contact the Bank to determine jointly
with the Bank any appropriate measure to protect the interests of the
Bank.
2. The Bank shall co-operate with the appropriate Government
authorities to prevent any prejudice, as a result of any activity of the
Representative Office, to the security of the HKSAR.
ARTICLE 22 SCOPE AND IMPLEMENTATION
1. Unless otherwise provided, the provisions in this Agreement shall
apply to the HKSAR only.
2. All commitments undertaken and privileges, immunities,
exemptions, facilities, assurances and other rights provided for in this
Agreement shall, as the case may be, apply to:
(a) the Bank;
(b) the Representative Office and any branch and any wholly owned
subsidiary established and carrying out activities in the performance of
the Bank's objects;
(c) any investment fund or similar fund which is established and
maintained by the Bank in the performance of the Bank's objects and
which is wholly controlled by the Bank; and
(d) subsidiaries of the Bank which are not wholly owned by the Bank
but are carrying out activities in the performance of the Bank's
objects, and which are approved by the Government for these purposes.
3. For the purpose of the implementation of this Agreement, the
necessary administrative arrangements shall be made between the HKSAR
Government and the Bank in the form of a memorandum of administrative
arrangements.
4. Unless otherwise provided in this Agreement, the privileges and
immunities conferred on the Bank by this Agreement shall be no less than
those granted by the Government to the Specialized Agencies of the
United Nations under the Convention on the Privileges and Immunities of
the Specialized Agencies of 21st November, 1947.
ARTICLE 23 SETTLEMENT OF DISPUTES
1. In case of any dispute arising from the interpretation or
application of this Agreement, the Government and the Bank shall enter
into consultations with a view to reaching an amicable settlement.
2. If any such dispute cannot be resolved in accordance with
paragraph 1 of this Article, it shall be referred at the instigation of
either party to the Arbitral Tribunal provided for in the Hague
Agreement of 20th January 1930 for final settlement.
ARTICLE 24 EXISTING PRIVILEGES AND IMMUNITIES
This Agreement shall in no way affect the privileges and immunities
granted to the Bank pursuant to the Convention of 20th January 1930
respecting the Bank, the Constituent Charter and Statutes of the Bank,
and the Brussels Protocol of 30th July 1936.
ARTICLE 25 AMENDMENT
This Agreement may be amended at the request of either party.
Following any such request, the parties shall jointly examine and agree
to appropriate changes to the provisions of this Agreement.
ARTICLE 26 TERMINATION
1. Either party may terminate this Agreement upon giving the other
party one year's written notice of termination.
2. Relevant provisions of this Agreement shall continue to be
applied after its termination for the time reasonably required for the
settlement of the affairs of the Bank and the disposal of its property
in the HKSAR as well as for the repatriation of personnel from the
HKSAR.
ARTICLE 27 ENTRY INTO FORCE
This Agreement shall enter into force upon signature.
IN WITNESS WHEREOF, the undersigned, duly authorized respectively
thereto by the Bank and the Government, have signed this Agreement.
Done in duplicate at Basle on 11th May 1998 in the English and
Chinese languages, both texts being equally authentic.
FOR THE BANK FOR INTERNATIONAL FOR THE GOVERNMENT OF
SETTLEMENTS THE PEOPLE'S REPUBLIC OF CHINA
ove and,
in particular, from any mandatory contribution to any insurance or
welfare scheme, unless an agreement to the contrary is reached between
the Bank and the relevant HKSAR authorities. This exemption does not
apply in relation to the employment of any person by personnel of the
Representative Office in their private capacity.
3. The Bank shall ensure that all personnel of the Representative
Office are covered by adequate social security protection.
II. PRIVILEGES AND IMMUNITIES GRANTED TO PERSONS CARRYING OUTOFFICIAL BANK ACTIVITIES
ARTICLE 13 PRIVILEGES, IMMUNITIES AND EXEMPTIONS OF MEMBERS OFTHE BOARD OF DIRECTORS, THE PRESIDENT OF THE BANK, THE GENERAL MANAGERAND ASSISTANT GENERAL MANAGER OF THE BANK AND REPRESENTATIVES OF THEBANK'S MEMBER CENTRAL BANK
S
Members of the Board of Directors of the Bank, the President of the
Bank, the General Manager of the Bank, the Assistant General Manager of
the Bank and representatives of the central banks which are members of
the Bank shall enjoy the following privileges, immunities and exemptions
while carrying out official Bank activities and throughout their journey
to or from the place where a meeting is held in the HKSAR:
(a) immunity from arrest or imprisonment and immunity from
inspection or seizure of personal baggage, except in flagrant instances
of criminal offence;
(b) immunity from inspection or seizure of official baggage;
(c) inviolability of all papers, documents, data or data media;
(d) immunity from the jurisdiction of any People's Republic of
China, including the HKSAR, court or tribunal with respect to things
done or omitted to be done in connection with official Bank activities,
including words spoken and writings, even after their mission has been
accomplished;
(e) the same customs privileges and facilities as those granted by
the Government to officials of comparable rank of any Specialized Agency
of the United Nations in the HKSAR;
(f) the same immigration facilities relating to issue of visas and
conditions of stay for these officials and their respective spouse and
dependent children under the age of 21 as those granted by the
Government to officials of comparable rank of any Specialized Agency of
the United Nations in the HKSAR and exemption from any formality
concerning the registration of aliens and from any obligation relating
to national service in the HKSAR;
(g) the same facilities as regards monetary or exchange regulations
as those granted by the Government to officials of comparable rank of
any Specialized Agency of the United Nations in the HKSAR on a temporary
official mission; and
(h) the right to use codes or encryption in official communications,
and the right to receive or send official documents or correspondence by
means of duly identified couriers or sealed bags.
ARTICLE 14 STATUS OF THE SENIOR RESIDENT REPRESENTATIVE AND SENIOROFFICIALS OF THE REPRESENTATIVE OFFICE
The senior resident representative, as well as such senior officials
as are designated by the General Manager of the Bank, or the Assistant
General Manager of the Bank, and who are neither Chinese nationals nor
permanent residents of the HKSAR, upon the notification of their
designation to the relevant HKSAR authorities, shall enjoy the same
privileges, immunities, exemptions and facilities as those granted by
the Government to officials of comparable rank of any Specialized Agency
of the United Nations in the HKSAR. In particular, such persons shall be
granted, by the appropriate government authorities, the same customs
privileges and facilities as those granted to officials of comparable
rank of any Specialized Agency of the United Nations in the HKSAR.
ARTICLE 15 PRIVILEGES, IMMUNITIES AND EXEMPTIONS GRANTED TO ALLPERSONNEL OF THE REPRESENTATIVE OFFICE
All personnel of the Representative Office, regardless of
nationality or permanent residence status, shall be immune from the
jurisdiction of any HKSAR court or tribunal with respect to things done
or omitted to be done while carrying out official Bank activities,
including words spoken and writings, even when such persons are no
longer employed by the Bank.
ARTICLE 16 PRIVILEGES, IMMUNITIES AND EXEMPTIONS GRANTED TO PER-SONNEL OF THE REPRESENTATIVE OFFICE WHO ARE NEITHER CHINESE NATIONALSNOR HKSAR PERMANENT RESIDENTS
Personnel of the Representative Office together with their
respective spouse and dependent children under the age of 21, who are
neither Chinese nationals nor permanent residents of the HKSAR, shall:
(a) be exempt from any obligation relating to national service of
any kind in the HKSAR;
(b) be afforded the same immigration facilities in relation to issue
of visas as those granted by the Government to personnel of any
Specialized Agency of the United Nations in the HKSAR, shall not be
subject to any restriction on conditions of stay and shall not be
subject to any formality concerning the registration of aliens, or to
any restriction regarding employment or access to educational
institutions, and shall promptly be provided by the HKSAR authorities
with any clearance or document which may be required by the usual
immigration procedures;
(c) with respect to exchange facilities and facilities for the
transfer of assets and property in the HKSAR and abroad, enjoy the same
privileges as those granted by the Government to the personnel of any
Specialized Agency of the United Nations in the HKSAR;
(d) benefit from the same repatriation facilities as those granted
by the Government to the personnel of any Specialized Agency of the
United Nations in the HKSAR;
(e) enjoy immunity from inspection or seizure of official baggage;
(f) enjoy the same customs privileges and facilities as those
granted by the Government to the personnel of comparable rank of any
Specialized Agency of the United Nations in the HKSAR;
(g) be exempt from any tax on salaries, fees, emoluments and
allowances paid to them by the Bank; and
(h) be exempt, at the time of payment, from any tax on capital
payments, if any, paid to them by the Bank, including capital payments
paid to them by way of indemnity for sickness or accident; income
derived from such capital payments, as well as annuities and pensions
paid to former personnel of the Bank, shall not be exempt from tax.
ARTICLE 17 NATIONAL SERVICE OF PERSONNEL OF THE REPRESENTATIVEOFFICE WHO ARE PERMANENT RESIDENTS OF THE HKSAR
If permanent residents of the HKSAR who are personnel of the
Representative Office are, or become, subject to any military or other
national service obligation, the appropriate authorities shall, on
request of the Bank, grant dispensation or leave to the extent necessary
to permit those persons to perform their functions for the Bank.
ARTICLE 18 EXPERTS
1. Experts who are neither Chinese nationals nor permanent residents
of the HKSAR and who carry out temporary missions for the Bank shall, in
connection with their missions, be assimilated to the personnel of the
Representative Office with respect to the privileges, immunities and
exemptions specified in Articles 15 and 16 of this Agreement.
2. Experts who are Chinese nationals or permanent residents of the
HKSAR and who carry out temporary missions for the Bank shall, in
connection with their missions, enjoy the privileges, immunities and
exemptions specified in Article 15 of this Agreement.
ARTICLE 19 PURPOSE OF, WAIVER OF, AND EXCEPTIONS TO, IMMUNITY
1. The privileges, immunities, exemptions, facilities, assurances
and other rights referred to in this Agreement are solely granted to
ensure, in all circumstances, the freedom of action of the Bank and the
complete independence of persons performing official activities for the
Bank, and are not granted for the personal benefit of those persons.
2. Without prejudice to the privileges and immunities conferred by
this Agreement, it is the duty of all persons enjoying such privileges
and immunities to respect the laws and regulations in force in the
HKSAR.
3. The President of the Bank, or the General Manager of the Bank, or
the Assistant General Manager of the Bank shall, if they consider that
the immunity of any member of the personnel of the Representative Office
or expert is being used to hinder the normal course of justice, and that
it is possible to waive such immunity without prejudicing the interests
of the Bank, waive that immunity.
4. Where immunity is not waived in accordance with this Article, the
Bank shall do its best to ensure the satisfactory settlement of disputes
involving any third party and any member of the personnel of the
Representative Office or expert who, pursuant to Articles 14, 15, 16 or
18 benefits from immunity.
5. No person enjoying the privileges, immunities or exemptions
referred to in this Agreement shall be immune from jurisdiction or,
where applicable, from execution, in the event of legal proceedings
against them with respect to damage occasioned by a motor vehicle in
their ownership or control.
6. The Bank and the Government shall co-operate to facilitate the
satisfactory administration of justice, to ensure the observance of
police regulations, if any, and road traffic legislation in force in the
HKSAR, and to prevent any abuse of the privileges, immunities,
facilities and exemptions provided for in this Agreement.
III. GENERAL AND FINAL PROVISIONS
ARTICLE 20 NON-RESPONSIBILITY OF THE GOVERNMENT
The Government shall not, as a result of the Bank's activities in
the HKSAR, assume any responsibility for any act or omission by the Bank
or by its personnel.
ARTICLE 21 SECURITY OF THE HKSAR
1. Nothing in this Agreement shall affect the right of the
Government to apply any appropriate safeguard in the interests of the
security of the HKSAR. If any such safeguard is considered necessary,
the Government shall immediately contact the Bank to determine jointly
with the Bank any appropriate measure to protect the interests of the
Bank.
2. The Bank shall co-operate with the appropriate Government
authorities to prevent any prejudice, as a result of any activity of the
Representative Office, to the security of the HKSAR.
ARTICLE 22 SCOPE AND IMPLEMENTATION
1. Unless otherwise provided, the provisions in this Agreement shall
apply to the HKSAR only.
2. All commitments undertaken and privileges, immunities,
exemptions, facilities, assurances and other rights provided for in this
Agreement shall, as the case may be, apply to:
(a) the Bank;
(b) the Representative Office and any branch and any wholly owned
subsidiary established and carrying out activities in the performance of
the Bank's objects;
(c) any investment fund or similar fund which is established and
maintained by the Bank in the performance of the Bank's objects and
which is wholly controlled by the Bank; and
(d) subsidiaries of the Bank which are not wholly owned by the Bank
but are carrying out activities in the performance of the Bank's
objects, and which are approved by the Government for these purposes.
3. For the purpose of the implementation of this Agreement, the
necessary administrative arrangements shall be made between the HKSAR
Government and the Bank in the form of a memorandum of administrative
arrangements.
4. Unless otherwise provided in this Agreement, the privileges and
immunities conferred on the Bank by this Agreement shall be no less than
those granted by the Government to the Specialized Agencies of the
United Nations under the Convention on the Privileges and Immunities of
the Specialized Agencies of 21st November, 1947.
ARTICLE 23 SETTLEMENT OF DISPUTES
1. In case of any dispute arising from the interpretation or
application of this Agreement, the Government and the Bank shall enter
into consultations with a view to reaching an amicable settlement.
2. If any such dispute cannot be resolved in accordance with
paragraph 1 of this Article, it shall be referred at the instigation of
either party to the Arbitral Tribunal provided for in the Hague
Agreement of 20th January 1930 for final settlement.
ARTICLE 24 EXISTING PRIVILEGES AND IMMUNITIES
This Agreement shall in no way affect the privileges and immunities
granted to the Bank pursuant to the Convention of 20th January 1930
respecting the Bank, the Constituent Charter and Statutes of the Bank,
and the Brussels Protocol of 30th July 1936.
ARTICLE 25 AMENDMENT
This Agreement may be amended at the request of either party.
Following any such request, the parties shall jointly examine and agree
to appropriate changes to the provisions of this Agreement.
ARTICLE 26 TERMINATION
1. Either party may terminate this Agreement upon giving the other
party one year's written notice of termination.
2. Relevant provisions of this Agreement shall continue to be
applied after its termination for the time reasonably required for the
settlement of the affairs of the Bank and the disposal of its property
in the HKSAR as well as for the repatriation of personnel from the
HKSAR.
ARTICLE 27 ENTRY INTO FORCE
This Agreement shall enter into force upon signature.
IN WITNESS WHEREOF, the undersigned, duly authorized respectively
thereto by the Bank and the Government, have signed this Agreement.
Done in duplicate at Basle on 11th May 1998 in the English and
Chinese languages, both texts being equally authentic.
FOR THE BANK FOR INTERNATIONAL FOR THE GOVERNMENT OF
SETTLEMENTS THE PEOPLE'S REPUBLIC OF CHINA
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