Section 6. 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 Bank shall be free from restrictions, regulations, controls and moratoria of any nature.
Section 7. Privilege for communications
The official communications of the Bank shall be accorded by each member the same treatment that it accords to the official communications of other members.
Section 8. Immunities and privileges of officers and employees
All governors, executive directors, alternates, officers and employees of the Bank
- (I) shall be immune from legal process with respect to acts performed by them in their official capacity except when the Bank waives this immunity;
- (II) not being local nationals, shall be accorded 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 members to the representatives, officials, and employees of comparable rank of other members;
- (III) shall be granted the same treatment in respect of travelling facilities as is accorded by members to representatives, officials and employees of comparable rank of other members.
Section 9. Immunities from taxation
(a) The Bank, its assets, property, income and -its operations and transactions authorized by this Agreement, shall be immune from all taxation and from all customs duties. The Bank shall also be immune from liability for the collection or payment of any tax or duty.
(b) No tax shall be levied on or in respect of salaries and emoluments paid by the Bank to executive directors, alternates, officials or employees of the Bank who are not local citizens, local subjects, or other local nationals.
