Updated: Thursday February 20, 2014/AlKhamis
Rabi’ Thani 20, 1435/Bruhaspathivara
Phalguna 01, 1935, at 02:19:36 PM
The International Development Association Ordinance,
1960
ORDINANCE No XX OF 1960
[2nd June, 1960]
An Ordinance to give effect to an international
agreement for the establishment and operation of an International Development
Association and for purposes connected therewith.
WHEREAS Articles of Agreement of the International
Development Association have, on the twenty-sixth day of January, 1960, been
approved by the Executive Directors of the International Bank for
Reconstruction and Development, hereinafter referred to as the Bank, and
deposited in the archives of the Bank for signature and acceptance on behalf of
Governments;
AND WHEREAS it is expedient to provide for the
participation of
Now, THEREFORE, in pursuance of the Proclamation of
the seventh day of October, 1958, and in exercise of all powers enabling him in
that behalf, the President is pleased to make and promulgate the following
Ordinance:---
1. Short title extent and commencement ---(1) This Ordinance may be called the International
Development Association Ordinance, 1960.
(2) It extends to the whole of
(3) It shall come into force on such date as the
Central Government may, by notification in the official Gazette, appoint.
2. Definitions.--In this Ordinance, unless there is anything repugnant in the subject
or context,---
(a) “Agreement” means any Agreement which may be
signed and accepted on behalf of the Government of Pakistan in pursuance of the
Articles of Agreement approved by the Executive Directors of the Bank on the
twenty-sixth day of January, 1960, providing for the establishment and
operation of an international body to be called the International Development
Association;
(b) “Association” means the International Development
Association; and
(c) “member” means a member of the Association.
3. Financial Provisions.--(1) There shall be paid out of the **[Central
Consolidated Fund] all such sums as may be required for the purpose of making
payments on behalf of the Government of Pakistan under section 2 (a) of Article
II and section 1 (a) of Article III of the Agreement.
(2) Any sums received by the Government of Pakistan
from the Association in pursuance of the Agreement shall be paid into the
Federal Consolidated Fund.
***[(3) The Central Government may, if it thinks fit
so to do, create and issue to the International Development Association, in
such form as it thinks fit, any such non-interest bearing and non*negotiable
notes or other obligations as are provided for by paragraph (e) of section 2 of
Article II of the Agreement.]
*[I.e., the 7th October, 1960, see Gaz., of P., 1960,
Ext., p. 1493a.]
**[Subs., by A. O., 1964, Art 2 and Sch., for “Federal
Consolidated Fund.”
***[Sub-section (3) added by the International
Development Association (Amdt.) Ordinance, 1960 (49 of 1960), s. 2.]
4. State Bank to be depository for the Association.--The State Bank of
5. Certain provisions of Agreement to have force of
law.---Notwithstanding anything to
the contrary contained in any other law, the provisions of Article VIII of the
Agreement set out in the Schedule shall have the force of law in Pakistan:---
Provided that nothing in section 9 thereof shall be
construed as,---
(a) entitling the Association to import into
(b) conferring on the Association any exemption from
duties or taxes which form part of the price of goods sold or which are in fact
no more than charges for services rendered.
THE SCHEDULE
(See section 5)
Provisions of Agreement which shall have force of law
THE AGREEMENT
ARTICLE VIII
Status, Immunities and Privileges
SECTION 1.-Purposes of Article
To enable the Association to fulfill the functions
with which it is entrusted, the status, immunities and privileges provided in
this Article shall be accorded to the Association in the territories of each
member.
SECTION 2.-Status of the Association
The Association shall possess full juridical
personality and, in particular, the capacity:---
(i) to contract;
(ii) to acquire and dispose of immovable and movable
property;
(iii) to institute legal proceedings.
SECTION 3.--Position of the Association with regard to
Judicial Process
Actions may be brought against the Association only in
a court of competent jurisdiction in the territories of a member in which the
Association has an office, has appointed an agent for the purpose of accepting
service or notice of process, or has issued or guaranteed securities. No
actions shall, however, be brought by members or persons acting for or deriving
claims for members. The property and assets of the Association shall, wheresoever’s
located and by whomsoever held, be immune from all forms of seizure, attachment
or execution before the delivery of final judgment against the Association.
SECTION 4.--Immunity of Assets from Seizure
Property and assets of the Association, wherever
located and by whomsoever held, shall be immune from search, requisition,
confiscation, expropriation or any other form of seizure by executive or
legislative action.
SECTION 5 Immunity of Archives
The archives of the Association shall be inviolable.
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
Agree*ment, all property and assets of the Association shall be free from
restrictions, regulations, controls and moratoria of any nature.
SECTION 7.--Privilege for Communications
The Official Communications of the Association 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 Association:---
(i) shall be immune from legal process with respect to
acts performed by them in their official capacity except when the Association
waives this immunity;
(ii) not being local nationals, shall be accorded the
same immunities from immigration restrictions, alien regis*tration 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 grated the same treatment in respect of
travel*ling facilities as is accorded by members to representa*tives, officials
and employees of comparable rank of other members.
SECTION 9.--Immunities from Taxation
(a) The Association, 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 Association 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 Association to Executive Directors, Alternates,
officials or employees of the Association who are not local citizens, local
subjects, or other local nationals.
(c) No taxation of any kind shall be levied on any
obligation or security issued by the Association (including any dividend or
interest thereon) by whomsoever held;
(i) which discriminates against such obligation or
security solely because it is issued by the Association; or
(ii) if the sole jurisdictional basis for such
taxation is the place or currency in which it is issued, made payable or paid,
or the location of any office or place of business maintained by the
Association.
(d) No taxation of any kind shall be levied on any
obligation or security guaranteed by the Association (including any divi*dend
or interest thereon) by whomsoever held:---
(i) which discriminates against such obligation or
security solely because it is guaranteed by the Association; or
(ii) if the sole jurisdictional basis for such
taxation is the location of any office or place of business maintained by the
Association.
SECTION 10.--Application of Article
Each member shall take such action as is necessary in
its own territories for the purpose of making effective in terms of its own law
the principles set forth in this Article and shall inform the Association of
the detailed action which it has taken.
Go to Index
| LL. B. – I | LL. B. – II
| LL. B. – III | LL. B.
Directory | Home