II SÉRIE-A — NÚMERO 98 16

Article 45 Status of the Bank

The Bank shall possess full juridical personality and, in particular, the full legal capacity:

(i) to contract;

(ii) to acquire, and dispose of, immovable and movable property;

(iii) to institute and respond to legal proceedings; and

(iv) to take such other action as may be necessary or useful for its purpose and activities.

Article 46 Immunity from Judicial Proceedings

1. The Bank shall enjoy immunity from every form of legal process, except in cases arising out of or in

connection with the exercise of its powers to raise funds, through borrowings or other means, to guarantee

obligations, or to buy and sell or underwrite the sale of securities, in which cases actions may be brought against

the Bank only in a court of competent jurisdiction in the territory of a country in which the Bank has an office, or

has appointed an agent for the purpose of accepting service or notice of process, or has issued or guaranteed

securities.

2. Notwithstanding the provisions of paragraph 1 of this Article, no action shall be brought against the Bank

by any member, or by any agency or instrumentality of a member, or by any entity or person directly or indirectly

acting for or deriving claims from a member or from any agency or instrumentality of a member. Members shall

have recourse to such special procedures for the settlement of controversies between the Bank and its members

as may be prescribed in this Agreement, in the by-laws and regulations of the Bank, or in the contracts entered

into with the Bank.

3. Property and assets of the Bank shall, wheresoever located and by whomsoever held, be immune from all

forms of seizure, attachment or execution before the delivery of final judgment against the Bank.

Article 47 Immunity of Assets and Archives

1. Property and assets of the Bank, wheresoever located and by whomsoever held, shall be immune from

search, requisition, confiscation, expropriation or any other form of taking or foreclosure by executive or legislative

action.

2. The archives of the Bank, and, in general, all documents belonging to it, or held by it, shall be inviolable,

wheresoever located and by whomsoever held.

Article 48 Freedom of Assets from Restrictions

To the extent necessary to carry out the purpose and functions of the Bank effectively, 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.

Article 49 Privilege for Communications

Official communications of the Bank shall be accorded by each member the same treatment that it accords to

the official communications of any other member.

Article 50 Immunities and Privileges of Officers and Employees

All Governors, Directors, Alternates, the President, Vice-Presidents and other officers and employees of the

Bank, including experts and consultants performing missions or services for 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 the immunity and shall enjoy inviolability of all their official papers, documents and

records;

(ii) where they are not local citizens or nationals, shall be accorded the same immunities from immigration

restrictions, alien registration requirements and national service obligations, and the same facilities as regards

exchange regulations, as are accorded by members to the representatives, officials and employees of

comparable rank of other members; and

(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.