This Convention shall enter into force on June 6, 2002. The government of People's Republic of China (PRC) deposited the instrument of accession on April 30th, 1988, and the instrument of accession came into force for me on the same day.
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Signatories to this Convention,
Considering the need to strengthen international cooperation to promote economic development and promote foreign investment in general and foreign private investment in particular to contribute to the above development;
Recognizing that by reducing the focus on non-commercial risks, foreign investment flows to developing countries can be promoted and further encouraged;
It is hoped that on the basis of treating foreign investment with fair and stable standards and under the condition that its conditions are consistent with the development needs, policies and objectives of developing countries, the capital and technology for production purposes will be promoted to flow to developing countries;
Convinced that multilateral investment guarantee agencies can play an important role in encouraging foreign investment, supplementing national and regional investment guarantee schemes and private insurance for non-commercial risks; and
It is believed that the institution should repay its debts as much as possible without using its mobilized capital, and achieve this goal by continuously improving investment conditions.
Agree as follows:
Chapter I Establishment, Status, Purpose and Definition of Institutions
Article 1 Establishment and status of institutions
(a) A multilateral investment guarantee agency (hereinafter referred to as the agency) is hereby established.
(b) The institution shall have full legal personality and, in particular, the right to:
(i) Signing contracts;
(ii) Acquisition and disposal of immovable and movable property; and
(iii) Legal proceedings.
Article 2 Aims and purposes
The objective of this institution should be to encourage the provision of funds for the productive investment of its member countries, especially developing member countries, so as to supplement the activities of the International Bank for Reconstruction and Development (hereinafter referred to as the World Bank), the International Finance Corporation and other international development financial institutions.
To achieve these goals, agencies should:
(a) When a member country accepts investment from other member countries, it guarantees non-commercial risks of investment, including reinsurance and reinsurance;
(b) Carry out appropriate supplementary activities to promote investment flows to and among developing member States; and
(c) Exercising other necessary and appropriate incidental powers to further its objectives.
All decisions of the Agency shall be guided by the provisions of this Convention.
Article 3 Definition
For the purposes of this Convention;
(a) "Member States" means the countries for which this Convention is in force in accordance with Article 6 1.
(b) "Host country" or "host government" refers to the investment made in its territory by a member country, its government or any government agency in accordance with Article 66, which has been guaranteed or reinsurance by that agency, or has been considered for guarantee or reinsurance.
(c) "Developing country members" means the second group of members listed in Schedule A of this Convention. The Council referred to in Article 30 may amend the Schedule at any time.
(d) "Extraordinary majority vote" refers to more than 55% of the shares subscribed by the representative office and not less than 2/3 of the total voting rights.
(e) "freely usable currency" means: (1) any freely usable currency designated by the International Monetary Fund; (ii) Any other freely available and effectively used currency designated by the board of directors for the purposes of this Convention after consultation with the International Monetary Fund and with the consent of the countries concerned.
Chapter II Membership and Capital
Article 4 Membership
(a) Membership of the Agency is open to all member countries of the International Bank for Reconstruction and Development and Switzerland.
(b) The founding member countries shall be the countries listed in Annex A of this Convention, and shall join this Convention on or before 1987+654381October 30th.
Article 5 Capital
(a) The legal capital of this institution is 654.38+0 billion special drawing rights (SDR 100000000). The capital is divided into 654.38+10,000 shares, each with a par value of 654.38+10,000 SDR, which can be subscribed by member States. The obligation to pay the subscribed share capital of member countries shall be settled according to the average value of SDR denominated in US dollars from June 30th 198 1 985, that is, each SDR is equal to 1.082 USD.
(b) When accepting a new member, if the existing legal shares are insufficient to enable the member to subscribe for shares in accordance with Article 6, the capital shall be increased.
(c) The capital of the institution may be increased at any time by a special majority vote of the Council.
Article 6 Share subscription
Each founding member of this institution shall subscribe for shares at par value according to the amount of shares in its name in Schedule A of this Convention, and other member States shall subscribe for shares according to the amount and conditions of share capital decided by the board of directors, but under no circumstances shall they subscribe for shares at an issue price lower than par value. The number of shares subscribed by member States shall not be less than 50 shares. Institutions can make rules to enable member countries to increase the subscription share of legal share capital.
Article 7 Differences and requirements of share subscription
Each member state shall pay the initial subscription according to the following conditions:
(i) 65,438+00% of the share capital shall be paid in cash in accordance with Article 8 (a) within 90 days from the date of entry into force of this Convention for member States, and the remaining 65,438+00% shall be paid in non-negotiable interest-free promissory notes or similar bonds, and shall be cashed according to the decision of the board of directors when the institution needs to pay off its debts;
(two) the remaining part shall be recovered by the institution when it is necessary to pay off the debts.
Article 8 Payment of subscribed shares
(a) Share subscription shall be paid in freely usable currency, and 25% of the cash portion of shares payable by developing country members in accordance with Article 7 (i) may be paid in domestic currency.
(b) Call for any part of unpaid shares shall be treated equally for all shares.
(c) If the institution needs to call for debts, and the amount of call is not enough to pay its debts, the institution may call for unpaid shares continuously until the total income is enough to pay its debts.
(d) The amount of liability assumed by the shares shall be limited to the redemption portion of the issue price of the shares.
Article 9 Currency valuation
For the purpose of this Convention, when it is necessary to determine the value of one currency against another, this institution will reasonably determine the value after consultation with the International Monetary Fund.
Article 10 Refund
(a) Under the following circumstances, the Administration will refund the amount of subscribed shares paid to the Member States as soon as possible:
(i) The notice should be used to pay the claim arising from the guarantee or reinsurance contract, but the institution has fully or partially recovered the payment in freely usable currency; or
(ii) The expediting should be due to the failure of the Member State to pay on time, but the Member State later paid all or part of the payment; or
(iii) The Council decided by a special majority vote that the financial situation of the institution allows the repayment of all or part of the arrears to member States from its income.
(b) Any refund made to Member States under this Article shall be paid in freely usable currency, and the amount shall be the ratio of the amount paid by Member States to the total amount paid before the refund.
(c) The amount refunded to Member States under this paragraph shall become part of the obligation of Member States to raise funds under Article 7 (ii).
Chapter III Business Activities
Article 11 Risks insured
(1) Under the premise of not violating the provisions of items (2) and (3) below, this institution can guarantee the losses caused by one or more of the following risks for qualified investment:
(i) Currency exchange
The host government takes new measures to restrict the exchange of its currency into freely usable currency or another currency acceptable to the insured, and restricts its remittance from the host country, including the failure of the host government to take action on the insured's remittance application within a reasonable time;
(ii) Expropriation and similar measures
The host government takes legislative or administrative measures, or slacks its work passively, which actually deprives the insured of the ownership or control of his investment, or the large amount of income he should get from his investment. However, it does not include universally applicable non-discriminatory measures that the government usually takes to manage economic activities within its territory;
(iii) Breach of contract
The host government fails to perform or violate the contract signed with the insured, and (a) the insured can't resort to the judicial or arbitration organ to make a ruling on the relevant litigation, or (b) the judicial or arbitration organ fails to make a ruling within a reasonable period stipulated in the guarantee contract according to the regulations of the institution, or (c) the ruling is not implemented; and
(iv) War and civil strife
According to Article 66, any military action or civil strife in any part of the host country to which this Convention applies.
(b) At the joint application of the investor and the host country, with the approval of a special majority vote, the board of directors may extend the guarantee scope of this Convention to other specific non-commercial risks other than those mentioned in paragraph (a) above. But in any case, it does not include the devaluation or devaluation of the currency.
(c) Losses caused by the following reasons are not covered by the warranty:
(i) Any act or negligence of the host government acknowledged or liable by the insured; and
(ii) Any act, negligence or any other event of the host government that occurred before the conclusion of the guarantee contract.
Article 12 Qualified investment
(1) Qualified investment includes equity investment, including medium and long-term loans issued or guaranteed by equity holders for related enterprises, and other forms of direct investment determined by the board of directors.
(b) With the approval of a special majority vote, the board of directors may extend the qualified investment to any other medium and long-term investment. However, in addition to the loans mentioned in (a) above, other loans are eligible only if they are related to specific investments guaranteed or to be guaranteed by institutions.
(c) The guarantee is limited to the investment that will be implemented after the application for institutional guarantee is received. These investments include:
(i) Foreign exchange remitted for updating, expanding or developing existing investments; and
(ii) Existing investment income that could have been remitted to the host country.
(d) Before guaranteeing the investment, the institution shall determine the following matters:
(a) the economic rationality of investment and its contribution to the development of the host country;
(ii) The investment complies with the laws and regulations of the host country;
(iii) The investment conforms to the development goals and priorities announced by the host country; and
(iv) Investment conditions of the host country, including fair and equal treatment and legal protection for investment.
Article 13 Qualified investors
(a) under the following conditions, any natural person or legal person is eligible to obtain the guarantee of the institution:
(i) The natural person is a national of a Member State other than the host country;
(ii) The legal person is registered in a member state, its principal place of business is in that member state, or most of its capital is owned by one member state or several member states or nationals of these member states. In either case, the Member State shall not be the host country.
(3) Legal persons, whether private or non-private, operate in accordance with commercial norms.
(b) If the investor has more than one nationality, for the purpose of paragraph (a) above, the nationality of a member country shall take precedence over that of a non-member country, and the nationality of the host country shall take precedence over that of any other member country.
(c) According to the joint application of the investor and the host country, the board of directors may extend qualified investors to natural persons, legal persons registered in the host country or legal persons whose capital is mostly owned by nationals of the host country by special majority vote. However, the investment should come from outside the host country.
Article 14 Qualified host country
According to this chapter, only investment in developing countries is guaranteed.
Article 15 Recognition of the host country
Before the host government agrees to provide guarantee for the specified insured risks, the institution shall not sign any guarantee contract.
Article 16 Warranty clause
The guarantee conditions of each guarantee contract are determined by the institution according to the rules and regulations issued by the board of directors, but the institution does not guarantee the full amount of investment losses. The guarantee contract shall be approved by the president under the guidance of the board of directors.
Article 17 Payment of claims
Under the guidance of the board of directors, the president decides the payment of the insured's claim according to the guarantee contract and the policies formulated by the board of directors. The guarantee contract should require the insured to seek administrative relief that is suitable under the current conditions and can be used at any time according to the laws of the host country before the institution pays compensation. The guarantee contract may require a reasonable time interval between the occurrence of the event giving rise to the claim and the payment of the claim.
Article 18 Substitution
(a) After paying or agreeing to pay compensation to the insured, the institution shall subrogate the insured's rights or claims for the insured investment to the host country and other debtors. A suretyship contract shall include subrogation clauses.
(b) All Member States shall recognize the authority of IAEA as specified in paragraph (a) above.
(c) For the use and exchange of the currency of the host country obtained by the agency as a subrogation right according to the above paragraph (a), the host country shall give the agency the same treatment as the original insured when obtaining such funds. In any case, the organization can use this fund to pay its administrative expenses and other expenses. If the currency is not a common currency, the agency should also try to make arrangements with the host country for other uses of the currency.
Article 19 Relations with countries and regional entities
National entities of member countries and regional entities whose capital is mainly owned by member countries carry out business activities similar to institutions. Institutions should cooperate with these institutions and make efforts to supplement their business, aiming at maximizing the efficiency of their own business and expanding their contribution to increasing foreign investment flows. To this end, the agency should make arrangements with these entities on the details of such cooperation, especially reinsurance and reinsurance methods.
Article 20 Reinsurance of National and Regional Entities
(a) An institution may provide reinsurance for one or more specific investments with non-commercial risks underwritten by a member state or an institution of a member state or a regional investment guarantee institution in which a member state owns most of the capital. With the approval of a special majority vote, the board of directors shall stipulate that the institution can bear the maximum amount of reinsurance at any time. For the specific investment that has been completed 12 months before receiving the reinsurance application, according to the provisions of this chapter, the amount promised by the institution shall initially be limited to 10% of the total debt incurred by the institution. The qualified conditions stipulated in Articles 11 to 14 are applicable to reinsurance business, but there is no need to make reinsurance investment after applying for reinsurance.
(b) According to the rules and regulations formulated by the board of directors, define the rights and obligations of both the institution and the reinsurance member country or the reinsurance institution in the reinsurance contract. For those investments that have been completed before the institution receives the reinsurance application, the reinsurance contract needs to be approved by the board of directors, aiming at minimizing the guarantee risk, ensuring that the institution obtains the insurance premium appropriate to the risk it shares, and ensuring that the reinsurance entity is committed to promoting new investments in developing countries.
(c) The institution shall, as far as possible, ensure that it or the reinsurance entity obtains the right of subrogation and arbitration equal to the rights it may have as the initial guarantor. In the reinsurance conditions, it should be required to seek administrative relief according to Article 17 before the institution pays the claim. Subrogation is effective only if the relevant host country agrees to institutional reinsurance in advance. The institution shall stipulate in the reinsurance contract that the insured shall exercise the right or claim of reinsurance investment cautiously.
Article 2 1 Cooperation with private guarantors and reinsurers
(a) Institutions can sign agreements with private guarantors of member countries to strengthen their business, and encourage private guarantors to provide guarantees for non-commercial risks of developing member countries on terms similar to those used by institutions. This cooperation includes the provision of reinsurance services by institutions under the conditions and procedures stipulated in Article 20.
(b) The institution may provide partial or full reinsurance for the guarantee provided by the appropriate reinsurance entity.
(c) Specifically, institutions should strive to guarantee investments that private guarantors or reinsurers cannot guarantee on reasonable terms.
Article 22 Guarantee limit
(a) Unless the board of directors decides otherwise by a special majority vote, the total liabilities guaranteed by this institution according to the provisions of this chapter shall not exceed 65,438+050% of the sum of subscribed capital, reserve and partial reinsurance determined by the board of directors. The board of directors shall, based on its experience in claims settlement, risk diversification and reinsurance amount, regularly check the risk status of various investments guaranteed by institutions, and decide whether to propose to the board of directors to change the maximum amount that institutions can underwrite. In any case, the total amount that an institution decided by the board of directors can insure shall not exceed five times the sum of subscribed capital, reserve and reinsurance fund.
(b) Subject to the guarantee ceiling stipulated in paragraph (a) above, the board of directors may stipulate that:
(i) The amount of guarantee that the institution can provide to investors belonging to the same member state in accordance with this Chapter. When determining the limit, the board of directors should give due consideration to the share of member countries in institutional capital, and should make more relaxed provisions on investment from developing member countries; and
(two) according to various factors of risk diversification, including various projects, different host countries, investment types or risk types, the guarantee limit that the institution can bear.
Article 23 Promotion of investment
(a) Institutions should conduct research and activities to promote investment flows and disseminate information on investment opportunities in developing countries and member States, with the aim of improving the investment environment and promoting the flow of foreign capital to these developing countries. At the request of a member state, the agency can provide technical advice and assistance to improve the investment conditions in the member state. In carrying out these activities, institutions should:
(i) Guided by relevant investment agreements among member States;
(ii) Efforts should be made to remove existing obstacles in developed and developing member countries that affect investment flows to developing member countries; and
(iii) Coordinate with other relevant institutions to promote foreign investment, especially the International Finance Corporation.
(b) Agencies should also:
(i) Promoting the settlement of disputes between investors and host countries;
(ii) Efforts should be made to conclude agreements with developing member countries, especially future host countries, to ensure that these institutions receive treatment no less favourable than investment guarantee institutions or countries that enjoy the most preferential treatment provided by the member countries concerned in investment agreements. Such agreements must be approved by a special majority vote of the board of directors; and
(iii) Promoting and facilitating the conclusion of investment promotion and protection agreements among member States.
(c) When institutions play a role in promoting investment, they should pay special attention to the importance of increasing investment convenience among developing country members.
Article 24 Initiating investment guarantee
In addition to the guarantee business carried out in accordance with the provisions of this chapter, the agency may also provide guarantee for the investment initiated by the member States specified in Annex I to this Convention.
Chapter IV Financial Provisions
Article 25 Financial management
Institutions should carry out their activities in accordance with sound business and prudent financial management practices to maintain their ability to fulfill their financial obligations under any circumstances.
Article 26 Guarantee fees and handling fees
The institution shall stipulate and regularly check the guarantee rates, handling fees and other expenses applicable to various risks.
Article 27 Distribution of net income
(1) Under the premise of not violating Item (3) of Paragraph (1) of Article 10, the institution shall allocate the net income to the reserve before the amount of the institution's reserve reaches 5 times of its subscribed capital.
(b) After the reserve of the institution reaches the level specified in paragraph (a) above, the Council shall decide whether and how the net income of the institution is allocated to the reserve, or to the member countries of the institution, or for other purposes. The net income distributed to the member countries of this institution shall be distributed in proportion to the share of each member country in the capital of this institution according to the decision made by the special majority vote of the board of directors.
Article 28 Budget
The chairman shall prepare the annual budget of the organization and submit it to the Council for approval.
Article 29 Accounts
The agency shall publish an annual report, which shall include various account statements audited by independent auditors, as well as the account statements of the trust fund for the initiative mentioned in Annex I to this Convention. The agency shall regularly submit a summary of its financial position and operating income statement to member States.
Chapter V Organization and Management
Article 30 Institutional structure
The organization shall have a Council, a board of directors, a president and staff to perform the duties determined by the organization.
Article 31 Council
(a) All the powers of the Agency shall be vested in the Council, except those expressly conferred on another unit of the Agency by this Convention. The board of directors may entrust the board of directors to exercise any of its powers, except the following powers:
(i) Accepting new members and determining the conditions for their accession;
(ii) Suspension of membership;
(3) Deciding to increase or decrease capital.
(iv) Increase the limit of the total number of guarantees in accordance with Article 22 (a);
(v) Determining a Member State as a developing country Member State in accordance with Article 3 (c);
(vi) According to Article 39 (a), for voting purposes, new Member States are listed as the first or second Member States, or existing Member States are reclassified;
(seven) to decide the remuneration of directors and deputy directors;
(viii) Stop business activities and liquidate institutional assets;
(ix) Distribution of assets to Member States after liquidation, and
(x) Amend this Convention and its annexes and schedules.
(b) The Council consists of a director and a deputy director, who are appointed by each member country in a manner determined by itself. In the absence of the director, the deputy director shall exercise the right to vote. The Council shall elect a director as its chairman.
(c) The Council will hold annual meetings and other meetings decided by the Council or requested by the Board. At the request of five member States or member States holding 25% of the total voting rights, the Council shall convene a meeting of the Council.
Article 32 The Board of Directors
(a) The board of directors is responsible for the general business of the institution and may take any action required or permitted by this Convention to perform this responsibility.
(b) The board of directors shall consist of not less than 12 directors. The board of directors may adjust the number of directors according to changes in member countries. When a director is absent or unable to exercise his/her powers, each director may designate a deputy director to act on his/her behalf. The President of the World Bank is the ex officio chairman of the board of directors, and has no voting right except casting a casting vote in the case of an equal number of votes.
(c) The board of directors decides the term of office of directors. The first Council was composed of the Council at the opening meeting.
(d) The board of directors shall convene a meeting at the proposal of its chairman or at the request of three directors.
(e) Before the board of directors decides to set up a standing board of directors for continuous work, directors and deputy directors are only paid according to their expenses of attending board meetings and performing other official duties for the organization. Once the continuous board of directors is established, the directors and deputy directors will be paid according to the decision of the board of directors.
Article 33 Chairman and staff
(a) The Chairman will handle the daily affairs of the organization under the overall supervision of the Board of Directors. He is responsible for organizing, appointing and dismissing staff.
(b) The president is nominated by the chairman and appointed by the board of directors. The board of directors decides the salary and term of office of the president.
(c) In performing their duties, the Chairman and the staff should be fully accountable to the Organization and not to other authorities. Every member of IAEA should respect the international nature of this responsibility and should prevent any attempt to influence the chairman or staff to perform their duties.
(d) When appointing staff, the Chairman shall pay due attention to recruiting staff from as wide a region as possible on the premise of ensuring the highest working efficiency and technical level.
(e) Information obtained by the Chairman and staff in the course of carrying out the business of the Organization shall be kept confidential at all times.
Article 34 Political activities are prohibited.
The agency, its chairman and staff shall not interfere in the political affairs of any member state. All its decisions should not be influenced by the political nature of the member States concerned, provided that it does not affect the institution's consideration of all investment-related situations. We should weigh all kinds of considerations related to decision-making impartially in order to achieve the purpose stated in Article 2.
Article 35 Relations with international organizations
The Agency shall, within the scope of this Convention, cooperate with the United Nations and other intergovernmental organizations with special responsibilities in related fields, especially the International Bank for Reconstruction and Development and the International Finance Corporation.
Article 36 Location of headquarters
(a) The headquarters of the Agency shall be located in Washington, D.C., unless the Council decides by a special majority that it shall be located in another place.
(b) The agency may set up other offices according to the needs of its work.
Article 37 Asset custody institutions
Each member state shall designate its central bank as the institution's depository institution to store its currency or other assets held by the institution. If there is no central bank, other departments acceptable to the institution shall be designated for this purpose.
Article 38 Communication channels
(a) Each Member State shall designate an appropriate agency with which the Administration may communicate on matters related to this Convention. The IAEA will take its views as those of member States. At the request of member States, the Administration shall consult with member States on matters related to Articles 19 to 2 1 and matters related to entities or guarantors of member States.
(b) When an institution needs to obtain the consent of a member state before taking any action, it can be considered that the member state has agreed, unless the member state raises an objection within a reasonable time specified in the notice given to it by the institution.
Chapter VI Adjustment and Expression of Voting Rights and Subscription Shares
Article 39 voting and adjustment of the number of subscribed shares
(a) In order to make the voting rights arrangement reflect the equal interests of the two countries listed in Schedule A of this Convention and the importance of financial participation of member countries, each member country has 65,438+077 voting rights, and each share is increased by one share according to the shares held by the member country.
(b) If at any time within three years after the entry into force of this Convention, the total number of members' votes and shares' votes of any one of the two countries listed in Schedule A of this Convention is less than 40% of the total voting rights, such member countries shall enjoy supplementary votes, and the number of votes shall be equal to 40% of the total voting rights of such member countries. The number of supplementary votes shall be distributed according to the proportion of the number of shares of each member country in this category to the total number of shares of that member country. Supplementary tickets should be adjusted from time to time to ensure the proportion of 40% and cancelled at the end of the above three-year period.
(c) In the third year after the entry into force of this Convention, the board of directors shall check the distribution of shares and make a decision under the guidance of the following principles:
(i) The number of votes of member states shall reflect the actual subscription of institutional capital as stipulated in paragraph (a) of this article and the number of votes of member states.
(ii) The shares allocated to countries that have not signed this Convention should be redistributed so that the voting rights of the above two categories of member States can be equal.
(iii) The Council will take measures to improve the ability of member States to subscribe for shares allocated to them.
(d) During the three-year period specified in paragraph (b) of this article, all decisions of the board of directors and the board of directors shall be adopted by a special majority vote, except those required by the Convention.
(e) If the capital of an institution is increased according to Article 5 (c), each member state shall, if required, approve it to subscribe for a certain proportion of the newly-increased share capital, which shall be equivalent to the proportion of the shares subscribed by the member state in the total share capital of the institution before the capital increase, but the member state shall not be obliged to subscribe for the newly-increased share capital.
(f) The board of directors shall make rules for increasing subscription according to paragraph (e) of this article. Such rules should set a reasonable time limit for Member States to submit such subscription applications.
Article 40 The Council shall vote.
(a) Each director has the right to vote for the Member State he represents. Unless otherwise provided in this Convention, the decisions of the Council shall be adopted by a majority vote.
(b) The quorum for convening any board meeting must consist of a majority of directors with more than two thirds of the total voting rights.
(c) The board of directors may establish procedures by issuing regulations, so that when the board considers that its actions are in the best interests of the organization, it may require the board to make a decision on a specific issue without convening a board meeting.
Article 41 election of directors
(a) The election of directors shall be conducted in accordance with Annex B. ..
(b) Directors shall hold office until their successors are elected. If a director is absent for more than 90 days before the end of his term of office, the director who elected the original director shall choose another director to replace the remaining term of office of the original director. Elections require a majority of votes actually cast. During the director's vacancy, in addition to the right to appoint a deputy executive director, the former deputy director shall act as his representative.
Article 42 voting by the board of directors
(a) Each director has the right to exercise the right to vote in the Member State that elected him, and all voting rights held by each director shall be voted as a whole. Unless otherwise stipulated in this Convention, the voting of the board of directors shall be adopted by a majority vote.
(b) The quorum for convening a board meeting must consist of a majority of directors with more than half of the total voting rights.
(c) The board of directors may establish procedures by issuing regulations, so that the chairman of the board of directors may ask the board to make a decision on a specific issue when he thinks that his actions are in the best interests of the organization, without convening a board meeting.
Chapter VII Privileges and Immunities
Article 43 In this chapter,
In order to enable the Executive Board to perform its functions, the immunities and privileges provided for in this chapter shall be granted to the Executive Board within the territory of Member States.
Article 44 Legal procedures
Proceedings against institutions not covered by Articles 57 and 58 can only be submitted to the competent courts within the territory of Member States. Within the territory of a member state, the agency must have an office or agency designated to receive litigation subpoenas or notices. However, (1) member States, representatives or individuals who have obtained creditor's rights from member States, or (2) personal problems, may not bring a lawsuit against the institution. Before the final judgment or ruling is made on the institution, the property and assets of the institution shall not be sealed up, detained or executed in any form, no matter who keeps them.
Article 45 assets
(a) The property and assets of an institution, no matter where they are kept and by whom, shall be free from search, requisition, confiscation, expropriation or any other form of seizure through administrative or legislative actions.
(b) All property and assets of the institution are not subject to any restriction, regulation, control or deferred payment for the purpose of conducting business under this Convention; The property and assets obtained by the institution as the successor or subrogation of the insured, reinsurance entity or investor guaranteed by reinsurance entity are not subject to foreign exchange restrictions, controls and controls applicable to it in the relevant member States according to the treatment enjoyed by the original insured, entity or investor.
(c) For the purposes of this chapter, the term "assets" includes the assets of the Initiative Trust Fund mentioned in Annex I to this Convention and other assets managed by this institution to better achieve its objectives.
Article 46 Archives and communications
The archives of institutions are inviolable no matter where they are located.
(b) Official correspondence between Member States and IBRD should be the same.