Section 5 in The International Monetary Fund and Bank Act, 1945
5. Certain provisions of Agreements to have force of law.
Notwithstanding anything to thecontrary contained in any other law, the provisions of the Fund and Bank Agreements set out in theSchedule shall have the force of law in [India; Subs. by Act 3 of 1951, s. 3 and the Sch., for "Part A States and Part C States"]:Provided that nothing in section 9 of Article IX of the Fund Agreement or in section 9 of Article VIIof the Bank Agreement shall be construed as--(a)entitling the International Fund or International Bank to import into 1[India] goodsfree of any duty of customs without any restriction on their subsequent sale therein, or(b)conferring on the International Fund or International Bank any exemption from duties ortaxes which form part of the price of goods sold or which are in fact no more than charges forservices rendered.
