Section 1354 in The International Finance Corporation (Status, Immunities and Privileges) Act, 1958
1354.
The International Finance Corporation has been established by an International Agreement to which India is a signatory. Article V of that Argeement provides for the granting to the Corporation and its officials and employees certain status, immunities and privileges in the territories of each member country. Section 10 of this Article requires each member country to take such action as is necessary in its own territories for the purpose of making effective in terms of its own law, the principal set forth in the Article. In pursuance thereto several member countries have already enacted necessary legislation in this behalf. By this Bill, it is proposed to enact similar legislation to give effect to the provisions, of the said Article VI of the International Agreement. - Gazette of India, 1958, Ext., Pt. II, Section 2, page 986.[17th October, 1958.]An Act to implement the international agreement for the establishment and operation of the International Finance Corporation in so far as it relates to the status, immunities and privileges of that Corporation, and for matters connected therewith.BE it enacted by Parliament in the Ninth Year of the Republic of India as follows:--
