TNAG-1768-FCO40-2522-Hong-Kong-and-the-Multilateral-Investment-Guarantee-Agency-(-1988 — Page 71

SCHEDULE 1

Article 2

SECTIONS 3, 4, 5 AND 6 OF THE MULTILATERAL INVESTMENT GUARANTEE AGENCY ACT 1988 AS MODIFIED

Status, privileges and immunities of the Agency

3.- (1) The Articles of the Convention specified in subsection

(2) below shall have the force of the law in the Territory.

(2) The Articles referred to in subsection (1) above are

Articles 1(b), 44, 45, 46(a), 47, 48(i) and 50.

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(3) Nothing in Article 47(a) shall be construed

(a) as entitling the Agency to import goods free

of duty or tax without restriction on their

subsequent sale in the country to which they

were imported;

(b) except as provided in subsection (4) below,

as conferring on the Agency any exemption

from duties or taxes which form part of

the price of goods sold; or

(c) as conferring on the Agency any exemption

from duties or taxes which are no more than

charges for services rendered.

(4) The Governor shall make arrangements for refunding

to the Agency, subject to compliance with such conditions as

may be imposed in accordance with the arrangements, car tax

paid on new vehicles, and value added tax paid on the supply

of goods or services, which are necessary for the exercise of

the official activities of the Agency.

(5) If in any proceedings any question arises whether a

person is or is not entitled to any privilege or immunity

by virtue of this section, a certificate issued by or under

the authority of the Governor stating any fact relevant to

that question shall be conclusive evidence of that fact.