TNAG-2473-FCO40-3600-Asian-Development-Bank-liabilities-of-Hong-Kong-1992 — Page 130

23-JAN-1992 09:54

POLITICAL ADVISOR OFFICE

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P.02

Extract from the

"Agreement Establishing the Asian Development Bank"

Annex III

Chapter VIII

STATUS, IMMUNITIES, EXEMPTIONS AND PRIVILEGES

Article 48

PURPOSE OF CHAPTER

To enable the Bank effectively to fulfil its purpose and carry out the functions entrusted to it, the status, immunities, exemptions and privileges set forth in this Chapter shall be accorded to the Bank in the territory of esch member.

Article 49

LEGAL STATUS

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

(i) to contract;

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

(iii)

to institute legal proceedings.

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