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2. Periods of Responsibility

Consistent with the aforementioned Joint Declaration and Exchange of Memoranda, the United Kingdom shall have responsibility for the obligations

to be performed, as provided herein, until July 1, 1997, and, starting

July 1, 1997, the People's Republic of China shall have responsibility for

the obligations to be performed, as provided herein.

3.

Status Privileges and Immunities

The Governments note the legal status and privileges and immunities of

the Organizations, their Governors, Executive Directors, Alternates, members

of committees, representatives, advisors to any of the foregoing persons,

and the officers and employees of the Organizations, accorded by the

Articles of Agreement 1/ of the respective Organizations and by the

United Nations Convention on the Privileges and Immunities of the

Specialized Agencies, and shall continue to comply with their respective

obligations under these Articles and said Convention. The Governments note

that the Organizations are immune from search, requisition, confiscation,

expropriation, or any other form of seizure by executive or legislative

action with respect to their property and assets, and that their archives

are inviolable.

1/ For purposes of this Agreement, the Articles of Agreement of the Organizations shall include the Conventions establishing the International Centre for Settlement of Investment Disputes and the Multilateral Investment Guarantee Agency,