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CH. 41 Arbitration (International Investment Disputes)
Act 1966
SCH.
ARTICLE 15
(1) Panel members shall serve for renewable periods of six yea (2) In case of death or resignation of a member of a Panel, authority which designated the member shall have the right designate another person to serve for the remainder of that membe
term.
(3) Panel members shall continue in office until their successor have been designated.
ARTICLE 16
(1) A person may serve on both Panels.
(2) If a person shall have been designated to serve on the same Panel by more than one Contracting State, or by one or more Contracting States and the Chairman, he shall be deemed to have been designated by the authority which first designated him or, if one such authority is the State of which he is a national, by that State. (3) All designations shall be notified to the Secretary-General and shall take effect from the date on which the notification is received.
SECTION 5 Financing the Centre
ARTICLE 17
If the expenditure of the Centre cannot be met out of charges for the use of its facilities, or out of other receipts, the excess shall be borne by Contracting States which are members of the Bank in proportion to their respective subscriptions to the capital stock of the Bank, and by Contracting States which are not members of the Bank in accordance with rules adopted by the Administrative Council.
SECTION 6
Status, Immunities and Privileges
ARTICLE 18
The Centre shall have full international legal personality. The legal capacity of the Centre shall include the capacity
(a) to contract;
(b) to acquire and dispose of movable and immovable property: (c) to institute legal proceedings.
ARTICLE 19
To enable the Centre to fulfil its functions, it shall enjoy in the territories of each Contracting State the immunities and privileges set forth in this Section.
ARTICLE 20
The Centre, its property and assets shall enjoy immunity from all legal process, except when the Centre waives this immunity.
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