Subs. by Act 20 of 1983, s. 2 and the Schedule, for "in two or more successive sessions, and if, before the e… — Asian Development Bank Act, 1966

Subs. by Act 20 of 1983, s. 2 and the Schedule, for "in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive session aforesaid" (w.e.f. 15-3-1983).

1. Subs. by Act 20 of 1983, s. 2 and the Schedule, for "in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive session aforesaid" (w.e.f. 15-3-1983). THE SCHEDULE (See section 5) PROVISIONS OF THE AGREEMENT WHICH SHALL HAVE FORCE OF LAW 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 each member . ARTICLE 49 LEGAL STATUS The Bank shall posses 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 . ARTICLE 50 IMMUNITY FROM JUDICIAL PROCEEDINGS

Section 1