Third Protocol To The General Agreement On Privileges And Immunities Of The Council Of Europe

Enforcement of arbitral awards shall be enforced where such awards result from arbitration proceedings provided for in Article 2(3) in the territory of the members of the Fund by the judicial process prescribed in each of those Member States and after confirmation of the usual form of enforcement in the State in whose territory the arbitral award is to be enforced; For the purposes of this note, no further review is necessary than to verify that the arbitral award is authentic, whether it complies with the rules of jurisdiction and procedure of the Fund`s lending regulations and is not contrary to a final judgment of the country concerned. Each Signatory shall notify the other Signatories, after depositing its instrument of ratification through the Secretary General of the Council of Europe, of the authority responsible for the execution of this formality under its law. The privileges and immunities of the persons referred to in Article 10 shall not be granted for their personal benefit, but for the independent exercise of their functions. Therefore, a member not only has the right, but is also obliged to waive the immunity of its representatives in all cases where the member considers that the immunity would impede the judicial process and if it can be waived without prejudice to the purpose for which it is granted. The members of the management body, the management board and the audit committee shall be immune from legal proceedings relating to written words or words and to all actions preceded by them in their official capacity and within the limits of their competences. They enjoy this immunity even after the end of their term of office. In addition, they enjoy the same immunities from immigration restrictions and the registration of aliens, as well as the same conditions of exchange and travel that members grant to representatives of other Governments of comparable rank. The amounts paid to them for the costs necessarily incurred in the performance of their duties shall be exempt. The Fund may conclude with any Member State special agreements on the detailed application of the provisions of this Protocol which supplement those provisions or which derogate from those laid down in Article 13. . .

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