Statutory Rules 1987
No. 2411
Tuvalu Trust
Fund (Privileges and
Immunities)
Regulations
I,
THE ADMINSTRATOR of the Government of the Commonwealth of Australia, acting
with the advice of the Federal Executive Council, hereby make the following
Regulations under the International
Organizations (Privileges and Immunities) Act 1963.
Dated
16 October 1987.
J.
A. ROWLAND
Administrator
By
His Excellency's Command,
Bill
Hayden
Minister
of State for Foreign Affairs and Trade
Citation
1. These Regulations may
be cited as the Tuvalu Trust Fund (Privileges and Immunities) Regulations.
Commencement
2. These Regulations
shall be deemed to have come into operation on 1 July 1987.
Interpretation
3. In these Regulations,
unless the contrary intention appears:
“Fund”
means the Tuvalu Trust Fund;
“the
Act” means the International
Organizations (Privileges and Immunities) Act 1963.
(SR.
224/87)—Cat. No. 15/25.8.1987
Act to apply to the Fund
4. The Fund is declared to
be an international organization to which the Act applies.
Fund to have juridical personality
and legal capacities
5. The Fund:
(a)
is a body corporate with perpetual succession;
(b)
has the capacity to contract; and
(c)
is capable, in its corporate name, of acquiring, holding and disposing of real
and personal property and of instituting legal proceedings.
Privileges and immunities of the
Fund
6. (1) Subject to subregulation (2), the Fund has the privileges and
immunities specified in paragraphs 5 and 7 of the First Schedule to the Act.
(2) The exemption from taxation
conferred by subregulation (1) is an exemption from direct taxation only and is
not an exemption of the Fund from the liability to collect taxes nor an
exemption of the transactions of the Fund from taxes.
NOTE
1.
Notified in the Commonwealth of Australia
Gazette on 23 October 1987.
Printed
by Authority by the Commonwealth Government Printer