Rs Agreement Of March 24, 1972, The Legal Status In Switzerland Of The European Investment Bank

Original Language Title: RS Accord du 24 mars 1972 sur le statut juridique en Suisse de la Banque Européenne d’investissement

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Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99. original agreement on the legal status in Switzerland of the European Bank of investment determined on 24 March 1972 approved by the Federal Assembly on 27 September 1972 Swiss ratification Instrument notified on November 14, 1972, entered into force with effect from August 1, 1971 the Swiss federal Council, and the European Investment Bank with provisional to Luxembourg headquarters concluded the agreement below to determine the legal status in Switzerland of the Bank and its officials.

Title I personality legal art. 1. the federal Council acknowledges the international personality and legal capacity of the European Investment Bank.

Title II jurisdiction of the courts of Swiss art. 2. the Bank may be subject to the jurisdiction of the Swiss courts in the cases and under the terms provided for in this title.

Art. 3. the Bank may be operated before the Swiss courts as long as it (i) has established an office in Switzerland. or (ii) has elected domicile in Switzerland for the purpose of receiving any meanings or notifications of summons; or (iii) has issued or guaranteed securities in Switzerland.

Art. 4. the Bank, however, cannot be operated by Member States or by persons acting on behalf of those members or pulling their rights.

Art. 5. the property and assets of the Bank cannot be subject to any form of seizure or execution until a final judgment is not handed against the Bank.

Title III Operations art. 6. the Bank may perform in Switzerland all the operations provided for in its statutes, subject, however, that the Bank has received approval from the Swiss National Bank (i) before making a loan on the Swiss market; (ii) to guarantee a loan made in the Swiss market; (iii) to buy or sell securities in Switzerland issued by it guaranteed by it, or in which she has made investments.

Title IV goods and assets art. 7. the property and assets of the Bank, wherever they are located and whatever holders, cannot do the subject of search, requisition, confiscation, expropriation or any other form of executive or legislative constraint.

Art. 8. the archives of the Bank shall be inviolable.

Art. 9. to the extent necessary for the execution of the operations provided for in the statutes of the Bank and subject to the provisions of this agreement, all the property and assets of the Bank will be exempt from restrictions, regulations, controls and arrears of any kind.

Title V status tax art. 10. the underwriting and placement of bonds (including the "notes") of the Bank by Swiss banks are both subject to a right of negotiation around calculated at the rate set for bonds issued by a person domiciled in Switzerland (currently one per thousand of the conveyance). This Regulation shall apply to all bonds issued from July 1, 1974.
The Bank is exempt from the right on the stamp for the term deposits with Swiss banking institutions as well as the withholding tax deducted from the income of its capital invested in Switzerland; to promote the exemption, the bank address the Federal Tax Administration a request for refund of the tax withheld to cover.
If more extensive tax privileges should be granted to the International Bank for Reconstruction and development and the Inter-American Development Bank, the European Investment Bank will benefit from the same treatment.

New content according to the exchange of letters of 8/10 dec. 1975 between the Swiss Mission to the European communities in Brussels and the EIB in Luxembourg (RO 1976 184).
Stamp duty for term deposits is no longer perceived (art. 1 of the Federal Act of June 27, 1973, on stamp duty - RS 641.10).

Title VI officials of the art Bank. 11. the officials of the Bank shall enjoy immunity for acts done by them in their official capacity, including their words and their writings.

Title VII settlement of disputes art. 12. any disputes between the Bank and the Swiss federal Council, regarding the interpretation or application of this agreement or any arrangement or additional agreement, and that has been resolved through negotiation, subject to the decision of a panel of three arbitrators. the first will be appointed by the Swiss federal Council, the second by the Bank and an obviates by the President of the International Court of Justice, unless in a given case, the parties agree to have recourse to another mode of settlement.

Final provisions art. 13. the present agreement is signed on behalf of the Swiss federal Council subject to ratification.
It will enter into force on the date of ratification with retroactive effect to the date of August 1, 1971.
It may be terminated on part and the other for an opinion given a year in advance.
The way to Bern, on March 24, 1972, in two originals in french and two in German, both texts being equally authentic.

To the Swiss federal Council: for the European Investment Bank: Paul R. James Yves Le Portz RO 1972 2822; FF 1972 II 209 RO 1972 2820 State 11. July 2006

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