International Development Association (Status, Immunities and Privileges) Act 1960,32
Act No :
Section : SHORT TITLE, EXTENT AND COMMENCEMENT
INTERNATIONAL DEVELOPMENT ASSOCIATION (STATUS, IMMUNITIES AND PRIVILEGES) ACT, 1960
32 of 1960
9th September, 1960
STATEMENT OF OBJECTS AND REASONS "A new financial institution called the International Development Association is being established as an affiliate of the International Bank for Reconstruction and Development, by an International Agreement to which India will be a signatory. Article VIII of the Articles of Agreement of the said Association provides for the granting to the Association and its officials and employees certain status, immunities and privileges in the territory of each member country. Section 10of this Article requires each member country to take such action as is necessary in its own territories for the purpose of making effective in terms of its own law, the principles set forth in the Article. By this Bill, it is proposed to enact the necessary legislation to give effect to the provision of the said Article VIII of the Articles of Agreement." -Gaz. of India, 1960, Extra., Pt. II-S. 2, p. 450.
An Act to implement the international agreement for the establishment and operation of the International Development Association in so far as it relates to the status, immunities and privileges of that Association, and for matters connected therewith. Be it enacted by Parliament in the Eleventh Year of the Republic of India as follows :-
SECTION 01: SHORT TITLE, EXTENT AND COMMENCEMENT
(1) This Act may be called The International Development Association (Status, Immunities and Privileges) Act, 1960.
(2) It extends1to the whole of India.
(3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.2
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