UNITED KINGDOM STATUTORY INSTRUMENT
1988 No. 791
OVERSEAS DEVELOPMENT AND CO-OPERATION
The Multilateral Investment Guarantee Agency (Overseas Territories) Order 1988
Made 27th April 1988
Coming into force 18th May 1988
At the Court of Saint James, the 27th day of April 1988
Present,
The Counsellors of State in Council
Whereas Her Majesty in pursuance of the Regency Acts 1937 to 1953, was pleased, by Letters Patent dated the 28th day of March 1988, to delegate to the six Counsellors of State therein named or any two or more of them full power and authority during the period of Her Majesty’s absence from the United Kingdom to summon and hold on Her Majesty’s behalf Her Privy Council and to signify thereat Her Majesty’s approval for anything for which Her Majesty’s approval in Council is required:
Now, therefore, Her Majesty Queen Elizabeth The Queen Mother and His Royal Highness The Prince Charles, Prince of Wales, being authorised thereto by the said Letters Patent, and in pursuance of the powers conferred by section 9(4) of the Multilateral Investment Guarantee Agency Act 1988and all other powers enabling Her Majesty, and by and with the advice of Her Majesty’s Privy Council, do on Her Majesty’s behalf order, and it is hereby ordered, as follows:
S-1
This Order may be cited as the Multilateral Investment...
1. This Order may be cited as the Multilateral Investment Guarantee Agency (Overseas Territories) Order 1988 and shall come into force on 18th May 1988.
S-2
The provisions of sections 3, 4, 5 and 6 of the Multilateral...
2. The provisions of sections 3, 4, 5 and 6 of the Multilateral Investment Guarantee Agency Act 1988, modified as in Schedule 1 hereto, shall extend to the Territories specified in Schedule 2 hereto.
S-3
For the purpose of construing the said Act as so extended as...
3. For the purpose of construing the said Act as so extended as part of the law of any Territory to which it extends—
“the Agency” means the Multilateral Investment Guarantee Agency;
“the Convention” means the Convention establishing the Multilateral Investment Guarantee Agency, which was signed on behalf of the United Kingdom on 9th April 1986;
“the Governor” means the officer for the time being administering the government of that Territory or any person whom the Governor may by order designate to perform such of the Governor’s functions under the Act as may be specified in such order;
“the Supreme Court” means the court (by whatever name styled) having unlimited original jurisdiction in that Territory in civil matters;
“the Territory” means that Territory, including its territorial waters.
G. I. de Deney
Clerk of the Privy Council
SCHEDULE 1
Article 2
SECTIONS 3, 4, 5 AND 6 OF THE MULTILATERAL INVESTMENT GUARANTEE AGENCY ACT 1988 AS MODIFIED
1
Status, privileges and immunities of the AgencyStatus, privileges and immunities of the Agency
3.—(1) The Articles of the Convention specified in subsection (2) below shall have the force of the law in the Territory.
(2) The Articles referred to in subsection (1) above are Articles 1(b), 44, 45, 46(a), 47, 48(i) and 50.
(3) Nothing in Article 47(a) shall be construed—
(a)
(a) as entitling the Agency to import goods free of duty or tax without restriction on their subsequent sale in the country to which they were imported;
(b)
(b) except as provided in subsection (4) below, as conferring on the Agency any exemption from duties or taxes which form...
