Bank for International Settlements (Immunity) Act (S.C. 2007, c. 35, s. 140)

Marginal note:Short title

1 This Act may be cited as the Bank for International Settlements (Immunity) Act.

Marginal note:Immunity — government measures

2 The Bank for International Settlements, its property and any property entrusted to it are exempt from the measures referred to in Article 1 of the Protocol regarding the immunities of the Bank for International Settlements that was ratified by Canada on January 20, 1938.

Marginal note:Immunity — judicial process

• 3 (1) The Bank is immune from the juris-diction of any court in respect of a civil proceeding.

• Marginal note:Immunity — property

  (2) The Bank’s property and any property entrusted to it are immune, in respect of any civil proceeding, from attachment and execution.

• Marginal note:Binding on Her Majesty

  (3) Subsections (1) and (2) are binding on Her Majesty in right of Canada.

Marginal note:Non-application of sections 2 and 3

4 For reasons of national security or for the purposes of the conduct of Canada’s international affairs or the implementation of Canada’s international obligations, the Governor in Council may determine that, to the extent specified by the Governor in Council,

• (a) the Bank, its property and any property entrusted to it are not exempt under section 2;

• (b) the Bank is not immune under subsection 3(1); and

• (c) the Bank’s property and any property entrusted to it are not immune under subsection 3(2).