Privileges and immunities
Article 7
1. The Organisation shall have legal personality. It shall in particular have the capacity to contract, acquire and dispose of movable and immovable property and to institute legal proceedings. 2. The status, privileges and immunities of the Organisation, of its Executive Director, its staff and experts, and of representatives of Members while in the territory of the host country for the purpose of exercising their functions, shall be governed by a Headquarters Agreement concluded between the host Government and the Organisation. 3. The Headquarters Agreement referred to in paragraph 2 of this Article shall be independent of this Agreement. It shall however terminate: (a) by agreement between the host Government and the Organisation; (b) in the event of the headquarters of the Organisation being moved from the territory of the host Government; or (c) in the event of the Organisation ceasing to exist. 4. The Organisation may conclude with one or more other Members agreements to be approved by the Council relating to such privileges and immunities as may be necessary for the proper functioning of this Agreement. 5. The Governments of Member countries other than the host Government shall grant the Organisation the same facilities in respect of currency or exchange restrictions, maintenance of bank accounts and transfer of monies, as are accorded to the specialised agencies of the United Nations.