Third Protocol to the General Agreement on Privileges and Immunities of the Council of Europe

The Protocol defines the legal status, privileges and immunities of Council of Europe Resettlement Fund (Europe Development Bank).

The Council of Europe Resettlement Fund shall possess juridical personality (Article 1).

Any competent court of a Member of the Fund or of a State in whose territory the Fund has contracted or guaranteed a loan may hear suits in which the Fund is a defendant. Nevertheless: i. No action shall be brought in such courts, either against the Fund by a Member or persons acting for or deriving claims from a Member, or by the Fund against a Member or the persons aforesaid; ii. Differences arising out of any loan or guarantee contract concluded by the Fund with a Member or with any other borrower approved by that Member shall be settled by arbitration in accordance with procedure laid down in the said contract. Differences arising out of any loan or guarantee contract signed by the Fund shall be settled by arbitration procedure under arrangements specified in the Loan Regulations drawn up in pursuance of Article X, Section I (d), of the Articles of Agreement of the Fund (Article 2).

The Governor and officials of the Fund shall be accorded the privileges and immunities specified in Article 18 of the General Agreement on Privileges and Immunities of the Council of Europe. The Governor will specify the categories of officials to which the provisions of the aforesaid Article shall apply, The Secretary General, after consulting the Governor, shall have the right and the duty to waive the immunity of any official in any case where he/she considers that immunity would impede the course of justice and can be waived without prejudice to the satisfactory operation
of the Fund. In the case of the Governor, the Governing Body of the Fund shall have the right to waive immunity.(Article 13).