Article 5 Privileges and immunities

1. The International Olive Council shall have legal personality. It shall, in particular, have the capacity to contract, to acquire and to dispose of movable and immovable property and to institute legal proceedings. It shall not have the power to borrow money.

2. The status, privileges and immunities of the International Olive Council as well as of its Executive Director, senior officials and staff, and of the experts and delegates of the members who are in the territory of the host Government for the performance of their functions shall be governed by the headquarters agreement concluded between the host Government and the International Olive Council.

3. The Government of the State in which the headquarters of the International Olive Council is situated shall, in so far as the legislation of that State allows, exempt the remuneration paid by the International Olive Council to its employees and the assets, income and other property of the International Olive Council from taxation.

4. The International Olive Council may conclude agreements with one or more members relating to such privileges and immunities as may be necessary for the proper application of this Agreement.