Commonwealth Consolidated Regulations

INTERNATIONAL SEA-BED AUTHORITY (PRIVILEGES AND IMMUNITIES) REGULATIONS 1996 - REG 5

  (1)   Subject to subregulation (2) and regulation 6, the Authority has the privileges and immunities specified in items 1, 2, 3, 4, 6, 7, 10, 11 and 12 of the First Schedule to the Act.

  (2)   The Authority's privileges in relation to indirect tax are limited to:

  (a)   the exemption conferred by section 11B of the Act; and

  (b)   concessions under section 11C of the Act in relation to acquisitions mentioned in subregulation 9A (1).