"member of a Technical Committee"  means a person nominated by a Member to represent the Member to the Technical Committee;

  "member of Council"  means a person nominated by a Member to represent the Member at the Council;

  "full member"  means-

(a) the lead banking or financial supervisory authority of a nation;

(b) an intergovernmental international organization responsible for the promotion of Islamic finance or market; or

(c) such other person,

admitted as a full member by the Council;

  "member of Secretariat"  mean

3 -3. Juridical personality and common seal of the Board

.

(1) The Board shall have juridical personality and such legal capacities as are necessary for the exercise of its powers and the performance of its functions in accordance with the Agreement.

(2) Without prejudice to the generality of subsection (1), the Board shall have the capacity to-

(a) contract;

(b) acquire, hold and dispose of movable and immovable property; and

(c) institute legal proceedings.

(3) The Board may have a common seal and may use it for the purposes set out in subsection (2) or for such other matters as may be agreed by the Council.

4 -4. Secretariat of the Board

.

The shall be in Kuala Lumpur.

5 -5. Constituent organs of the Board

.

The Board shall consist of the General Assembly, the Council, the Secretariat and the Technical Committees with such powers, duties and functions as are set out in the Agreement.

6 -6. Authorisation to sign the Agreement and to become a member of the Board

.

(1) The Bank is authorized to sign and accept the Agreement and to become a full member of the Board and to exercise rights or perform duties or functions in respect of its membership.

(2) Without prejudice to the generality of subsection (1), the Bank may-

(a) pay such membership fee to the Board as may be determined from time to time under the Agreement;

(b) grant, donate, loan or advance any sum of money or make such other payments to the Board under any Islamic principle as may be necessary for the establishment of the Board;

(c) lease to the Board or lawfully permit the Board to occupy and use the immovable property of the Bank with or without charge for the purposes of the Board or for the provision of residences for the Secretary-General or other members of the Secretariat;

(d) accept any payment made to it by the Board; and

(e) exercise

7 -7. Power of the Minister to confer privileges and immunities

.

(1) The Minister may by regulations, either with or without restrictions or to the extent or subject to the conditions prescribed in such regulations, confer upon the Board, the members of its constituent organs or any persons attending any international conference organised by the Board all or any privileges or immunities listed in the Schedule.

(2) Without prejudice to the generality of subsection (1), the Minister may by regulations-

(a) confer upon the Board all or any of the privileges or immunities specified in Part I of the Schedule;

(b) confer upon a person who is, or has ceased to be, a member of the General Assembly or the Council or a person accredited to, or is in attendance at, or has attended, an international conference convened by the Board as a representative of a Member all or any of the privileges or immunities specified in Part II of the Schedule;

(c) confer

8 -8. No immunity in certain circumstances

.

This Act shall not confer on any person referred to in section 7 any immunity-

(a) in respect of a civil action by a third party for damage arising from an accident caused by a motor vehicle or other means of transport belonging to or driven by such a person;

(b) in respect of a traffic offence involving such a person and committed by such a person; and

(c) in respect of matters affecting the national interest of Malaysia.

9 -9. Waiver

.

(1) The Council shall have the power to waive the immunities conferred on any person referred to in section 7 where the immunities would impede the course of justice and where the immunities can be waived without prejudicing the purposes for which they were conferred.

(2) The Secretary-General, with the concurrence of the Council, shall have the power to waive the immunities conferred on the Board for the purpose of any commercial transactions entered into by the Board.

(3) The Secretary-General shall have the power to waive the immunities conferred on the members of the Secretariat (other than his own) in section 7 when he considers such immunities are preventing the carrying out of justice and when it is possible to dispense with such immunities without prejudicing the interest of the Board.

10 -10. Power to appoint attorney

.

The Council may, by instrument under the common seal of the Board, appoint any person whether in Malaysia or in a place outside Malaysia to be the attorney of the Board, and the person so appointed may, subject to such instrument, do any act or execute any power or function which he is authorised by the instrument to do or execute.