Except in so far as it is waived by the Board of Directors or the President of the Bank, any governor, director, alternate, officer, and employee and any expert performing missions for the Bank shall enjoy immunity from suit in respect of acts performed by him in his official capacity; but this immunity shall not apply in the case of a traffic offence committed by him or in the case of a civil action by a third party for damage arising out of any accident caused by a motor vehicle belonging to or operated by him or on his behalf.

Unless he is a British citizen, a British Dependent Territories citizen, or a British Overseas citizen or is permanently resident in the United Kingdom, any director, alternate, officer and other member of the professional staff of the Bank shall enjoy exemption from income tax in respect of emoluments received by him from the Bank.

Part IV of Schedule 1 to the Act shall not operate so as to confer any privilege or immunity on the official staff of representatives, other than alternates, nor on the families of representatives or alternates.

Neither the provisions of the preceding paragraphs of this Article, nor those of Part IV of Schedule 1 to the Act, shall operate so as to confer any privilege or immunity on any person as the representative or alternate representative of Her Majesty's Government in the United Kingdom.