Miscellaneous - This Day That Age   

dated September 25, 1958: World Finance Corporation

The Lok Sabha on September24 passed the International Finance Corporation (Status, Immunities and Privileges) Bill, after a heated debate lasting four hours. The Bill gives the International Finance Corporation, which was formed in 1956 to promote investment in the private sector, particularly in under-developed countries, certain immunities and privileges in India. Important among them are that the archives of the Corporation in India will be inviolable. The property and assets of the Corporation wherever located and by whomsoever held, will be immune from search, requisition, confiscation, expropriation or any other form of seizure by executive or legislative action.

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