Fiona Nash (NSW, National Party, Assistant Minister for Health) Share this | Hansard source

It is necessary to provide these privileges and immunities to ratify the AIIB articles of agreement. The privileges and immunities form part of the articles. Accepting the amendment would prevent Australia from ratifying the articles and mean Australia would not become a member of the AIIB. The privileges and immunities for the AIIB are modelled on those provided to the World Bank and the Asian Development Bank, and they are necessary for the AIIB and its staff to carry out duties of the bank such as freedom of movement across borders and protection of bank documents.