(1) It is declared that the provisions of the Host Country Agreement as specified in Schedule 1 shall have the force of law in Hong Kong and shall for that purpose be construed in accordance with subsections (2), (3), (4), (5), (6) and (7).
(2) In applying those provisions of the Host Country Agreement, ¡§senior resident representative¡¨ shall be construed as meaning the senior resident representative of the Representative Office referred to in paragraph 1 of Article 2 of the Host Country Agreement.
(3) In applying paragraph 5 of Article 5 of the Host Country Agreement, ¡§Headquarters Agreement¡¨ shall be construed as meaning the Agreement between the Swiss Federal Council and the Bank to determine the Bank¡¦s legal status in Switzerland, done at Berne on 10 February 1987, as amended from time to time.
(4) In applying paragraph 3 of Article 6 of the Host Country Agreement, ¡§International Telecommunication Convention¡¨ shall be construed as meaning the Convention of the International Telecommunication Union, done at Geneva on 22 December 1992 and as amended in 1994.
(5) In applying Article 13 of the Host Country Agreement, the reference to ¡§flagrant instances of criminal offence¡¨ shall be construed as a reference to any offence punishable on a first conviction with imprisonment for a term of up to 5 years or with a more severe sentence.
(6) In applying Article 14 of the Host Country Agreement, ¡§senior officials¡¨ shall be construed as meaning the Deputy Chief Representative, the Head of Regional Treasury, Asia Pacific and any other officials of the Representative Office of a rank comparable to that of a senior official of any Specialized Agency of the United Nations in the Hong Kong Special Administrative Region.
(7) In applying paragraph 1 of Article 21 of the Host Country Agreement, the reference to ¡§safeguard¡¨ shall be construed as including any safeguard that the Central People¡¦s Government authorizes the Government of the Hong Kong Special Administrative Region to apply.