Article 16: Prerogatives and Immunities All the provisions of the Prerogative and Immunities agreement of the League of the Arab States passed as per the League's Council resolution No. 575 dated 10 May, 1953, shall be applicable in the case of the Arab Corporation for space communication and also: 1. The corporation's monies, shares, property, assets, and equipment shall be exempted from all kinds of taxation; (whether direct or indirect) customs duties and any other duties. Laws and orders passed to ban or restrict important and exportation concerning that which the corporation imports or exports such as instruments and special material needed for the corporation's business shall not apply to those of the corporation. 2. The corporation, its monies and financial transactions shall be exempted from restrictions imposed on currency and any other restrictions enforced in the country of the Head Office of the corporation or in the locations of its branches and the places where it has activities in the member Arab States.