Artikel 17

(1). Subject to the conditions and following the procedure laid down by the Governing Board and agreed with the. Government, the Executive Director and the staff members shall be subject to a tax, for the benefit of the Association, on salaries and emoluments paid by the Association. From the date on which this tax is applied such salaries and emoluments shall be exempt from Netherlands income tax. The Government shall retain the right to take these salaries and emoluments into account when assessing the amount of tax to be applied to income from other sources.
(2). In the event that the Association operates a system for the payment of pensions and annuities to its former staff members and their dependents, the provisions of paragraph (1) of this Article shall not apply to such pensions and annuities.