SECTION 87

1. The Community shall have legal capacity and be authorized to: a) contract; b) purchase and assign movable and immovable property essential for the achievement of its objectives; c) borrow; d) be a party to legal proceedings; e) accept donations, legacies and gifts of every kind. 2. The Community shall be represented for this purpose by its Secretary- General. The authority to contract, purchase and dispose of movable and immovable property and to borrow shall be vested in the Secretary-General subject to the prior consent of the Conference. 3. The privileges and immunities granted to Community officials shall be the same as those enjoyed by diplomats in the country of the Community headquarters and in Member States. Similarly, the privileges and immunities granted to the General Secretariat shall be the same as those enjoyed by diplomatic missions in the country of the Community headquarters and in the Member States.