Foreign relations of the Holy See treaties. Traditionally, an agreement on religious matters between the Holy See of the Catholic Church and a sovereign state is called a concordat. This often includes both recognition and privileges for the Catholic Church in a particular country, such as exemptions from certain legal matters and processes, issues such as taxation, as well as the right of a state to influence the selection of bishops within its territory. Foreign relations of the Holy See The Holy See has long been recognised as a subject of international law and as an active participant in international relations. One observer has said that
Administration of the Patrimony of the Apostolic See and the Holy See. Both before and after the reorganization of its functions in 2014, APSA has been distinct from the Prefecture for the Economic Affairs of the Holy See. The assets entrusted to the Administration (previously in the care of what was its Extraordinary Section) were initially 750 million Italian lire (at that time equivalent to 8,152,000 pounds sterling) in cash and 1000 million Italian lire (at that time equivalent to 10,869,000 pounds sterling) in Italian State bonds, an amount less than Italy would have paid under the Law of Guarantees of 1871, if the Holy See had accepted