The Energy Charter Treaty:Article 1 Definitions

The Energy Charter Treaty

Article 1 Definitions

Geldend

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As used in this Treaty:

1.

‘Charter’ means the European Energy Charter adopted in the Concluding Document of the Hague Conference on the European Energy Charter signed at The Hague on 17 December 1991; signature of the Concluding Document is considered to be signature of the Charter.

2.

‘Contracting Party’ means a state or Regional Economic Integration Organization which has consented to be bound by this Treaty and for which the Treaty is in force.

3.

‘Regional Economic Integration Organization’ means an organization constituted by states to which they have transferred competence over certain matters a number of which are governed by this Treaty, including the authority to take decisions binding on them in respect of those matters.

4.

‘Energy Materials and Products’, based on the Harmonised System of the World Customs Organization and the Combined Nomenclature of the European Communities, means the items included in Annexes EM I or EM II.

4 bis.

‘Energy-Related Equipment’, based on the Harmonised System of the World Customs Organization, means the items included in Annexes EQ I or EQ II.

5.

‘Economic Activity in the Energy Sector’ means an economic activity concerning the exploration, extraction, refining, production, storage, land transport, transmission, distribution, trade, marketing, or sale of Energy Materials and Products except those included in Annex NI, or concerning the distribution of heat to multiple premises.

6.

‘Investment’ means every kind of asset, owned or controlled directly or indirectly by an Investor and includes:

a)

tangible and intangible, and movable and immovable, property, and any property rights such as leases, mortgages, liens, and pledges;

b)

a company or business enterprise, or shares, stock, or other forms of equity participation in a company or business enterprise, and bonds and other debt of a company or business enterprise;

c)

claims to money and claims to performance pursuant to contract having an economic value and associated with an Investment;

d)

Intellectual Property;

e)

Returns;

f)

any right conferred by law or contract or by virtue of any licences and permits granted pursuant to law to undertake any Economic Activity in the Energy Sector.

A change in the form in which assets are invested does not affect their character as investments and the term ‘Investment’ includes all investments, whether existing at or made after the later of the date of entry into force of this Treaty for the Contracting Party of the Investor making the investment and that for the Contracting Party in the Area of which the investment is made (hereinafter referred to as the ’Effective Date’) provided that the Treaty shall only apply to matters affecting such investments after the Effective Date.

‘Investment’ refers to any investment associated with an Economic Activity in the Energy Sector and to investments or classes of investments designated by a Contracting Party in its Area as ‘Charter efficiency projects’ and so notified to the Secretariat.

7.

‘Investor’ means:

a)

with respect to a Contracting Party:

(i)

a natural person having the citizenship or nationality of or who is permanently residing in that Contracting Party in accordance with its applicable law;

(ii)

company or other organization organized in accordance with the law applicable in that Contracting Party;

b)

with respect to a ‘third state’, a natural person, company or other organization which fulfils, mutatis mutandis, the conditions specified in subparagraph a) for a Contracting Party.

8.

‘Make Investments’ or ‘Making of Investments’ means establishing new Investments, acquiring all or part of existing Investments or moving into different fields of Investment activity.

9.

‘Returns’ means the amounts derived from or associated with an Investment, irrespective of the form in which they are paid, including profits, dividends, interest, capital gains, royalty payments, management, technical assistance or other fees and payments in kind.

10.

‘Area’ means with respect to a state that is a Contracting Party:

a)

the territory under its sovereignty, it being understood that territory includes land, internal waters and the territorial sea; and

b)

subject to and in accordance with the international law of the sea: the sea, sea-bed and its subsoil with regard to which that Contracting Party exercises sovereign rights and jurisdiction.

With respect to a Regional Economic Integration Organization which is a Contracting Party, Area means the Areas of the member states of such Organization, under the provisions contained in the agreement establishing that Organization.

11
a)

‘WTO’ means the World Trade Organization established by the Agreement Establishing the World Trade Organization.

b)

‘WTO Agreement’ means the Agreement Establishing the World Trade Organization, its Annexes and the decisions, declarations and understandings related thereto, as subsequently rectified, amended and modified from time to time.

c)

‘GATT 1994’ means the General Agreement on Tariffs and Trade as specified in Annex 1A to the Agreement Establishing the World Trade Organization, as subsequently rectified, amended or modified from time to time.

12.

‘Intellectual Property’ includes copyrights and related rights, trademarks, geographical indications, industrial designs, patents, layout designs of integrated circuits and the protection of undisclosed information.

13
a)

‘Energy Charter Protocol’ or ‘Protocol’ means a treaty, the negotiation of which is authorized and the text of which is adopted by the Charter Conference, which is entered into by two or more Contracting Parties in order to complement, supplement, extend or amplify the provisions of this Treaty with respect to any specific sector or category of activity within the scope of this Treaty, or to areas of cooperation pursuant to Title III of the Charter.

b)

‘Energy Charter Declaration’ or ‘Declaration’ means a non-binding instrument, the negotiation of which is authorized and the text of which is approved by the Charter Conference, which is entered into by two or more Contracting Parties to complement or supplement the provisions of this Treaty.

14.

‘Freely Convertible Currency’ means a currency which is widely traded in international foreign exchange markets and widely used in international transactions.

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