The Energy Charter Treaty:Article 14 Transfers related to investments

The Energy Charter Treaty

Article 14 Transfers related to investments

Geldend

Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.

1.

Each Contracting Party shall with respect to Investments in its Area of Investors of any other Contracting Party guarantee the freedom of transfer into and out of its Area, including the transfer of:

a)

the initial capital plus any additional capital for the maintenance and development of an Investment;

b)

Returns;

c)

payments under a contract, including amortization of principal and accrued interest payments pursuant to a loan agreement;

d)

unspent earnings and other remuneration of personnel engaged from abroad in connection with that Investment;

e)

proceeds from the sale or liquidation of all or any part of an Investment;

f)

payments arising out of the settlement of a dispute;

g)

payments of compensation pursuant to Articles 12 and 13.

2.

Transfers under paragraph 1 shall be effected without delay and (except in case of a Return in kind) in a Freely Convertible Currency.

3.

Transfers shall be made at the market rate of exchange existing on the date of transfer with respect to spot transactions in the currency to be transferred. In the absence of a market for foreign exchange, the rate to be used will be the most recent rate applied to inward investments or the most recent exchange rate for conversion of currencies into Special Drawing Rights, whichever is more favourable to the Investor.

4.

Notwithstanding paragraphs 1 to 3, a Contracting Party may protect the rights of creditors, or ensure compliance with laws on the issuing, trading and dealing in securities and the satisfaction of judgements in civil, administrative and criminal adjudicatory proceedings, through the equitable, non-discriminatory, and good faith application of its laws and regulations.

5.

Notwithstanding paragraph 2, Contracting Parties which are states that were constituent parts of the former Union of Soviet Socialist Republics may provide in agreements concluded between them that transfers of payments shall be made in the currencies of such Contracting Parties, provided that such agreements do not treat Investments in their Areas of Investors of other Contracting Parties less favourably than either Investments of Investors of the Contracting Parties which have entered into such agreements or Investments of Investors of any third state.

6.

Notwithstanding subparagraph 1b), a Contracting Party may restrict the transfer of a Return in kind in circumstances where the Contracting Party is permitted under Article 29(2)a) or the WTO Agreement to restrict or prohibit the exportation or the sale for export of the product constituting the Return in kind; provided that a Contracting Party shall permit transfers of Returns in kind to be effected as authorized or specified in an investment agreement, investment authorization, or other written agreement between the Contracting Party and either an Investor of another Contracting Party or its Investment.

Deze functie is alleen te gebruiken als je bent ingelogd.