Page:United States Statutes at Large Volume 105 Part 2.djvu/285

 PUBLIC LAW 102-182—DEC. 4, 1991 105 STAT. 1237 Colombia Peru. (2) Before the President designates any country as a beneficiary country for purposes of this title, he shall notify the House of Representatives and the Senate of his intention to make such designation, together with the considerations entering into such decision. (c) LIMITATIONS ON DESIGNATION.—The President shall not designate any country a beneficiary country under this title— (1) if such country is a Communist country; (2) if such country— (A) has nationalized, expropriated or otherwise seized ownership or control of property owned by a United States citizen or by a corporation, partnership, or association which is 50 percent or more beneficially owned by United States citizens, (B) has taken steps to repudiate or nullify— (i) any existing contract or agreement with, or (ii) any patent, trademark, or other intellectual property of, a United States citizen or a corporation, partnership, or association, which is 50 percent or more beneficially owned by United States citizens, the effect of which is to nationalize, expropriate, or otherwise seize ownership or control of property so owned, or (C) has imposed or enforced taxes or other exactions, restrictive maintenance or operational conditions, or other measures with respect to property so owned, the effect of which is to nationalize, expropriate, or otherwise seize ownership or control of such property, unless the President determines that— (i) prompt, adequate, and effective compensation has been or is being made to such citizen, corporation, partnership, or association, (ii) good-faith negotiations to provide prompt, adequate, and effective compensation under the applicable provisions of international law are in progress, or such country is otherwise taking steps to discharge its obligations under internationgil law with respect to such citizen, corporation, partnership, or association, or (iii) a dispute involving such citizen, corporation, partnership, or association, over compensation for such a seizure has been submitted to arbitration under the provisions of the Convention for the Settlement of Investment Disputes, or in another mutually agreed upon forum, and gromptly furnishes a copy of such determination to the enate and House of Representatives; (3) if such country fails to act in good faith in recognizing as binding or in enforcing arbitral awards in favor of United States citizens or a corporation, partnership, or association which is 50 percent or more beneficially owned by United States citizens, which have been made by arbitrators appointed for each csise or by permanent arbitral bodies to which the parties involved have submitted their dispute; (4) if such country affords preferential treatment to the products of a developed country, other than the United States, and if

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