Page:United States Statutes at Large Volume 115 Part 3.djvu/702

 115 STAT. 2776 PROCLAMATION 7449—JUNE 8, 2001 Expropriations and Compeiuation for War Damafes 1. Neither Party shall expropriate or nationalize investments either directly or indirectly through measures tantamount to expropriation or nationalization ('expnipnation'^ except for a public purpose; in a non-discriminatory manner; upon pqrment of prompt, adequate and effective compensation, and in accordance with (hie process of law and the general principles of treatment providedforin Article 3. Conipemation shal be equivalent to the fair nurlcel value of the expropriated investment inmiediatdy before the expropriatoTy action vns taken, be paid withoutdelay; inchide interest at a commercaBy reasonable rate fromthe date ofexpropriation;befully realizable; and befreelytraosferaMe atthe prevailing marlcet rate of exchange on the date of expropriation. The fair market value sbaD not reflect any change in value occuiring because the expropriatoiy action bad become lcno>wn before the date of expropriation. 2. Each Party shall accord national and most favored nation treatment to covered investments as regards any measure relatingtolosses that investments suffer in its territory owingto war or other armed conflia, revolution, state of national emergency, insurrection, civil disturbance, or similar events 3. Each Party shall accord restitution, or pay compensation in accordance with paragraph 1. in the event that covered investments suffer from losses in its territory, owing to war or other armed conflict, revolution, state of national emergency, insurrection, civil disturbance, or similar events, that result from: A requisitioning ofail or part ofsuch investments by the Party'sforcesor authorities. destruction ofail or pan ofsuch investments by the Party's forces or authorities that was not required by the necessity of the situation Article II Trade -Related Investment Measures I. Subject to the provisions of paragraph 2, neither Pany shall apply any trade-related investment measures (TRIMs) which are inconsistent with the Agreement on Trade- Related Investment Measures of the WTO The ilhistrative hst of TRIMs set forth in the WTO Agreement on TRIMs ("the List") is contained in Annex I of this Agreement TRIMs contained on the List will be considered inconsistent with this Article regardless of whether they are imposed in htws. regulations, or as conditions for individual investment contracts or licenses % -50- if

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