Common use of Expropriation and Nationalisation Clause in Contracts

Expropriation and Nationalisation. (1) Neither Contracting Party shall nationalise, expropriate or subject to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as "expropriation") the investments of nationals of the other Contracting Party unless the following conditions are complied with: (a) The expropriation is for a public purpose related to the internal needs of that Contracting Party and under due process of law; (b) The expropriation is non-discriminatory; and (c) The expropriation is accompanied by the payment of prompt, adequate and effective compensation. (2) The compensation referred to in paragraph (1) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors.paragraph (1) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors. (3) The compensation shall be paid without undue delay, shall include interest at a commercially reasonable rate from the date the measures were taken to the date of payment and shall be freely transferable between the territories of the Contracting Parties. The compensation shall be payable either in the currency in which the investment or investments were originally made or, if requested by the national, in a freely convertible currency.

Expropriation and Nationalisation. (1) Neither Contracting Party shall nationalise, expropriate or subject to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as "expropriation") the investments of nationals of the other Contracting Party unless the following conditions are complied with: (a) The expropriation is for a public purpose related to the internal needs of that Contracting Party and under due process of law; (b) The expropriation is non-discriminatory; and (c) The expropriation is accompanied by the payment of prompt, adequate and effective compensation. (2) The compensation referred to in paragraph (1) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors.paragraph (1) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors. (3) The compensation shall be paid without undue delay, shall include interest at a commercially reasonable rate from the date the measures were taken to the date of payment and shall be freely transferable between the territories of the Contracting Parties. The compensation shall be payable either in the currency in which the investment or investments were was originally made or, if requested by the national, in a any other freely convertible currency.

Expropriation and Nationalisation. (1) . Neither Contracting Party shall nationalise, expropriate or subject to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as "expropriation") the investments of nationals investors of the other Contracting Party unless the following conditions are complied with: (a) The expropriation is except for a public purpose related to the internal needs of that Contracting Party and under due process of law; (b) The expropriation is purpose, on a non-discriminatory; and (c) The expropriation is accompanied by the payment of promptdiscriminatory basis, adequate in accordance with its laws and effective against fair and equitable compensation. (2) . The compensation referred to in paragraph (1) 1 of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors.paragraph (1) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors. (3) . The compensation shall be paid without undue delay, shall include interest at a commercially reasonable normal market rate from the date the measures were taken to the date of payment and shall be freely transferable between the territories of the Contracting Parties. The compensation shall be payable either in the currency in which the investment or investments were was originally made or, if requested by the nationalinvestor, in a any other freely convertible currency. 4. An investor whose investment is expropriated may, under the law of the Contracting Party making the expropriation, seek review of the expropriation measures by a judicial or other independent authority of that Party, as appropriate. The Contracting Party making the expropriation shall make every endeavour to ensure that such review is carried out promptly. 5. Where a Contracting Party expropriates a company, investments in a company or the assets of a company, which is incorporated or constituted under the law in force in any part of its own territory, and in which investors of the other Contracting Party own shares, it shall ensure that the provisions of this Article are applied to the extent necessary to ensure compensation in respect of their investments to such investors of the other Contracting Party who are owners of those shares.

Expropriation and Nationalisation. (1) 1 . Neither Contracting Party shall nationalise, expropriate or subject to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as "expropriation") the investments of nationals investors of the other Contracting Party unless the following conditions are complied with: (a) The expropriation is for a public purpose related to the internal needs of that Contracting Party and under due process of law; (b) The expropriation is non-discriminatory; and (c) The expropriation is accompanied by the payment of prompt, adequate and effective compensation. (2) 2 . The compensation referred to in paragraph (11(c) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors.paragraph (11(c) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors. (3) 3 . The compensation shall be paid without undue delay, shall include interest at a commercially reasonable rate from the date the measures were taken to the date of payment and shall be freely transferable between the territories of the Contracting Partiesparties. The compensation shall be payable either in the currency in which the investment or investments were was originally made or, if requested by the nationalinvestor, in a any other freely convertible currency.

Expropriation and Nationalisation. (1) Neither Contracting . Investments of investors of either Party shall nationalisenot be subjected, expropriate directly or subject indirectly, to measures any measure of nationalization or expropriation in the territory of the other Party or any measure having effect equivalent to nationalisation or expropriation (hereinafter referred to as "expropriation") the investments of nationals of the other Contracting Party unless the following conditions are complied withexcept: (a) The expropriation is for For a public purpose related to the internal needs of that Contracting Party and under due process of law; (b) The Where the expropriation is non-discriminatory; and (c) The expropriation is Where accompanied by the payment of prompt, adequate and effective compensation. (2) . The compensation referred to in paragraph (11(c) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors.paragraph (11(c) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors. (3) . The compensation shall be paid without undue delay, shall include interest at a commercially reasonable normal commercial rate from the date the measures were taken to the date of payment and shall be freely transferable between the territories of the Contracting Partiesparties at the rate of exchange prevailing at the date used for the determination of value. The compensation shall be payable either in the currency in which the investment or investments were was originally made or, if requested by the nationalinvestor, in a any other freely convertible usable currency.

Expropriation and Nationalisation. (1) . Neither Contracting Party shall nationalise, expropriate or subject to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as "expropriation") the investments of nationals investors of the other Contracting Party unless the following conditions are complied with: (a) The expropriation is for a public purpose related to the internal needs of that Contracting Party and under due process of law; (b) The expropriation is non-discriminatory; and (c) The expropriation is accompanied by the payment of prompt, adequate and effective compensation. (2) . The compensation referred to in paragraph (11(c) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors.paragraph (11(c) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors. (3) . The compensation shall be paid without undue delay, shall include interest at a commercially reasonable rate from the date the measures were taken to the date of payment and shall be freely transferable between the territories of the Contracting Partiesparties. The compensation shall be payable either in the currency in which the investment or investments were was originally made or, if requested by the nationalinvestor, in a any other freely convertible currency.

Expropriation and Nationalisation. (1) Neither Contracting Party shall nationalise, expropriate or subject to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as "expropriation") the investments of nationals investors of the other Contracting Party unless the following conditions are complied with: (a) The expropriation is for a public purpose related to the internal needs of that Contracting Party and under due process of law; (b) The expropriation is non-discriminatory; and (c) The expropriation is accompanied by the payment of prompt, adequate and effective compensation. (2) The compensation referred to in paragraph (1) 1 of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors.paragraph (1) 1 of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors. (3) The compensation shall be paid without undue delay, shall include interest at a commercially reasonable rate from the date the measures were taken to the date of payment and shall be freely transferable between the territories of the Contracting Parties. The compensation shall be payable either in the currency in which the investment or investments were originally made or, if requested by the nationalinvestor, in a any other freely convertible currency.

Expropriation and Nationalisation. (1) . Neither Contracting Party shall nationalise, expropriate or subject to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as "expropriation") the investments of nationals investors of the other Contracting Party unless the following conditions are complied with: (a) The expropriation is for a public purpose related to the internal needs of that Contracting Party and under due process of law; (b) The expropriation is non-discriminatory; and (c) The expropriation is accompanied by the payment of prompt, adequate and effective compensation. (2) . The compensation referred to in paragraph (11(c) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors.paragraph (11(c) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors. (3) . The compensation shall be paid without undue delay, shall include interest at a commercially reasonable rate from the date the measures were taken to the date of payment delay and shall be freely transferable between the territories areas of the Contracting Parties. The compensation shall be payable either in the currency in which the investment or investments were was originally made or, if requested by the nationalinvestor, in a any other freely convertible currency.

Expropriation and Nationalisation. (1) . Neither Contracting Party shall nationalise, expropriate or subject to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as "expropriation") the investments of nationals investors of the other Contracting Party unless the following conditions are complied with: (a) The expropriation is except for a public purpose related to the internal needs of that Contracting Party and under due process of law; (b) The expropriation is purpose, on a non-discriminatory; and (c) The expropriation is accompanied by the payment of promptdiscriminatory basis, adequate in accordance with its laws and effective against fair and equitable compensation. (2) . The compensation referred to in paragraph (1) 1 of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors.paragraph (1) 1 of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors. (3) . The compensation shall be paid without undue delay, shall include interest at a commercially reasonable normal market rate from the date the measures were taken to the date of payment and shall be freely transferable between the territories of the Contracting Parties. The compensation shall be payable either in the currency in which the investment or investments were was originally made or, if requested by the nationalinvestor, in a any other freely convertible currency. 4. An investor whose investment is expropriated may, under the law of the Contracting Party making the expropriation, seek review of the expropriation measures by a judicial or other independent authority of that Party, as appropriate. The Contracting Party making the expropriation shall make every endeavour to ensure that such review is carried out promptly. 5. Where a Contracting Party expropriates a company, investments in a company or the assets of a company, which is incorporated or constituted under the law in force in any part of its own territory, and in which investors of the other Contracting Party own shares, it shall ensure that the provisions of this Article are applied to the extent necessary to ensure compensation in respect of their investments to such investors of the other Contracting Party who are owners of those shares.

Expropriation and Nationalisation. (1) . Neither Contracting Party shall nationalise, expropriate or subject to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as "expropriation") the investments of nationals investors of the other Contracting Party unless the following conditions are complied with: (a) The expropriation is for a in the public purpose interest which is related to the internal needs of that Contracting Party and under due process of law; (b) The expropriation is non-discriminatory; and (c) The expropriation is accompanied by the payment of prompt, adequate and effective compensation. (2) . The compensation referred to in paragraph (11(c) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors.paragraph (11(c) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors. (3) . The compensation shall be paid without undue delay, shall include interest at a commercially reasonable rate from the date the measures were taken to the date of payment and shall be freely transferable between the territories of the Contracting Partiesparties. The compensation shall be payable either in the currency in which the investment or investments were was originally made or, if requested by the nationalinvestor, in a any other freely convertible currency.

Expropriation and Nationalisation. (1) Neither Contracting Party shall nationalise, expropriate or subject to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as "‘expropriation"”) the investments of nationals investors of the other Contracting Party unless the following conditions are complied with: (a) The expropriation is except for a public purpose related to the internal needs of that Contracting Party purpose, on a non discriminatory basis, in accordance with its laws and under due process of law; (b) The expropriation is non-discriminatory; and (c) The expropriation is accompanied by the payment of prompt, adequate against fair and effective equitable compensation. (2) The compensation referred to in paragraph (1) 1 of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors.paragraph (1) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors. (3) The compensation shall be paid without undue delay, shall include interest at a commercially reasonable normal market rate from the date the measures were taken to the date of payment and shall be freely transferable between the territories of the Contracting Parties. The compensation shall be payable either in the currency in which the investment or investments were was originally made or, if requested by the nationalinvestor, in a any other freely convertible currency. (4) An investor whose investment is expropriated may, under the law of the Contracting Party making the expropriation, seek review of the expropriation measures by a judicial or other independent authority of that party, as appropriate. The Contracting Party making the expropriation shall make every endeavour to ensure that such review is carried out promptly. (5) Where a Contracting Party expropriates a company, investments in a company or the assets of a company, which is incorporated or constituted under the law in force in any part of its own territory, and in which investors of the other Contracting Party own shares, it shall ensure that the provisions of this Article are applied to the extent necessary to ensure compensation in respect of their investments to such investors of the other Contracting Party who are owners of those shares.

Expropriation and Nationalisation. (1) . Neither Contracting Party shall nationalise, expropriate or subject to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as "expropriation") the investments of nationals investors of the other Contracting Party unless the following conditions are complied with: (a) The expropriation is for a public purpose related to the internal needs of that Contracting Party and under due process of law; (b) The expropriation is non-discriminatory; and (c) The expropriation is accompanied by the payment of prompt, adequate and effective compensation. (2) . The compensation referred to in paragraph (11(c) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account principles, making reference to factors such as the capital invested, depreciation, capital already repatriated, replacement value, value and currency exchange rate movements and other relevant factors.paragraph (1movements.paragraph 1(c) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account principles, making reference to factors such as the capital invested, depreciation, capital already repatriated, replacement value, value and currency exchange rate movements and other relevant factorsmovements. (3) . The compensation shall be paid without undue delay, shall include interest at a commercially reasonable rate from the date the measures were taken to the date of payment and shall be freely transferable between the territories of the Contracting Partiesparties. The compensation shall be payable either in the currency in which the investment or investments were was originally made or, if requested by the nationalinvestor, in a any other freely convertible currency.

Expropriation and Nationalisation. (1) Neither Contracting Party shall nationalise, expropriate or subject to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as "expropriation") the investments of nationals of the other Contracting Party unless the following conditions are complied with: (a) The expropriation is for a public purpose related to the internal needs of that Contracting Party and under due process of law; (b) The expropriation is non-discriminatory; and (c) The expropriation is accompanied by the payment of prompt, adequate and effective compensation. (2) The compensation referred to in paragraph (1) 1 of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account factors including the capital invested, depreciation, capital already repatriated, replacement value, value and currency exchange rate movements and other relevant factors.paragraph (1) movements.paragraph 1 of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account factors including the capital invested, depreciation, capital already repatriated, replacement value, value and currency exchange rate movements and other relevant factorsmovements. (3) The compensation shall be paid without undue delay, shall include interest at a commercially reasonable rate from the date the measures were taken to the date of payment and shall be freely transferable between the territories of the Contracting Parties. The compensation shall be payable either in the currency in which the investment or investments were was originally made or, if requested by the national, in a any other freely convertible currency.

Expropriation and Nationalisation. (1) . Neither Contracting Party shall nationalise, expropriate or subject to nationalise a covered investment either directly or indirectly through measures having effect equivalent to expropriation or nationalisation or expropriation (hereinafter referred to as "expropriation") the investments of nationals of the other Contracting Party unless the following conditions are complied with), except: (a) The expropriation is for a public purpose related to the internal needs of that Contracting Party and under due process of law;purpose;13 (b) The expropriation is in a non-discriminatorydiscriminatory manner; and13 For greater certainty, for the purposes of this Article, the term “public purpose” refers to a concept in customary international law. Domestic law may express this or a similar concept by using different terms, such as “public necessity”, “public interest” or “public use”. (c) The expropriation is accompanied by the on payment of prompt, adequate and effective compensationcompensation in accordance with paragraphs 2, 3 and 4; and (d) in accordance with due process of law. 2. Compensation shall: (2a) The compensation referred be paid without delay; (b) be equivalent to in paragraph (1) of this Article shall be computed on the basis of the fair market value of the expropriated investment immediately before the expropriation or impending took place (the date of expropriation); (c) not reflect any change in value occurring because the intended expropriation became public knowledgehad become known earlier; and (d) be fully realisable and freely transferable. 3. Where that If the fair market value cannot be readily ascertainedis denominated in a freely usable currency, the compensation paid shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account no less than the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors.paragraph (1) of this Article shall be computed fair market value on the basis date of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertainedexpropriation, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors. (3) The compensation shall be paid without undue delay, shall include plus interest at a commercially reasonable rate for that currency, accrued from the date the measures were taken to of expropriation until the date of payment. 4. If the fair market value is denominated in a currency that is not freely usable, the compensation paid, converted into the currency of payment and at the market rate of exchange prevailing on the date of payment, shall be no less than: (a) the fair market value on the date of expropriation, converted into a freely transferable between usable currency at the territories market rate of exchange prevailing on that date; plus (b) interest, at a commercially reasonable rate for that freely usable currency, accrued from the date of expropriation until the date of payment. 5. Notwithstanding paragraphs 1, 2, 3 and 4, any measure of expropriation relating to land, which shall be as defined in the existing domestic legislation of the Contracting Parties. The compensation expropriating Party on the date of entry into force of this Agreement, shall be payable either for a purpose and upon payment of compensation in accordance with the aforesaid legislation and any subsequent amendments thereto relating to the amount of compensation where such amendments follow the general trends in the currency market value of the land. 6. This Article shall not apply to the issuance of compulsory licences granted in which relation to intellectual property rights in accordance with the investment TRIPS Agreement, or investments were originally made to the revocation, limitation or creation of intellectual property rights, to the extent that the issuance, revocation, limitation or creation is consistent with the TRIPS Agreement.14 7. For greater certainty, a Party’s decision not to issue, renew or maintain a subsidy or grant, or decision to modify or reduce a subsidy or grant, (a) in the absence of any specific commitment under law or contract to issue, renew or maintain that subsidy or grant; or (b) in accordance with any terms or conditions attached to the issuance, if requested by the nationalrenewal, in a freely convertible currencymodification, reduction and maintenance of that subsidy or grant; standing alone, does not constitute an expropriation.

Expropriation and Nationalisation. (1) . Neither Contracting Party shall nationalise, expropriate or subject to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as "expropriation") the investments of nationals investors of the other Contracting Party unless the following conditions are complied with: (a) The expropriation is for a public purpose related to the internal needs of that Contracting Party and under due process of law; (b) The expropriation is non-discriminatory; and (c) The expropriation is accompanied by the payment of prompt, adequate and effective compensation. (2) . The compensation referred to in paragraph (11(c) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors.paragraph (11(c) of this Article shall be computed on the basis of the market value of the investment immediately before the expropriation or impending expropriation became public knowledge. Where that value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognised principles of valuation and equitable principles taking into account the capital invested, depreciation, capital already repatriated, replacement value, currency exchange rate movements and other relevant factors. (3) . The compensation shall be paid without undue delay, shall include interest at a commercially reasonable rate rate, such as the LIBOR rate, from the date the measures were taken to the date of payment and shall be freely transferable between the territories of the Contracting Parties. The compensation shall be payable either in the currency in which the investment or investments were was originally made or, if requested by the nationalinvestor, in a any other freely convertible currency.