Common use of Investment Disputes In Financial Services Clause in Contracts

Investment Disputes In Financial Services. 1. Where an investor of a Party submits a claim under Section C in Chapter 10 (Investment) against the other Party and the respondent invokes Article 10.12 or 12.6, on request of the respondent, the tribunal shall refer the matter in writing to the Financial Services Committee for a decision. The tribunal may not proceed pending receipt of a decision or report under this Article. 2. In a referral pursuant to paragraph 1, the Financial Services Committee shall decide the issue of whether and to what extent Article 10.12 or 12.6 is a valid defence to the claim of the investor. The Financial Services Committee shall transmit a copy of its decision to the tribunal. The decision shall be binding on the tribunal. 3. Where the Financial Services Committee has not decided the issue within sixty (60) days of the receipt of the referral under paragraph 1, the respondent or the Party of the claimant may request the establishment of a panel under relevant Articles in Chapter 20 (Dispute Settlement). The panel shall be constituted in accordance with Article 12.

Investment Disputes In Financial Services. 1. Where an investor of a one Party submits a claim under Article 10.15 (Submission of a Claim to Arbitration) to arbitration under Section C in B of Chapter 10 Ten (Investment) against the other Party and the respondent invokes Article 10.12 or 12.612.10, on request of the respondent, the tribunal shall refer the matter in writing to the Financial Services Committee for a decision. The tribunal may not proceed pending receipt of a decision or report under this Article. 2. In a referral pursuant to paragraph 1, the Financial Services Committee shall decide the issue of whether and to what extent Article 10.12 or 12.6 12.10 is a valid defence defense to the claim of the investor. The Financial Services Committee shall transmit a copy of its decision to the tribunaltribunal and to the Commission. The decision shall be binding on the tribunal. 3. Where the Financial Services Committee has not decided the issue within sixty (60) 60 days of the receipt of the referral under paragraph 1, the respondent or the Party of the claimant may request the establishment of a an arbitral panel under relevant Articles in Chapter 20 Article 22.6 (Dispute SettlementRequest for an Arbitral Panel). The panel shall be constituted in accordance with Article 12.12.17. Further to Article

Investment Disputes In Financial Services. 1. Where an investor of a Party submits a claim under Section C in Chapter 10 (Investment) against the other Party and the respondent invokes Article 10.12 or 12.6, on request of the respondent, the tribunal shall refer the matter in writing to the Financial Services Committee for a decision. The tribunal may not proceed pending receipt of a decision or report under this Article. 2. In a referral pursuant to paragraph 1, the Financial Services Committee shall decide the issue of whether and to what extent Article 10.12 or 12.6 is a valid defence to the claim of the investor. The Financial Services Committee shall transmit a copy of its decision to the tribunal. The decision shall be binding on the tribunal. . 3. Where the Financial Services Committee has not decided the issue within sixty (60) days of the receipt of the referral under paragraph 1, the respondent or the Party of the claimant may request the establishment of a panel under relevant Articles in Chapter 20 (Dispute Settlement). The panel shall be constituted in accordance with Article 12.