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 of Chapter 15 (Investor- State Dispute Settlement) against the other Party and the respondent invokes Article 10.10, 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 10.10 is a valid defense to the claim of the investor. The Committee shall transmit a copy of its decision to the tribunal and to the Joint Committee. The decision shall be binding on the tribunal. 3. Where the Financial Services Committee has not decided the issue within 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 Article 20.4.4 (Additional Dispute Settlement Procedures). The panel shall be constituted in accordance with Article 10.18. The panel shall transmit its final report to the Committee and to the tribunal. The report shall be binding on the tribunal. 4. Where no request for the establishment of a panel pursuant to paragraph 3 has been made within 10 days of the expiration of the 60-day period referred to in paragraph 3, a tribunal may proceed to decide the matter. 5. For purposes of this Article, tribunal means a tribunal established pursuant to Section C of Chapter 15 (Investor-State Dispute Settlement).

Investment Disputes In Financial Services. 1. Where an investor of a Party submits a claim under Section C of Chapter 15 (Investor- investor- State Dispute Settlement) against the other Party and the respondent invokes Article 10.10, 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 10.10 is a valid defense to the claim of the investor. The Committee shall transmit a copy of its decision to the tribunal and to the Joint Committee. The decision shall be binding on the tribunal. 3. Where the Financial Services Committee has not decided the issue within 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 Article 20.4.4 (Additional Dispute Settlement Procedures). The panel shall be constituted in accordance with Article 10.18. The panel shall transmit its final report to the Committee and to the tribunal. The report shall be binding on the tribunal. 4. Where no request for the establishment of a panel pursuant to paragraph 3 has been made within 10 days of the expiration of the 60-day period referred to in paragraph 3, a tribunal may proceed to decide the matter. 5. For purposes of this Article, tribunal means a tribunal established pursuant to Section C of Chapter 15 (Investor-State Dispute Settlement).

Investment Disputes In Financial Services. 1. Where an investor of a Party submits a claim under Article 819 (Investment - Claim by an Investor of a Party on Its Own Behalf) or 820 (Investment - Claim by an Investor of a Party on Behalf of an Enterprise) to arbitration under Section C II of Chapter 15 Eight (Investor- State Dispute SettlementInvestment) against the other Party and the respondent invokes an exception under Article 10.101110, on request of the respondent, respondent the tribunal Tribunal shall refer the matter in writing to the Financial Services Committee for a decisiondecision in accordance with paragraph 2. The tribunal 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 10.10 1110 is a valid defense defence to the claim of the investor. The Committee shall transmit a copy of its decision to the tribunal Tribunal and to the Joint CommitteeCommission. The decision shall be binding on the tribunalTribunal. 3. Where the Financial Services Committee has not decided the issue within 60 days of the receipt of the referral under paragraph 1, the respondent or the either Party of the claimant may may, within 10 days thereafter, request the establishment of a panel under Article 20.4.4 2106 (Additional Dispute Settlement Procedures)- Establishment of a Panel) to decide the issue. The panel shall be constituted in accordance with Article 10.181116. The Further to Article 2110 (Dispute Settlement - Panel Reports), the panel shall transmit its final report to the Committee and to the tribunalTribunal. The report shall be binding on the tribunalTribunal. 4. Where no request for the establishment of a panel pursuant to paragraph 3 has been made within 10 days of after the expiration of the 60-60- day period referred to in paragraph 3, a tribunal the Tribunal may proceed to decide the matterissue. 5. For purposes of this Article, tribunal means a tribunal established pursuant to Section C of Chapter 15 (Investor-State Dispute Settlement).

Investment Disputes In Financial Services. 1. Where an investor of a Party submits a claim under Section C of Chapter 15 1 5 (Investor- State Dispute Settlement) against the other Party and the respondent invokes Article 10.10, 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 10.10 is a valid defense to the claim of the investor. The Committee shall transmit a copy of its decision to the tribunal and to the Joint Committee. The decision shall be binding on the tribunal. 3. Where the Financial Services Committee has not decided the issue within 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 Article 20.4.4 (Additional Dispute Settlement Procedures). The panel shall be constituted in accordance with Article 10.18. The panel shall transmit its final report to the Committee and to the tribunal. The report shall be binding on the tribunal. 4. Where no request for the establishment of a panel pursuant to paragraph 3 has been made within 10 days of the expiration of the 60-day period referred to in paragraph 3, a tribunal may proceed to decide the matter. 5. For purposes of this Article, tribunal means a tribunal established pursuant to Section C of Chapter 15 (Investor-State Dispute Settlement).

Investment Disputes In Financial Services. 1. Where an investor of a Party submits a claim under Section C of Chapter 15 (Investor- State InvestorState Dispute Settlement) against the other Party and the respondent invokes Article 10.10, 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 10.10 is a valid defense defence to the claim of the investor. The Committee shall transmit a copy of its decision to the tribunal and to the Joint Committee. The decision shall be binding on the tribunal. 3. Where the Financial Services Committee has not decided the issue within 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 Article 20.4.4 (Additional Dispute Settlement Procedures). The panel shall be constituted in accordance with Article 10.18. The panel shall transmit its final report to the Committee and to the tribunal. The report shall be binding on the tribunal. 4. Where no request for the establishment of a panel pursuant to paragraph 3 has been made within 10 days of the expiration of the 60-day period referred to in paragraph 3, a tribunal may proceed to decide the matter. 5. For purposes of this Article, tribunal means a tribunal established pursuant to Section C of Chapter 15 (Investor-State Dispute Settlement).