Common use of Latvia Clause in Contracts

Latvia. (a) Latvia may maintain in force for seven years from the date of accession the rules laid down in Law on Amendments to the Law on Privatisation of Land in Rural (in force since 14 April 2003) regarding the acquisition of agricultural land and forests by Swiss nationals and companies formed in accordance with the laws of Switzerland and being neither established nor registered nor having a local branch or agency in Latvia. In no instance may a national of Switzerland be treated less favourably in respect of the acquisition of agricultural land and forests than at the date of signature of this Protocol or be treated in a more restrictive way than a national of a third country. (b) A general review of these transitional measures shall be held before the end of the third year following the date of its accession to the EU. To this effect, the Commission shall submit a report to the Joint Committee. The Joint Committee may decide to shorten or terminate the transitional period indicated in (a). (c) If there is sufficient evidence that, upon expiry of the transitional period, there will be serious disturbances or a threat of serious disturbances on the agricultural land market of Latvia, the Joint Committee, at the request of Latvia, shall decide upon the extension of the transitional period for up to a maximum of three years.

Latvia. (a) Latvia may maintain in force for seven years from the date of accession the rules laid down in Law on Amendments to the Law on Privatisation of Land in Rural (in force since 14 April 2003) regarding the acquisition of agricultural land and forests by Swiss nationals and companies formed in accordance with the laws of Switzerland and being neither established nor registered nor having a local branch or agency in Latvia. In no instance may a national of Switzerland be treated less favourably in respect of the acquisition of agricultural land and forests than at the date of signature of this Protocol or be treated in a more restrictive way than a national of a third country. (b) A general review of these transitional measures shall be held before the end of the third year following the date of its accession to the EU. To this effect, the Commission shall submit a report to the Joint Committee. The Joint Committee may decide to shorten or terminate the transitional period indicated in (a)the paragraph 1. (c) If there is sufficient evidence that, upon expiry of the transitional period, there will be serious disturbances or a threat of serious disturbances on the agricultural land market of Latvia, the Joint Committee, at the request of Latvia, shall decide upon the extension of the transitional period for up to a maximum of three years.

Latvia. (a) Latvia may maintain in force for seven years from the date of accession the rules laid down in Law on Amendments amendments to the Law on Privatisation of Land in Rural (in force since 14 April april 2003) regarding the acquisition of agricultural land and forests by Swiss nationals and companies formed in accordance with the laws of Switzerland and being neither established nor registered nor having a local branch or agency in Latvia. In no instance may a national of Switzerland be treated less favourably in respect of the acquisition of agricultural land and forests than at the date of signature of this Protocol or be treated in a more restrictive way than a national of a third country. (b) A a general review of these transitional measures shall be held before the end of the third year following the date of its accession to the EU. To this effect, the Commission shall submit a report to the Joint Committee. The Joint Committee may decide to shorten or terminate the transitional period indicated in (a). (c) If there is sufficient evidence that, upon expiry of the transitional period, there will be serious disturbances or a threat of serious disturbances on the agricultural land market of Latvia, the Joint Committee, at the request of Latvia, shall decide upon the extension of the transitional period for up to a maximum of three years.