New Financial Services. Each Party shall permit a financial service supplier of the other Party to provide any new financial service of a type similar to those services that the Party would permit its own financial service suppliers to provide under its domestic law in like circumstances. A Party may determine the juridical form through which the service may be provided and may require authorisation for the provision of the service. Where such authorisation is required, a decision shall be made within a reasonable time and the authorisation may only be refused for prudential reasons.
New Financial Services. Each Party shall permit a financial institution of the other Party, on request or notification to the relevant regulator, where required, to supply any new financial service that the first Party would permit its own financial institutions, in like circumstances, to supply under its domestic law, provided that the introduction of the financial service does not require the Party to adopt a new statute or modify an existing one.
New Financial Services. 1. Each Party shall permit a financial institution of the other Party established in its territory to supply any new financial services similar to those services that a Party would permit its own financial institutions, in like circumstances, to supply under its laws and regulations.
2. A Party may however determine the institutional and juridical form through which the new financial service may be supplied and may require authorisation for the supply of the service. Where the authorisation to supply new financial services is required, a decision shall be made within a reasonable time, and the authorisation may only be refused for prudential reasons.
3. Further to paragraph 1, a financial institution of a Party may apply to the other Party to consider authorising the supply of a financial service that is not supplied in either Party's territory. Such application shall be subject to the law of the Party to which the application is made.
New Financial Services. A Member shall permit financial service suppliers of any other Member established in its territory to offer in its territory any new financial service.
New Financial Services. 12-3)
1. Each Party shall permit a financial institution of the other Party, on request or notification to the relevant regulator, where required, to supply any new financial service that the first Party would permit its own financial institutions, in like circumstances, to supply under its domestic law, provided that the introduction of the financial service does not require the Party to adopt a new law or modify an existing law.
2. Notwithstanding Article 12.5(b), a Party may determine the institutional and juridical form through which the new financial service may be supplied and may require authorisation for the supply of the service. Where a Party requires authorisation to supply a new financial service, the decision shall be made within a reasonable time and authorisation may only be refused for prudential reasons. (12-3) For greater certainty, a Party may, consistent with Article 12.3, prohibit a particular new financial service.
New Financial Services. Each Party shall permit financial service suppliers of the other Party established in the former Party to offer in the former Party any new financial service that a Party would permit its own financial service suppliers to offer, in like circumstances.
New Financial Services. 1. A Party shall permit financial service suppliers of the other Party established in its territory to offer in its territory any new financial service within the scope of the subsectors and financial services committed in its Schedule and subject to the terms, limitations, conditions and qualifications established in that Schedule and provided that the introduction of this new financial service does not require a new law or the modification of an existing law.
2. A Party may determine the legal form through which the service may be provided and may require authorisation for the provision of the financial service. Where such authorisation is required, a decision shall be taken within a reasonable period of time and the authorisation may only be refused for prudential reasons.
New Financial Services. 1. A Party shall permit financial services suppliers of the other Party established within its territory to offer in its territory any new financial service within the scope of the subsectors and financial services committed in its lists of commitments and subject to the terms, limitations, conditions and qualifications established in such lists of commitments and provided that the introduction of this new financial service does not require a new law or the modification of an existing law.
2. In accordance with paragraph 1, a Party may determine the legal form through which the service may be provided and may require authorisation for the provision of the financial service. Where such authorisation is required, a decision shall be taken within a reasonable period of time and the authorisation may only be refused for prudential reasons.
New Financial Services. Each Party shall allow a financial institution from another Party, to provide whatever new financial service whose provision the Party would allow, under similar circumstances, its own financial institutions, in accordance with its legislation, on the condition that the introduction of that financial service does not require new legislation or the modification of an existing law.0 Each Party may determine the legal and institutional form through which the new financial service shall be supplied and may subject the supply of the same to authorisation and notification. When authorisation is required, the decision shall be made within a reasonable period of time and may only be denied for prudential reasons. None of what is established in this Article prevents a financial institution from one Party from requesting that another Party authorise the supply of a financial service that is not provided in the territory of any of the Parties. Said request shall be subject to the legislation of the Party of whom the request is made and, for greater certainty, shall not be subject to the obligations of this Article.
New Financial Services. 1. The host Party shall endeavour to permit financial institutions of the other Party established in the territory of the host Party to supply a new financial service in the territory of the host Party that the host Party would permit its own financial institutions, in like circumstances, to supply without adopting a law or modifying an existing law.
2. Where an application is approved, the supply of the new financial service is subject to relevant licensing, institutional or juridical form, or other requirements of the host Party.
(4) For greater certainty, a Party may issue a new regulation or other subordinate measure in permitting the supply of the new financial service.
