Common use of Prudential carve-out Clause in Contracts

Prudential carve-out. 1. Nothing in this Chapter shall be construed to prevent a Party from adopting or maintaining reasonable measures for prudential reasons, such as: (a) the protection of investors, depositors, financial market participants, policy-holders, or persons to whom a fiduciary duty is owed by a financial services supplier; (b) the maintenance of the safety, soundness, integrity or financial responsibility of financial services suppliers; and (c) ensuring the integrity and stability of a Party's financial system. 2. Where such measures do not conform with the provisions of this Chapter, they shall not be used as a means of avoiding the Party's commitments or obligations under the Chapter.

Appears in 2 contracts

Samples: Association Agreement, Association Agreement

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Prudential carve-out. 1. Nothing in this Chapter shall be construed to prevent a Party from adopting or maintaining reasonable measures for prudential reasons, such as: (a) the The protection of investors, depositors, financial market participants, policy-holders, or persons to whom a fiduciary duty is owed by a financial services service supplier; (b) the The maintenance of the safety, soundness, integrity or financial responsibility of financial services service suppliers; and (c) ensuring the integrity and stability of a Party's financial system. 2. Where such measures do not conform with the provisions of this Chapter, they shall not be used as a means of avoiding the Party's commitments or obligations under the this Chapter.

Appears in 1 contract

Samples: Free Trade Agreement

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Prudential carve-out. 1. Nothing in Notwithstanding any other provisions of this Chapter shall be construed to prevent or Chapter 12 (Investment), a Party shall not be prevented from adopting or maintaining reasonable measures for prudential reasons, such as: (a) including for the protection of investors, depositors, financial market participants, policy-policy holders, or persons to whom a fiduciary duty is owed by a financial services service supplier; (b) the maintenance of the safety, soundness, integrity or financial responsibility of financial services suppliers; and (c) ensuring to ensure the integrity and stability of a Party's the financial system. 2. Where such measures do not conform with to the provisions of this ChapterAgreement referred to in paragraph 1, they shall not be used as a means of avoiding the Party's ’s commitments or obligations under the Chaptersuch provisions.

Appears in 1 contract

Samples: Free Trade Agreement

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