Regulatory Convergence Sample Clauses
The Regulatory Convergence clause establishes a framework for aligning the parties' practices, products, or services with evolving regulatory standards across different jurisdictions. In practice, this clause may require both parties to monitor changes in relevant laws and regulations, share information about compliance requirements, and adjust their operations or contractual obligations to maintain conformity. Its core function is to minimize legal and operational risks by ensuring that both parties remain compliant as regulations change, thereby facilitating smoother cross-border or multi-jurisdictional cooperation.
Regulatory Convergence. 1. The Parties recognise that the World Forum for Harmonisation of Vehicle Regulations (hereinafter referred to as the “WP.29”), within the framework of the United Nations Economic Commission for Europe (hereinafter referred to as the “UN ECE”), is the relevant international standard-setting body for the products covered by this Annex.
2. The Parties agree to participate actively in the development of regulations in WP.29 and shall co-operate for the adoption, without undue delay, of new regulations by WP.29.
Regulatory Convergence. 1. The Parties recognise that the World Forum for Harmonisation of Vehicle Regulations (hereinafter referred to as the "WP.29"), within the framework of the United Nations Economic Commission for Europe (hereinafter referred to as the "UN ECE"), is the relevant international standard-setting body for the products covered by this Annex.
2. The Parties agree to participate actively in the development of regulations in WP.29 and shall cooperate for the adoption, without undue delay, of new regulations by WP.29.
1 The effect of any changes to Annex 2-C of the Korea-EU FTA introduced before the Korea-EU FTA ceases to apply to the United Kingdom shall apply, mutatis mutandis, to this Annex. This is without prejudice to Article 1.3 of this Agreement.
Regulatory Convergence. 1. Each Party shall refrain from introducing new domestic technical regulations diverging from the technical requirements of existing UNECE Regulations or UNECE Regulations the completion of which is imminent, in areas covered by those Regulations, unless there are substantiated reasons, based on scientific or technical information, why a specific technical requirement of a UNECE Regulation is ineffective or inappropriate for ensuring safety, or the protection of the environment or human health.
2. A Party which adopts new domestic technical regulations in accordance with paragraph 1 shall, upon request from the other Party, identify the parts of the domestic technical regulations which substantially deviate from the relevant technical requirements, markings or conformity assessment procedures of UNECE Regulations. That Party shall provide due justification as to the reasons for the deviation.
3. If a Party has adopted, in accordance with paragraph 1, and maintains domestic technical regulations that deviate from existing technical requirements, markings or conformity assessment procedures of UNECE Regulations, that Party shall review them at regular intervals, not exceeding five years, with a view to increasing their convergence with the relevant technical requirements, markings or conformity assessment procedures of UNECE Regulations. When reviewing its domestic technical regulations the Party shall consider whether the circumstances that gave rise to the deviation still exist. The outcome of those reviews, including the scientific and technical information which has been used, shall be notified to the other Party upon request.