Common use of Review of Statutory Amendments Clause in Contracts

Review of Statutory Amendments. 1. A Party to which an amendment of another Party's antidumping or countervailing duty statute applies may request in writing that such amendment be referred to a binational panel for a declaratory opinion as to whether: (a) the amendment does not conform to the provisions of Article 10.10(2)(d)(i) or (ii) (Retention of Domestic Antidumping Law and Countervailing Duty Law); or (b) such amendment has the function and effect of overturning a prior decision of a panel made pursuant to Article 10.12 (Review of Final Antidumping and Countervailing Duty Determinations) and does not conform to the provisions of Article 10.10(2)(d)G@) or (ii) (Retention of Domestic Antidumping Law and Countervailing Duty Law). Such declaratory opinion shall have force or effect only as provided in this Article. 2. The panel shall conduct its review in accordance with the procedures of Annex 10-B.2 (Panel Procedures under Article 10.11). 3. In the event that the panel recommends modifications to the amending statute to remedy a non-conformity that it has identified in its opinion: (a) the two Parties shall immediately begin consultations and shall seek to achieve a mutually satisfactory solution to the matter within 90 days of the issuance of the panel's final declaratory opinion. Such solution may include seeking corrective legislation with respect to the statute of the amending Party; (b) if corrective legislation is not enacted within nine months from the end of the 90 day consultation period referred to in subparagraph (a) and no other mutually satisfactory solution has been reached, the Party that requested the panel may: (i) take comparable legislative or equivalent executive action, or (ii) terminate this Agreement with regard to the amending Party on 60 day written notice to that Party.