Common use of RIGHT OF ESTABLISHMENT Clause in Contracts

RIGHT OF ESTABLISHMENT. A Party shall allow an investor from another Party, to establish in its territory a financial institution through any method of establishment and operation permitted by its legislation at the time it is established, without imposing numerical restrictions or specific types of legal requirements. This obligation against the imposition of requirements to adopt a specific legal code does not prevent a Party from imposing conditions or requirements relating to the establishment of a particular kind of entity chosen by an investor from another Party. For greater certainty, a Party shall allow an investor from another Party which controls or is the owner of a financial institution in the territory of the Party, to establish additional financial institutions necessary for the supply of the full range of financial services in accordance with the legislation of the Party at the moment the additional financial institutions are established. Subject to the provisions of Article 11.3, a Party may impose, at the time a financial institution is established, terms and conditions pertaining to the establishment of additional financial institutions and determining the institutional and legal form that shall be used for the supply of specific financial services or to carry out specific activities. The right to establishment, in accordance with paragraphs 1 and 2 shall include the acquisition of existing entities. Subject to the provisions of Article 11.3, a Party may prohibit the use of a specific financial service or particular activity. Said prohibition shall not apply to all the financial services of an entire subsector of financial services, such as banking activities. For the purposes of this Article, "numerical restrictions" refers to limits imposed, whether on the basis of a regional subdivision or over the whole territory of a Party, in a number of financial institutions, whether it be in the form of numerical quotes, monopolies, exclusive service providers or through demanding a test of economic necessities.

RIGHT OF ESTABLISHMENT. 1. A Party shall allow permit an investor from another Party, of the other Party to establish in its territory a financial institution through any method of the modes of establishment and operation permitted by that its legislation law permits at the time it is establishedof establishment, without imposing the imposition of numerical restrictions or requirements of specific types of legal requirementsform. This The obligation against the imposition of requirements not to impose a requirement to adopt a specific legal code form does not prevent preclude a Party from imposing conditions a condition or requirements relating to requirement in connection with the establishment of a particular kind type of entity chosen by an investor from another of the other Party. 2. For greater certainty, a Party shall allow permit an investor from another of the other Party which that owns or controls or is the owner of a financial institution in the Party's territory of the Party, to establish such additional financial institutions as may be necessary for the supply of to enable the full range of financial services in accordance with permitted under the legislation Party's domestic law to be provided at the time of the Party at the moment establishment of the additional financial institutions are establishedinstitutions. Subject to the provisions of Article 11.3, a Party may impose, at the time impose a financial institution is established, terms and conditions pertaining to term or condition on the establishment of additional financial institutions and determining determine the institutional and legal form that shall to be used for the supply of specific a specified financial services service or to carry out specific activitiesthe conduct of a specified activity. 3. The right to establishment, in accordance with of establishment under paragraphs 1 and 2 shall include the acquisition of an existing entitiesentity. 4. Subject to the provisions of Article 11.3, a Party may prohibit the use of a specific particular financial service or particular activity. Said Such prohibition shall may not apply to all the entire financial services of sector or to an entire subsector of financial services, such as the banking activitiessubsector. 5. For the purposes of this Article, "without prejudice to other forms of prudential regulation, a Party may require that an investor of the other Party be engaged in the business of supplying financial services in the territory of that other Party, where so provided in applicable law. 6. For purposes of this Article, numerical restrictions" refers to limits imposed, whether restrictions means limitations imposed on the basis of a regional subdivision or over the whole territory of a Party, in a number of financial institutions, institutions whether it be in the form of a numerical quotesquota, monopoliesa monopoly, an exclusive service providers supplier, or through demanding a test the requirements of an economic necessitiesneeds test.

RIGHT OF ESTABLISHMENT. 1. A Party shall allow permit an investor from another Party, to establish in its territory of the other Party that does not own or control a financial institution through any method in the Party's territory to establish a financial institution permitted to supply financial services that such an institution may supply under the domestic law of establishment and operation permitted by its legislation the Party at the time it is establishedof establishment, without imposing the imposition of numerical restrictions or specific types of legal requirements. This obligation against the imposition of requirements to adopt take a specific legal code juridical form. The obligation not to impose requirements to take a specific juridical form does not prevent a Party from imposing conditions or requirements relating to in connection with the establishment of a particular kind type of entity chosen by an investor from another of the other Party. 2. For greater certainty, a A Party shall allow permit an investor from another of the other Party which that owns or controls or is the owner of a financial institution in the Party's territory of the Party, to establish such additional financial institutions as may be necessary for the supply of the full range of financial services in accordance with allowed under the legislation domestic law of the Party at the moment time of establishment of the additional financial institutions are establishedinstitutions. Subject to the provisions of Article 11.31102, a Party may impose, at the time a financial institution is established, impose terms and conditions pertaining to on the establishment of additional financial institutions and determining determine the institutional and legal juridical form that shall be used for the supply of specific specified financial services or to carry the carrying out specific of specified activities. 3. The right to establishment, in accordance with of establishment under paragraphs 1 and 2 shall include the acquisition of existing entities. 4. Subject to Article 1102, a Party may, in exceptional circumstances, prohibit a particular financial service or activity. Such a prohibition may not apply to all financial services or to a complete financial services sub-sector such as banking. 5. For the provisions purpose of Article 11.3this Article, without prejudice to other forms of prudential regulation, a Party may prohibit require that an investor of the use other Party be engaged in the business of a specific financial service or particular activity. Said prohibition shall not apply to all the providing financial services in the territory of an entire subsector of financial services, such as banking activitiesthat Party. 6. For the purposes purpose of this Article, "numerical restrictions" refers to limits means limitations imposed, whether either on the basis of a regional subdivision or over on the whole basis of the entire territory of a Party, in a on the number of financial institutions, institutions whether it be in the form of numerical quotesquotas, monopolies, exclusive service providers suppliers or through demanding a test the requirements of an economic necessitiesneeds test.