Common use of Specific Exceptions Clause in Contracts

Specific Exceptions. 1. Nothing in this Chapter shall be construed as preventing a Party, including its public entities, from exclusively conducting or providing in its territory activities or services forming part of a public retirement plan or statutory system of social security, except where those activities may be carried out, as provided by the Party's domestic regulation, by financial service suppliers in competition with public entities or private institutions. 2. Nothing in this Agreement applies to activities conducted by a central bank or monetary authority or by any other public entity in pursuit of monetary or exchange rate policies. 3. Nothing in this Chapter shall be construed as preventing a Party, including its public entities, from exclusively conducting or providing in its territory activities or services for the account or with the guarantee or using the financial resources of the Party, or its public entities. Where a Party requires membership or participation in, or access to, any self-regulatory body, securities or futures exchange or market, clearing agency, or any other organisation or association, in order for financial service suppliers of the other Party to supply financial services on an equal basis with financial service suppliers of the Party, or where the Party provides, directly or indirectly, such entities with privileges or advantages in supplying financial services, the Party shall ensure compliance with the obligations specified in Articles 144 and 150. Under the terms and conditions of national treatment specified in Articles 144 and 150, each Party shall grant to financial service suppliers of the other Party established in its territory access to payment and clearing systems operated by public entities, as well as to official funding and refinancing facilities available in the normal course of ordinary business. This paragraph is not intended to confer access to the lender-of-last-resort facilities of a Party.

Specific Exceptions. 1. Nothing in this Chapter shall be construed as preventing a Party, including its public entities, from exclusively conducting or providing in its territory activities or services forming part of a public retirement plan or statutory system of social security, except where those activities may be carried out, as provided by the Party's domestic regulation, by financial service suppliers in competition with public entities or private institutions. 2. Nothing in this Agreement applies to activities conducted by a central bank or monetary authority or by any other public entity in pursuit of monetary or exchange rate policies. 3. Nothing in this Chapter shall be construed as preventing a Party, including its public entities, from exclusively conducting or providing in its territory activities or services for the account or with the guarantee or using the financial resources of the Party, or its public entities. Where a Party requires membership or participation in, or access to, any self-regulatory body, securities or futures exchange or market, clearing agency, or any other organisation or association, in order for financial service suppliers of the other Party to supply financial services on an equal basis with financial service suppliers of the Party, or where the Party provides, directly or indirectly, such entities with privileges or advantages in supplying financial services, the Party shall ensure compliance with the obligations specified in Articles 144 and 150. Under the terms and conditions of national treatment specified in Articles 144 and 150, each Party shall grant to financial service suppliers of the other Party established in its territory access to payment and clearing systems operated by public entities, as well as to official funding and refinancing facilities available in the normal course of ordinary business. This paragraph Article is not intended to confer access to the lender-of-last-resort facilities of a Party.. The Parties recognise the importance of the adequate regulation of financial services to ensure financial stability, fair and efficient markets and the protection of investors, depositors, policy-holders and persons to whom fiduciary duty is owed by financial services suppliers. For such regulation of financial services the international best-practice standards provide the overall benchmark, in particular in the way they are implemented in the European Union. In that context, the Republic of Armenia shall approximate its regulation of financial services, as appropriate, to the legislation of the European Union. This Subsection sets out the principles regarding the liberalisation of international transport services pursuant to Sections B, C and D.

Specific Exceptions. 1. Nothing in this Chapter shall be construed as preventing to prevent a Party, including its public entities, from exclusively conducting or providing in its territory activities or services forming part of a public retirement plan or statutory system of social security, except where when those activities may be carried out, as provided by the Party's domestic regulation, by financial service suppliers in competition with public entities or private institutions. 2. Nothing in this Agreement applies to activities conducted by a central bank or monetary authority or by any other public entity in pursuit of monetary or exchange rate policies. 3. Nothing in this Chapter shall be construed as preventing to prevent a Party, including its public entities, from exclusively conducting or providing in its territory activities or services for the account account, or with the guarantee guarantee, or using the financial resources resources, of the Party, Party or its public entities. Where When a Party requires membership or participation in, or access to, any self-self- regulatory body, securities or futures exchange or market, clearing agency, or any other organisation or association, in order for financial service suppliers of the other Party to supply financial services on an equal basis with financial service suppliers of the Party, or where when the Party providesprovides such entities, directly or indirectly, such entities with privileges or advantages in supplying financial services, the Party shall ensure compliance with observance of the obligations specified in Articles 144 of Article 180(1) and 150. Under the terms and conditions Article 186 of national treatment specified in Articles 144 and 150, each Party shall grant to financial service suppliers of the other Party established in its territory access to payment and clearing systems operated by public entities, as well as to official funding and refinancing facilities available in the normal course of ordinary business. This paragraph is not intended to confer access to the lender-of-last-resort facilities of a Partythis Agreement.