Common Contracts
1 similar null contracts
THE SCOPE OF APPLICATION OF ARTICLE 17 OF THE ENERGY CHARTER TREATYSeptember 30th, 2008
The Energy Charter Treaty (the “ECT” or the “Treaty”) is a distinct multilateral treaty confined to the energy sector. The ECT was negotiated in a relatively short period of time - given the importance and scope of the Treaty (less than three years) - and contains, besides the provisions on trade and transit in the energy sector, modern provisions regarding protection of investments and dispute resolution settlement. Part III of the ECT on the investment promotion and protection recalls the substantive protection offered by modern bilateral and multilateral investment/trade agreements. The article examines the so-called “denial of benefits” clause under Article 17 of the ECT. The “denial of benefits” clause was inserted in investment treaties for at least two purposes: to maintain reciprocity or asymmetry with regard to the benefits arising out of the protection offered by investment treaties; and to exclude from the protection of the treaties the so called “shell companies”. The first
