Common Contracts
1 similar Schedule of Specific Commitments contracts
GENERAL AGREEMENT GATS/SC/33Schedule of Specific Commitments • August 23rd, 2005
Sector or subsector Limitations on market access Limitations on national treatment Additional commitments I. HORIZONTAL COMMITMENTS ALL SECTORS INCLUDED IN THIS SCHEDULE Legal Entities 3) Acquisition of shares by foreign owners giving more than one third of the voting rights of a major Finnish company or a major business undertaking (with more than 1000 employees or with a turnover exceeding 1000 million Finnish markka or with a balance sheet total exceeding1000 million Finnish markka) is subject to confirmation by the Finnish authorities; the confirmation may be denied only if an important national interest would be jeopardized. At least half of the ordinary and deputy members of the Board of Directors have to be citizens of Finland and resident in Finland. The Managing Director of a limited company has to be a Finnish citizen and resident in Finland. Company exemptions may, however, be granted. Legal Entities 3) A foreigner carrying on a trade as a private entrepreneur or as a part
