Inkrafttreten und Dauer. (1) Dieses Abkommen bedarf der Ratifikation und tritt am ersten Tag des dritten Monats in Kraft, der auf den Monat folgt, in welchem die Ratifikationsurkunden ausgetauscht worden sind. (2) Dieses Abkommen bleibt für einen Zeitraum von zehn Jahren in Kraft; danach wird es auf unbestimmte Zeit verlängert und kann von jeder Vertragspartei unter Einhaltung einer Kündigungsfrist von zwölf Monaten schriftlich auf diplomatischem Wege gekündigt werden. (3) Für Investitionen, die vor dem Zeitpunkt des Außerkrafttretens dieses Abkommens getätigt worden sind, gelten die Bestimmungen der Artikel 1 bis 12 dieses Abkommens noch für einen weiteren Zeitraum von zehn Jahren vom Zeitpunkt des Außerkrafttretens des Abkommens an. GESCHEHEN zu Wien, am 8. November 1999, in zwei Urschriften, in deutscher Sprache, Hindi und englischer Sprache, wobei jeder Text gleichermaßen authentisch ist. Im Falle unterschiedlicher Auslegung geht der englische Text vor. Für die Regierung der Republik Österreich: 96 der Beilagen 7 8 96 der Beilagen 96 der Beilagen 9 10 96 der Beilagen 96 der Beilagen 11 12 96 der Beilagen 96 der Beilagen 13 14 96 der Beilagen 96 der Beilagen 15 16 96 der Beilagen 96 der Beilagen 17 18 96 der Beilagen 96 der Beilagen 19 20 96 der Beilagen 96 der Beilagen 21 THE GOVERNMENT OF THE REPUBLIC OF AUSTRIA AND THE GOVERNMENT OF THE REPUBLIC OF INDIA hereinafter referred to as ”Contracting Parties”, DESIRING to create favourable conditions for greater economic co-operation between the Contracting Parties, RECOGNIZING that the promotion and protection of investments may stimulate such investments and hereby make an important contribution to the development of economic relations, HAVE AGREED AS FOLLOWS: For the purposes of this Agreement (1) the term ”investor” means in respect of each Contracting Party (a) any natural person who is a citizen of either Contracting Party in accordance with its laws in force; (b) any juridical person, partnership or any other entity constituted or incorporated in accordance with the laws in force of either Contracting Party; (c) any juridical person, partnership or any other entity constituted or incorporated under the laws of a third State, which is controlled by investors referred to in (a) or (b), meaning that these investors have the ability to exercise decisive influence over the management and operation of the firstmentioned entity, demonstrated specifically by way of: (i) ownership of at least 51% of shares or voting rights, or (ii) the ability to exercise decisive control over the composition of the Board of Directors making or having made an investment in the territory of the other Contracting Party. (2) the term ”investment” shall mean every kind of asset established or acquired by an investor of one Contracting Party in the territory of the other Contracting Party in accordance with its laws and regulations and comprises in particular, though not exclusively: (a) movable and immovable property as well as any other rights in rem such as mortgages, liens, pledges and similar rights; (b) shares and any other type of participation in companies or other business enterprises; (c) claims to money that has been given in order to create a financial value or claims to any performance having a financial value; (d) intellectual property rights such as copyrights, trademarks, patents, industrial designs and technical processes, know-how, trade secrets, trade names and goodwill in accordance with the relevant laws of the respective Contracting Party; (e) business concessions conferred by law or under contract, including concessions to search for and extract oil and other minerals. (3) the term ”returns” means the amounts yielded by an investment, and in particular, though not exclusively, profits, interest, capital gains, dividends, royalties, licence and other fees. (4) the term ”territory” means (a) in respect of the Republic of Austria: the territory of the Republic of Austria; (b) in respect of the Republic of India: the territory of the Republic of India including its territorial waters and the airspace above it and other maritime zones including the Exclusive Economic Zone and continental shelf over which the Republic of India has sovereignty, sovereign rights or exclusive jurisdiction in accordance with its laws in force, the 1982 United Nations Convention on the Law of the Sea and International Law. (5) the term ”expropriation” also comprises the nationalization or any other measure having equivalent effect. 22 96 der Beilagen (1) Each Contracting Party shall in its territory promote, as far as possible, investments of investors of the other Contracting Party, admit such investments in accordance with its legislation and in any case accord such investments fair and equitable treatment. (2) Investments admitted according to Article 1 paragraph (1) of this Agreement and their returns shall enjoy the full protection of the present Agreement. The same applies without prejudice to the regulations of paragraph (1) also for their returns in case of reinvestment of such returns. Any change of the form in which assets are invested or reinvested including extension, alteration or transformation, made in accordance with the legislation of the host Contracting Party, shall not affect their character as investment. (1) Each Contracting Party shall accord to investments of investors of the other Contracting Party treatment no less favourable than that accorded to investments of its own investors or investments of investors of any third State. (2) Each Contracting Party shall accord to investors of the other Contracting Party as regards management, use, enjoyment or disposal of their investments, treatment no less favourable than that which it accords to its own investors or to investors of any third State as regards their investments, whichever is more favourable. (3) The provisions of paragraph (1) shall not be construed as to oblige one Contracting Party to extend to the investors of the other Contracting Party and their investments the present or future benefit of any treatment, preference or privilege resulting from (a) any present or future customs union, common market, free trade area or membership in an economic community or a similar international agreement; (b) any matter, including international agreements, pertaining wholly or mainly to taxation. (1) Investments of investors of either Contracting Party shall not be expropriated in the territory of the other Contracting Party except for a public purpose on a non-discriminatory basis in accordance with the law and against compensation. (2) Such compensation shall be equivalent to the fair market-value of the investment, immediately prior to or at the time when the decision for expropriation was announced or became publicly known, whichever is the earlier, and be determined in accordance with generally recognized principles of valuation. The compensation shall be paid without undue delay and shall include interest at a commercial rate established on a market basis from the date of the actual expropriation until the date of payment. The amount of compensation shall be effectively realisable, freely convertible and allowed to be freely transferred. (3) Where a Contracting Party expropriates the assets of a company which is considered as a company of that Contracting Party pursuant to paragraph (2) of Article 1 of the present Agreement and in which an investor of the other Contracting Party owns shares, it shall apply the provisions of paragraph (1) so as to ensure due compensation to the investor. (4) The investor shall be entitled to have the legality of the expropriation reviewed by the competent authorities of the Contracting Party having induced the expropriation. (5) The investor affected shall have, without prejudice to the provisions of Article 9 of this Agreement, the right, under the law of the Contracting Party making the expropriation, to review, by judicial or other independent authority of that Party, of the valuation of his or its investment and the provisions of payment of compensation in accordance with the principles set out in this Article. The Contracting Party making the expropriation shall make every endeavour to ensure that such a review is carried out promptly. 96 der Beilagen 23 (1) When investments made by investors of either Contracting Party suffer damage or loss owing to war or other armed conflict, a state of national emergency, revolt, civil disturbances, insurrection, riot or other similar events in the territory of the other Contracting Party, they shall be accorded by the latter Contracting Party, treatment, as regards restitution, indemnification, compensation or other settlement, no less favourable than that which the latter Contracting Party accords to its own investors or investors of any third State, whichever is more favourable. (2) Without prejudice to paragraph (1), investors of one Contracting Party who in any of the events referred to in that paragraph suffer damage or loss in the territory of the other Contracting Party resulting from (a) requisitioning of their property or part thereof by the forces or authorities of the latter Contracting Party, or (b) destruction of their property or part thereof by the forces or authorities of the latter Contracting Party which was not caused in combat action or was not required by the necessity of the situation, shall be accorded restitution or adequate compensation. Resulting payments shall be effectively realisable, freely convertible and freely transferable. (1) Each Contracting Party shall ensure and permit investors of the other Contracting Party, free transfer of payments in connection with an investment. Such payments shall be made without undue delay, in freely convertible currency and shall include in particular but not exclusively: (a) the capital and additional amounts for the maintenance or expansion of the investment; (b) amounts assigned to cover expenses relating to the management of the investment; (c) the returns; (d) the repayment of loans; (e) the proceeds from total or partial liquidation or sale of the investment; (f) compensation according to Articles 4 and 5 of the present Agreement; (g) payments arising out of the settlement of a dispute. (2) The transfers referred to in this Article shall be effected at the rates of exchange quoted on the foreign exchange market on the day of the transfer of payments in the territory of the Contracting Party from which the transfer is made. (3) A transfer shall be deemed to have been made without undue delay if effected within such period as is normally required for the completion of transfer formalities. The period shall commence on the day on which the relevant request has been made, with full documentation and information, and may on no account exceed three months.
Appears in 1 contract
Samples: Abkommen Über Die Förderung Und Den Schutz Von Investitionen
Inkrafttreten und Dauer. (1) Dieses Die Vertragsparteien notifizieren einander auf diplomatischem Wege, sobald die auf Grund der nationalen Rechtsvorschriften geltenden Voraussetzungen für das Inkrafttreten dieses Abkommens erfüllt sind. Das Abkommen bedarf der Ratifikation und tritt am ersten Tag des dritten Monats in KraftMonats, der auf den Monat Zeitpunkt des Erhalts der späteren Notifikation folgt, in welchem die Ratifikationsurkunden ausgetauscht worden sindKraft.
(2) Dieses Abkommen bleibt für einen Zeitraum von zehn (10) Jahren in Kraft; danach wird es auf unbestimmte Zeit verlängert und kann für einen ebenso langen Zeitraum bzw. Zeiträume verlängert, sofern es nicht von jeder einer Vertragspartei unter Einhaltung einer Kündigungsfrist von zwölf Monaten mindestens ein Jahr vor Ablauf schriftlich auf diplomatischem Wege gekündigt werdenwird.
(3) Für Investitionen, die vor dem Zeitpunkt des Außerkrafttretens dieses Abkommens getätigt worden sind, gelten die Bestimmungen der Artikel 1 bis 12 dieses Abkommens noch für einen weiteren Zeitraum von zehn zwanzig (20) Jahren vom Zeitpunkt des Außerkrafttretens des Abkommens an. GESCHEHEN zu WienMaskat, am 81. November 1999April 2001, in zwei Urschriften, in deutscher Sprachedeutscher, Hindi arabischer und englischer Sprache, wobei jeder Text gleichermaßen authentisch ist. Im Falle unterschiedlicher Auslegung geht der englische Text vor. Für die Regierung der Republik Österreichdes Sultanats Oman: 96 Xxxxx xxx Xxxxxxxxx Xxxxx Minister für Wirtschaftsangelegenheiten 599 der Beilagen 7 8 96 599 der Beilagen 96 599 der Beilagen 9 10 96 599 der Beilagen 96 599 der Beilagen 11 12 96 599 der Beilagen 96 599 der Beilagen 13 14 96 599 der Beilagen 96 599 der Beilagen 15 16 96 599 der Beilagen 96 599 der Beilagen 17 18 96 599 der Beilagen 96 599 der Beilagen 19 20 96 der Beilagen 96 der Beilagen 21 THE GOVERNMENT OF THE REPUBLIC OF AUSTRIA AND THE GOVERNMENT OF THE REPUBLIC OF INDIA The Government of the Republic of Austria and the Government of the Sultanate of Oman hereinafter referred to as ”“Contracting Parties”, DESIRING to create favourable conditions for greater economic co-operation between the Contracting Partiestheir two countries, RECOGNIZING that the promotion and reciprocal protection of investments may stimulate strenghten the readiness for such investments and hereby make an important contribution to the development of economic relations, HAVE AGREED AS FOLLOWS: For the purposes of this Agreement:
(1) the term ”investor” means in respect “investor of each a Contracting Party” means:
(a) any a natural person who is having the nationality of a citizen of either Contracting Party in accordance with its laws in force;applicable law; or
(b) any juridical person, partnership legal person or any other entity constituted or incorporated organized in the territory of one Contracting Party in accordance with the applicable laws in force of either that Contracting Party;
(c) any juridical person, partnership or any other entity constituted or incorporated under the laws of a third State, which is controlled by investors referred to in (a) or (b), meaning that these investors have the ability to exercise decisive influence over the management and operation of the firstmentioned entity, demonstrated specifically by way of:
(i) ownership of at least 51% of shares or voting rights, or
(ii) the ability to exercise decisive control over the composition of the Board of Directors ; making or having made an investment in the territory other Contracting Party’s territory.
(2) “investment” means every kind of asset effected as investment, directly or indirectly, by an investor of the other Contracting Party.
(2) the term ”investment” , and shall mean every kind of asset established or acquired by an investor of one Contracting Party in the territory of the other Contracting Party in accordance with its laws and regulations and comprises include in particular, though not exclusively:
(a) movable shares, stocks and immovable property as well as any other forms of equity participation in an enterprise, and rights in rem such as mortgages, liens, pledges and similar rightsderived therefrom;
(b) shares bonds, debentures, loans and any other type forms of participation in companies or other business enterprisesdebt and rights derived therefrom;
(c) claims to money that has been given in order to create a financial value rights under contracts, including turnkey, construction, management, production or claims to any performance having a financial valuerevenue- sharing contracts;
(d) claims to money and claims to performance pursuant to a contract having an economic value;
(e) intellectual property rights such as copyrightsdefined in the multilateral agreements concluded under the auspices of the World Intellectual Property Organisation, including industrial property rights, copyright, trademarks, patents, industrial designs and technical processes, know-how, trade secrets, trade names and goodwill in accordance with the relevant laws of the respective Contracting Partygoodwill;
(ef) business concessions rights conferred by law or under contractcontract such as concessions, including concessions licenses, authorizations or permits to search for and extract oil and other minerals.
(3) the term ”returns” means the amounts yielded by undertake an investment, and in particular, though not exclusively, profits, interest, capital gains, dividends, royalties, licence and other fees.
(4) the term ”territory” means
(a) in respect of the Republic of Austria: the territory of the Republic of Austriaeconomic activity;
(bg) in respect of the Republic of India: the territory of the Republic of India including its territorial waters and the airspace above it and any other maritime zones including the Exclusive Economic Zone and continental shelf over which the Republic of India has sovereigntytangible or intangible, sovereign rights movable or exclusive jurisdiction in accordance with its laws in forceimmovable property, the 1982 United Nations Convention on the Law of the Sea and International Law.
(5) the term ”expropriation” also comprises the nationalization or any other measure having equivalent effect. 22 96 der Beilagen
(1) Each Contracting Party shall in its territory promoterelated property rights, such as far as possibleleases, investments of investors of the other Contracting Partymortgages, admit such investments in accordance with its legislation and in any case accord such investments fair and equitable treatment.
(2) Investments admitted according to Article 1 paragraph (1) of this Agreement and their returns shall enjoy the full protection of the present Agreement. The same applies without prejudice to the regulations of paragraph (1) also for their returns in case of reinvestment of such returnsliens, pledges. Any change alteration of the form in which assets are invested or reinvested including extension, alteration or transformation, made in accordance with the legislation of the host Contracting Party, shall not affect their character as investmentan investment provided that such alteration is in accordance with the laws and regulations of the Contracting Party in whose territory the investment was made.
(3) “returns” means the amounts yielded by an investment and, in particular, profits, interests, capital gains, dividends, royalties, licence fees and other fees.
(4) “without delay” means such period as is normally required for the completion of necessary formalities for the payments of compensation or for the transfer of payments. This period shall commence for payments of compensation on the day of expropriation and for transfers of payments on the day on which the request for transfer has been submitted. It shall in no case exceed one month.
(5) “territory” means with respect to each Contracting Party the land territory, internal waters, maritime and air space under its sovereignty, including the exclusive economic zone and the continental shelf where the Contracting Party exercises, in conformity with international law, sovereign rights and jurisdiction. 20 599 der Beilagen
(1) Each Contracting Party shall, according to its laws and regulations, promote and admit investments by investors of the other Contracting Party.
(2) Each Contracting Party shall accord to investments of by investors of the other Contracting Party and their returns fair and equitable treatment no less favourable than that accorded to investments of and full and constant protection and security in its own investors or investments of investors of any third Stateterritory.
(23) A Contracting Party shall not impair by unreasonable or discriminatory measures the management, operation, maintenance, use, enjoyment, sale and liquidation of an investment by investors of the other Contracting Party.
(4) Each Contracting Party shall accord to investors of the other Contracting Party as regards management, use, enjoyment or disposal of and to their investments, investments treatment no less favourable than that which it accords to its own investors and their investments or to investors of any third State as regards state and their investmentsinvestments with respect to the management, operation, maintenance, use, enjoyment, sale and liquidation of an investment, whichever is more favourablefavourable to the investor.
(35) The provisions No provision of paragraph (1) this Agreement shall not be construed as to oblige one a Contracting Party to extend to the investors of the other Contracting Party and to their investments the present or future benefit of any treatment, preference or privilege resulting from:
(a) any present or future membership in a free trade area, customs union, common market, free trade area or membership in an economic community or a similar international agreementany multilateral agreement on investment;
(b) any matterinternational agreement, including international agreements, pertaining wholly or mainly to arrangement and domestic legislation regarding taxation.
(1) Each Contracting Party shall make publicly available and allow access to its laws, regulations, procedures as well as international agreements which may affect the operation of this Agreement.
(2) Each Contracting Party shall respond to specific questions and provide, upon request, information to the other Contracting Party on matters referred to in paragraph (1).
(1) Investments of by investors of either Contracting Party shall not be nationalized, expropriated or subjected to measures having effect equivalent to nationalization or expropriation (hereinafter referred to as “expropriation”) in the territory of the other Contracting Party except for a public purpose on a non-non- discriminatory basis in accordance with the due process of law and against prompt, adequate and effective compensation.
(2) Such compensation shall Compensation shall:
(a) be paid without delay,
(b) be equivalent to the fair market-market value of the investment, expropriated investment immediately prior to before the expropriation occured or at the time when the decision for expropriation was announced or became become publicly known, whichever is happened earlier. Where the earliermarket value cannot be readily ascertained, and the compensation shall be determined in accordance with the generally recognized principles of valuation. The compensation shall valuation and on equitable principles taking into account, inter alia, the capital invested, depreciation, current returns, capital already repatriated, replacement value, goodwill and other relevant factors.
(c) be paid without undue delay and shall made freely transferable in the currency of the country of which the claimants are nationals or in any freely convertible currency agreed upon by both parties,
(d) include interest at a commercial rate established on a market basis for the currency of payment from the date of the actual expropriation until the date of actual payment. The amount of compensation shall be effectively realisable, freely convertible and allowed to be freely transferred.
(3) Where An investor of a Contracting Party expropriates the assets of a company which is considered as a company of that Contracting Party pursuant claims to paragraph (2) of Article 1 of the present Agreement and in which an investor of be affected by expropriation by the other Contracting Party owns shares, it shall apply the provisions of paragraph
(1) so as to ensure due compensation to the investor.
(4) The investor shall be entitled to have the legality prompt review of the expropriation reviewed by the competent authorities of the Contracting Party having induced the expropriation.
(5) The investor affected shall have, without prejudice its case in relation to the provisions of Article 9 of this Agreement, the right, under the law of the Contracting Party making the expropriation, to review, by judicial or other independent authority of that Party, of the valuation of his or its investment and the provisions of payment of compensation in accordance with the principles set out in provisions of this Article, by a judicial authority or another competent and independent authority of the latter Contracting Party. The Contracting Party making the expropriation shall make every endeavour to ensure that such a review is carried out promptly. 96 599 der Beilagen 2321
(1) When investments made by investors Investors of either one Contracting Party suffer damage or loss owing whose investments have sustained losses due to war or any other armed conflict, a revolution, national state of national emergency, revolt, civil disturbances, insurrection, riot emergency or other similar events in revolt or force majeure occurring on the territory of the other Contracting Party, they shall be accorded by enjoy treatment from the latter Contracting Party, treatment, as regards restitution, indemnification, compensation or other settlement, no Party that is not less favourable than that which the latter Contracting Party accords granted to its own investors or investors those of any third Statestate, whichever is more favourablefavourable to the investor concerned.
(2) Without prejudice to paragraph (1), ) of this Article investors of one a Contracting Party who in any of the events situations referred to in that paragraph suffer damage or loss losses in the territory of the other Contracting Party resulting from:
(a) requisitioning of their property investments or part thereof by the forces or authorities of the latter other Contracting Party, or
(b) destruction of their property investments or part thereof by the forces or authorities of the latter other Contracting Party Party, which was not caused in combat action or was not required by the necessity of the situation, shall in any case be accorded by the latter Contracting Party restitution or adequate compensation. Resulting payments compensation which in either case shall be effectively realisableprompt, freely convertible adequate and freely transferableeffective and, with respect to compensation, shall be in accordance with Article 4 paragraphs (2) and (3).
(1) Each Contracting Party shall ensure and permit investors guarantee that all payments relating to an investment by an investor of the other Contracting Party, free transfer Party be freely transferred into and out of payments in connection with an investmentits territory without delay. Such payments transfers shall be made without undue delayinclude, in freely convertible currency and shall include in particular but not exclusivelyparticular:
(a) the initial capital and additional amounts for the maintenance to maintain or expansion of the increase an investment;
(b) amounts assigned to cover expenses relating to the management of the investmentreturns;
(c) the returnspayments made under a contract including a loan agreement;
(d) proceeds from the repayment sale or liquidation of loansall or any part of an investment;
(e) the proceeds from total or partial liquidation or sale payments of the investmentcompensation under Articles 4 and 5;
(f) compensation according to Articles 4 and 5 of the present Agreement;
(g) payments arising out of the settlement of a dispute;
(g) earnings and other remuneration of personnel engaged from abroad in connection with an investment.
(2) The Each Contracting Party shall further guarantee that such transfers referred to be made in this Article shall be effected a freely convertible currency at the rates market rate of exchange quoted prevailing on the foreign exchange market on the day date of the transfer of payments in the territory of the Contracting Party from which the transfer is made. The bank charges shall be fair and equitable.
(3) A transfer In the absence of a market for foreign exchange, the rate to be used shall be deemed the most recent exchange rate for conversion of currencies into Special Drawing Rights.
(4) Notwithstanding paragraphs (1) to have been made without undue delay if effected within such period as is normally required for (3), a Contracting Party may prevent a transfer according to paragraph (1) (d) through the completion equitable, non-discriminatory and good faith application of transfer formalities. The period shall commence measures to insure the payment of the valid financial obligations of the investor, measures, relating to or ensuring compliance with laws and regulations on the day on which issuing, trading and dealing in securities, futures and derivatives, reports or records of transfer, or measures in connection with criminal offences and orders or judgements in administrative and adjudicatory proceedings, provided that such measures and their application shall not be used as a means of avoiding the relevant request has been made, with full documentation and information, and may on no account exceed three monthsContracting Party's commitments or obligations under this Agreement.
Appears in 1 contract
Samples: Abkommen Über Die Förderung Und Den Gegenseitigen Schutz Von Investitionen
Inkrafttreten und Dauer. (1) Dieses Abkommen bedarf der Ratifikation und tritt am ersten Tag des dritten Monats in Kraft, der auf den Monat folgt, in welchem dem sich die Ratifikationsurkunden ausgetauscht worden Vertragsparteien gegenseitig notifiziert haben, daß die jeweiligen verfassungsmäßigen Erfordernisse für das Inkrafttreten des Abkommens erfüllt sind.
(2) Dieses Das Abkommen bleibt für einen Zeitraum von zehn Jahren Jahre lang in Kraft; danach nach deren Ablauf wird es auf unbestimmte Zeit verlängert und kann von jeder Vertragspartei unter Einhaltung einer Kündigungsfrist von zwölf Monaten schriftlich auf diplomatischem Wege gekündigt werden.
(3) Für Investitionen, die vor dem Zeitpunkt des Außerkrafttretens dieses Abkommens getätigt worden sind, gelten die Bestimmungen der Artikel 1 bis 12 10 dieses Abkommens noch für einen weiteren Zeitraum von zehn Jahren vom Zeitpunkt des Außerkrafttretens des Abkommens an. GESCHEHEN zu Wien, am 822. November 1999Mai 2001, in zwei drei Urschriften, in deutscher Sprachedeutscher, Hindi mongolischer und englischer Sprache, wobei jeder Text gleichermaßen authentisch ist. Im Falle unterschiedlicher Auslegung geht der englische Text vor. Für die Regierung 6 762 der Republik Österreich: 96 Beilagen 762 der Beilagen 7 8 96 762 der Beilagen 96 762 der Beilagen 9 10 96 762 der Beilagen 96 762 der Beilagen 11 12 96 762 der Beilagen 96 762 der Beilagen 13 14 96 762 der Beilagen 96 762 der Beilagen 15 16 96 der Beilagen 96 der Beilagen 17 18 96 der Beilagen 96 der Beilagen 19 20 96 der Beilagen 96 der Beilagen 21 THE GOVERNMENT OF THE REPUBLIC OF AUSTRIA AND THE GOVERNMENT OF THE REPUBLIC OF INDIA MONGOLIA hereinafter referred to as ”“Contracting Parties”, DESIRING to create favourable conditions for greater economic co-operation between the Contracting Parties, RECOGNIZING that the promotion and protection of investments Investments may stimulate strengthen the readiness for such investments and hereby make an important contribution to the development of economic relations, HAVE AGREED AS FOLLOWS: For the purposes of this Agreement:
(1) the term ”investor” means in respect of each Contracting Party
(a) any natural person who is a citizen of either Contracting Party in accordance with its laws in force;
(b) any juridical person, partnership or any other entity constituted or incorporated in accordance with the laws in force of either Contracting Party;
(c) any juridical person, partnership or any other entity constituted or incorporated under the laws of a third State, which is controlled by investors referred to in (a) or (b), meaning that these investors have the ability to exercise decisive influence over the management and operation of the firstmentioned entity, demonstrated specifically by way of:
(i) ownership of at least 51% of shares or voting rights, or
(ii) the ability to exercise decisive control over the composition of the Board of Directors making or having made an investment in the territory of the other Contracting Party.
(2) the term ”“investment” shall mean every kind of asset established or acquired by an investor of one Contracting Party comprises all assets and, in the territory of the other Contracting Party in accordance with its laws and regulations and comprises in particular, particular though not exclusively:
(a) movable and immovable property as well as any other rights in rem such as mortgages, liens, pledges pledges, usufructs and similar rights;
(b) shares and any other type types of participation participations in companies or other business enterprisesundertakings;
(c) claims to money that has been given in order to create a financial an economic value or claims to any performance having a financial an economic value;
(d) intellectual copyrights, industrial property rights such as copyrightspatents for inventions, trademarks, patents, industrial designs and utility models, technical processes, know-how, trade secrets, trade names and goodwill in accordance with the relevant laws of the respective Contracting Partygoodwill;
(e) business concessions conferred by under public law or under contract, including concessions to search for or exploit natural resources.
(2) the term “investor” means in respect of both Contracting Parties
(a) any natural person who is a citizen of one of the Contracting Parties and extract oil makes an investment in the other Contracting Party’s territory;
(b) any juridical person or partnership, constituted in accordance with the legislation of one of the Contracting Parties, having its seat in the territory of this Contracting Party and making an investment in the other minerals.Contracting Party’s territory;
(c) any juridical person or partnership, constituted in accordance with the legislation of a Contracting Party or of a third Party in which the investor referred to in a) or b) exercises a dominant influence;
(3) the term ”“returns” means the amounts yielded by an investmentinvestment and, and in particular, particular though not exclusively, profits, interestinterests, capital gains, dividends, royalties, licence and other fees.
(4) the term ”territory” means
(a) in respect of the Republic of Austria: the territory of the Republic of Austria;
(b) in respect of the Republic of India: the territory of the Republic of India including its territorial waters and the airspace above it and other maritime zones including the Exclusive Economic Zone and continental shelf over which the Republic of India has sovereignty, sovereign rights or exclusive jurisdiction in accordance with its laws in force, the 1982 United Nations Convention on the Law of the Sea and International Law.
(5) the term ”“expropriation” also comprises the a nationalization or any other measure having equivalent effect. 22 96 der Beilagen.
(1) Each Contracting Party shall in its territory promote, as far as possible, investments of investors of the other Contracting Party, admit such investments in accordance with its legislation and in any case accord such investments fair and equitable treatment.
(2) Investments admitted according to Article 1 2 paragraph (1) of this Agreement and their returns shall enjoy the full protection of the present Agreement. The same applies without prejudice to the regulations of paragraph (1) also for their returns in case of reinvestment of such returns. Any change of the form in which assets are invested or reinvested including The legal extension, alteration or transformation, made in accordance with the legislation transformation of the host Contracting Party, shall not affect their character as an investment is considered to be a new investment.
(1) Each Contracting Party shall accord to investments of investors of the other Contracting Party treatment no less favourable than that accorded to investments of its own investors or investments of investors of any third State.
(2) Each Contracting Party shall accord to investors of the other Contracting Party as regards management, use, enjoyment or disposal of and their investments, investments treatment no less favourable than that which it accords accorded to its own investors and their investments or to investors of any third State as regards and their investments, whichever is more favourable.. 16 762 der Beilagen
(32) The provisions of paragraph (1) shall not be construed as to oblige one Contracting Party to extend to the investors of the other Contracting Party and their investments the present or future benefit of any treatment, preference or privilege resulting from
(a) any present or future customs union, common market, free trade area or membership in an economic community or a similar international agreement;community,
(b) any matterinternational agreement, including international agreements, pertaining wholly arrangement or mainly domestic legislation regarding taxation,
(c) any regulation to taxationfacilitate the frontier traffic.
(1) Investments of investors of either Contracting Party shall not be expropriated in the territory of the other Contracting Party except for a public purpose on a non-discriminatory basis in accordance with the by due process of law and against compensation.
(2) Such compensation shall be equivalent to the fair market-value of the investmentinvestment as determined in accordance with recognized principles of valuation taking into account such as inter alia the capital invested, replacement value, appreciation, current returns, goodwill and other relevant factors, immediately prior to or at the time when the decision for expropriation was announced or became publicly known, whichever is the earlier. In the event that the payment of compensation is delayed, and be determined in accordance with generally recognized principles of valuation. The such compensation shall be paid without undue delay and in an amount which would put the investor in a position not less favourable than the position in which he would have been had the compensation been paid immediately on the date of expropriation. To achieve this goal the compensation shall include interest at a the prevailing commercial rate, however, in no event less than the current LIBOR-rate established on a market basis or equivalent from the date of the actual expropriation until the date of payment. The amount of compensation finally determined shall be effectively realisable, promptly paid to the investor in freely convertible currencies and allowed to be freely transferredtransferred without delay.
(3) Where a Contracting Party expropriates the assets of a company which is considered as a company of that this Contracting Party pursuant to paragraph (2) of Article 1 of the present Agreement and in which an investor of the other Contracting Party owns shares, it shall apply the provisions of paragraph
paragraph (1) so as to ensure due compensation to the this investor.
(4) The investor shall be entitled to have the legality of the expropriation reviewed by the competent authorities of the Contracting Party having induced the expropriation.
(5) The investor affected shall have, without prejudice be entitled to have the amount and the provisions for the payment of Article 9 of this Agreement, the right, under compensation reviewed either by the law competent authorities of the Contracting Party making having induced the expropriation, expropriation or by an international arbitral tribunal according to review, by judicial or other independent authority of that Party, Article 8 of the valuation of his or its investment and the provisions of payment of compensation in accordance with the principles set out in this Article. The Contracting Party making the expropriation shall make every endeavour to ensure that such a review is carried out promptly. 96 der Beilagen 23
(1) When investments made by investors of either Contracting Party suffer damage or loss owing to war or other armed conflict, a state of national emergency, revolt, civil disturbances, insurrection, riot or other similar events in the territory of the other Contracting Party, they shall be accorded by the latter Contracting Party, treatment, as regards restitution, indemnification, compensation or other settlement, no less favourable than that which the latter Contracting Party accords to its own investors or investors of any third State, whichever is more favourable.
(2) Without prejudice to paragraph (1), investors of one Contracting Party who in any of the events referred to in that paragraph suffer damage or loss in the territory of the other Contracting Party resulting from
(a) requisitioning of their property or part thereof by the forces or authorities of the latter Contracting Party, or
(b) destruction of their property or part thereof by the forces or authorities of the latter Contracting Party which was not caused in combat action or was not required by the necessity of the situation, shall be accorded restitution or adequate compensation. Resulting payments shall be effectively realisable, freely convertible and freely transferablepresent Agreement.
(1) Each Contracting Party shall ensure and permit guarantee without undue delay to investors of the other Contracting Party, Party free transfer in freely convertible currency of payments in connection with an investment. Such payments shall be made without undue delay, in freely convertible currency and shall include in particular but not exclusively:, of
(a) the capital and additional amounts for the maintenance or expansion extension of the investment;
(b) amounts assigned to cover expenses relating to the management of the investment;
(c) the returns;
(d) the repayment of loans;
(e) the proceeds from total or partial liquidation or sale of the investment;
(f) a compensation according to Articles Article 4 and 5 paragraph (1) of the present Agreement;
(g) payments arising out of the settlement of a dispute.
(2) The transfers payments referred to in this Article shall be effected at the exchange rates of exchange quoted on the foreign exchange market prevailing on the day of the transfer of payments in the territory of the Contracting Party from which the transfer is made.
(3) A transfer The rates of exchange shall be deemed determined according to have been made without undue delay if effected within the quotations on the stock exchanges on the territory of each Contracting Party or in the absence of such period as is normally required for quotations by the completion respective banking system in the territory of transfer formalitieseach of the Contracting Parties. The period bank charges shall commence on the day on which the relevant request has been made, with full documentation be fair and information, and may on no account exceed three monthsequitable.
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Samples: Abkommen Über Die Förderung Und Den Schutz Von Investitionen