1490

II SÉRIE — NÚMERO 80

Resolução

Aprovação, para ratificação, da Convenção Constitutiva da Agência Multilateral de Garantia dos Investimentos (MIGA)

A Assembleia da República resolve, nos termos do artigo 164.*, alínea 0, e n.B 4 do artigo 169.* da Constituição, o seguinte:

É aprovada, para ratificação, a Convenção que cria a Agencia Multilateral de Garantia dos Investimentos (MIGA), cujo texto original cm inglês c a respectiva tradução para português seguem em anexo.

Aprovada cm 20 de maio de 1988.

O Presidente da Assembleia da República, Vítor Pereira Crespo.

CONVENTION ESTABLISHING THE MULTILATERAL INVESTMENT GUARANTEE AGENCY

Preamble The contracting States:

Considering the need to strengthen international cooperation for economic development and to foster the conuibution to such development of foreign investment in general and private foreign investment in particular.

Recognizing that the flow of foreign investment to developing countries would be facilitated and further encouraged by alleviating concerns related to non-commercial risks;

Desiring to enhance the flow to developing countries of capiml and technology for productive purposes under conditions consistent with their development needs, policies and objectives, on the basis of fair and stable standards for the treatment of foreign investment;

Convinced that the Multilateral Investment Guarantee Agency can play an important role in the encouragement of foreign investment complementing national and regional investment guarantee programs and private insurers of noncommercial risk; and

Realizing that such Agency should, to the extent possible, meet its obligations without resort to its callable capital and that such an objective would be served by continued improvement in investment conditions:

Have agreed as follows:

CHAPTER I Establishment, status, purposes and definitions

Article 1

Establishment and status of the Agency

a) There is hereby established die Multilateral Investment Guarantee Agency (hereinafter called die Agency).

b) The Agency shall possess full juridical personality and, in particular, the capacity to:

0 Contract;

it) Acquire and dispose of movable and immovable

properly; and Hi) Institute legal proceedings.

Article 2

Objccim' and purposes

The objective of the Agency shall be to encourage the flow ol invesuncnts for productive purposes among member countries, and in particular to developing member countries, thus supplementing the activities of the International Bank for Reconstruction and Development (hereinafter referred to as the Bank), the International Finance Corporation and other international development finance institutions.

To serve its objective, the Agency shall:

a) Issue guarantees, including coinsurance and reinsurance, against non-commercial risks in respect of investments in a member country which flow from other member countries;

b) Carry out appropriate complementary activities to promote the flow of invesuncnts to and among developing member countries; and

c) Exercise such other incidental powers as shall be necessary or desirable in the furtherance of its objective.

The Agency shall be guided in all its decisions by the provisions of this article.

Article 3

Definitions

For the purposes of this Convention:

a) «Mcmbcr» means a Stale wiih respect to which this Convention has entered into force in accordance with article 61;

b) «Host country» or «host government* means a member, its govcmmcnL or any public authority of a member in whose territories, as denned in article 66, an investment which has been guaranteed or reinsured, or is considered for guarantee or reinsurance, by the Agency is to be located;

c) A «dcvc!oping member country* means a member which is listed as such in schedule A hereto as this schedule may be amended from time to time by the Council of Governors referred to in article 30 (hereinafter called the Council);

d) A «spccial majority* means an affirmative vote of not less than two-thirds of the total voting power representing not less than fifty-five percent of the subscribed shares of the capital stock of the Agency;

e) A «frccly usable currency* means: i) any currency designated as such by the International Monetary Fund from time to time; and if) any other freely available and effectively usable currency which the Board of Directors referred to in article 30 (hereinafter called the Board) may designate for the purposes of this Convention after consultation with the International Monetary Fund and with the approval of the country of such currency.

CHAPTER II

Membership and capital

Article 4 Membership

in Membership in the Agency shall be open to all members of the Bank and to Switzerland.