Debates Parlamentares - Diário 063S1, p. 31 (1996-09-27)

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27 DE SETEMBRO DE 1996

1516-(31)

until the proceedings have terminated and a Contracting Party has failed to abide by or to comply with the award rendered by the International Center for the Settlement of Investments Disputes.

4 — The award shall be enforceable on the parties and shall not be subject to any appeal or remedy other than that provided for in the said Convention. The award shall be enforceable in accordance with the domestic law of the Contracting Party in whose territory the investment in question is situated.

Article 10

Application of other rules

If the provisions of law of either Contracting Party or obligations under international law existing at present or established hereafter between the Contracting Parties in addition to this Agreement contain a regulation, whether general or specific, entitling investments made by investors of the other Contracting Party to a treatment more favourable than is provided for by this Agreement, such provisions shall, to the extent that they are more favourable, prevail over this Agreement.

Article 11 Application of the Agreement

This Agreement shall apply to all investments, made by investors from one of the Contracting Parties in the territory of the other Contracting Party in accordance with the respective legal provisions, prior to as well as after its entry into force, but shall not apply to any dispute concerning investments which have arisen before its entry into force.

Article 12

Consultations and exchange of information

Representatives of the Contracting Parties shall, whenever necessary, hold consultations on any matter affecting the implementation of this Agreement. These consultations shall be held on the proposal of one of the Contracting Parties at a place and a time to be agreed upon through diplomatic channels. Upon request by either Contracting Party, information shall be exchanged on the impact of the laws, regulations, decisions, administrative practices or procedures or policies that the other Contracting Party may have on investments covered by this Agreement.

Article 13

Entry into force and duration

1 — This Agreement shall enter into force 30 days after the Contracting Parties notify each other in writing that their respective internal constitutional procedures have been fulfilled.

2 — This Agreement shall remain in force for a period of 10 years and continue in force thereafter unless, 12 months before its expiration or any subsequent five-year period, either Contracting Party notifies the other in writing of its intention to terminate the Agreement.

3 — In respect of investment made prior to the date of termination of this Agreement the provisions of articles 1 to 12 shall remain in force for a further period of 10 years from the date of termination of this Agreement.

In witness whereof, the undersigned representatives, duly authorized thereto, have signed the present Agreement.

Done in ..., in duplicate, at this 27 day of September 1995, in the Portuguese, Latvian and English languages, all texts being equally authentic.

In case of any divergence of interpretation, the English text shall prevail.

For the Portuguese Republic:

"VER DIÁRIO ORIGINAL"

PROTOCOL

On the occasion of the signing of the Agreement between the Portuguese Republic and the Republic of Latvia on Promotion and Reciprocal Protection of the Investments, the undersigned, duly authorized to this effect, have agreed also on the following provisions, which constitute an integral part of the said Agreement:

1 — With reference to article 2 of this Agreement: The provisions of article 2 of this Agreement should

be applicable when investors of one of the Contracting Parties are already established in the territory of the other Contracting Party and wish to extend their activities or to carry out activities in other sectors.

Such investments shall be considered as new ones and, to that extend, shall be made in accordance with the rules on the admission of investments, according to article 2 of this Agreement.

2 — With reference to article 3 of this Agreement: The Contracting Parties consider that provisions of

article 3 of this Agreement shall be without prejudice to the right of either Contracting Party to apply the relevant provisions- of their tax law which distinguish between tax-payers who are not in the same situation with regard to their place of residence or with regard to the place where their capital is invested.

Done in ..., in duplicate, at this 27 day of September 1995, in the Portuguese, Latvian and English languages, all texts being equally authentic.

In case of any divergence of interpretation, the English text shall prevail.

For the Portuguese Republic:

"VER DIÁRIO ORIGINAL"

27 DE SETEMBRO DE 19961516-(31)until the proceedings have terminated and a Contracting Party has failed to abide by or to comply with the award rendered by the International Center for the Settlement of Investments Disputes.4 — The award shall be enforceable on the parties and shall not be subject to any appeal or remedy other than that provided for in the said Convention. The award shall be enforceable in accordance with the domestic law of the Contracting Party in whose territory the investment in question is situated.Article 10Application of other rulesIf the provisions of law of either Contracting Party or obligations under international law existing at present or established hereafter between the Contracting Parties in addition to this Agreement contain a regulation, whether general or specific, entitling investments made by investors of the other Contracting Party to a treatment more favourable than is provided for by this Agreement, such provisions shall, to the extent that they are more favourable, prevail over this Agreement.Article 11 Application of the AgreementThis Agreement shall apply to all investments, made by investors from one of the Contracting Parties in the territory of the other Contracting Party in accordance with the respective legal provisions, prior to as well as after its entry into force, but shall not apply to any dispute concerning investments which have arisen before its entry into force.Article 12Consultations and exchange of informationRepresentatives of the Contracting Parties shall, whenever necessary, hold consultations on any matter affecting the implementation of this Agreement. These consultations shall be held on the proposal of one of the Contracting Parties at a place and a time to be agreed upon through diplomatic channels. Upon request by either Contracting Party, information shall be exchanged on the impact of the laws, regulations, decisions, administrative practices or procedures or policies that the other Contracting Party may have on investments covered by this Agreement.Article 13Entry into force and duration1 — This Agreement shall enter into force 30 days after the Contracting Parties notify each other in writing that their respective internal constitutional procedures have been fulfilled.2 — This Agreement shall remain in force for a period of 10 years and continue in force thereafter unless, 12 months before its expiration or any subsequent five-year period, either Contracting Party notifies the other in writing of its intention to terminate the Agreement.3 — In respect of investment made prior to the date of termination of this Agreement the provisions of articles 1 to 12 shall remain in force for a further period of 10 years from the date of termination of this Agreement.In witness whereof, the undersigned representatives, duly authorized thereto, have signed the present Agreement.Done in ..., in duplicate, at this 27 day of September 1995, in the Portuguese, Latvian and English languages, all texts being equally authentic.In case of any divergence of interpretation, the English text shall prevail.For the Portuguese Republic:"VER DIÁRIO ORIGINAL"PROTOCOLOn the occasion of the signing of the Agreement between the Portuguese Republic and the Republic of Latvia on Promotion and Reciprocal Protection of the Investments, the undersigned, duly authorized to this effect, have agreed also on the following provisions, which constitute an integral part of the said Agreement:1 — With reference to article 2 of this Agreement: The provisions of article 2 of this Agreement shouldbe applicable when investors of one of the Contracting Parties are already established in the territory of the other Contracting Party and wish to extend their activities or to carry out activities in other sectors.Such investments shall be considered as new ones and, to that extend, shall be made in accordance with the rules on the admission of investments, according to article 2 of this Agreement.2 — With reference to article 3 of this Agreement: The Contracting Parties consider that provisions ofarticle 3 of this Agreement shall be without prejudice to the right of either Contracting Party to apply the relevant provisions- of their tax law which distinguish between tax-payers who are not in the same situation with regard to their place of residence or with regard to the place where their capital is invested.Done in ..., in duplicate, at this 27 day of September 1995, in the Portuguese, Latvian and English languages, all texts being equally authentic.In case of any divergence of interpretation, the English text shall prevail.For the Portuguese Republic:"VER DIÁRIO ORIGINAL"

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