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Through Which The "agreement For The Promotion And Protection Of Investments Between The Republic Of Colombia And The Republic Of India", Signed In The City Of New Delhi On The 10Th Of November 2009 Approved

Original Language Title: Por medio de la cual se aprueba el "Acuerdo para la promoción y protección de inversiones entre la República de Colombia y la República de la India", firmado en la ciudad de Nueva Delhi el día 10 del mes de noviembre de 2009

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LAW 1449 OF 2011

(June 14)

Official Journal No. 48.100 of 14 June 2011

CONGRESS OF THE REPUBLIC

By means of which the "Agreement for the Promotion and Protection of Investments between the Republic of Colombia and the Republic of India", signed in New Delhi on November 10, 2009, is approved.

Vigency Notes Summary
Effective Case-law

THE CONGRESS OF THE REPUBLIC

Having regard to the text of the "Agreement for the Promotion and Protection of Investments between the Republic of Colombia and the Republic of India", signed in New Delhi on 10 November 2009.

(To be transcribed: photocopy of the full text of the above international instruments is attached).

2010 BILL NUMBER 235

by means of which the "Agreement for the Promotion and Protection of Investments between the Republic of Colombia and the Republic of India" is approved, signed in New Delhi on the 10th of November 2009.

The Congress of the Republic

Having regard to the text of the "Agreement for the Promotion and Protection of Investments between the Republic of Colombia and the Republic of India", signed in New Delhi on 10 November 2009.

(To be transcribed: photocopy of the full text of the international instrument mentioned).

AGREEMENT FOR THE PROMOTION AND PROTECTION OF INVESTMENTS BETWEEN THE REPUBLIC OF COLOMBIA AND THE REPUBLIC OF INDIA

PREAMBLE

The Government of the Republic of Colombia and the Government of the Republic of India, hereinafter the "Contracting Parties";

Wishing to intensify economic cooperation for the benefit of both Contracting Parties;

With the intention of creating favorable conditions for the investments of investors of a Contracting Party in the territory of the other; and recognizing the need to promote and to protect reciprocally the foreign investments with a view to promote the economic prosperity of both Contracting Parties:

You have agreed to the following:

ARTICLE 1. DEFINITIONS.

For the purposes of this Agreement:

1. Investor

1.1. The term "investor" means a natural or natural person or an entity of one of the Contracting Parties that has made investments in the territory of the other Contracting Party in accordance with its national law.

a) A "natural person or natural person" means a person who, in the case of India, is a citizen of India, and in the case of Colombia is a national of Colombia in accordance with their respective legislations;

(b) An entity refers to a company, company, firm or association incorporated or incorporated or otherwise duly established in accordance with the law of that Contracting Party and carrying out substantial economic activities in the territory of that Contracting Party.

1.2. This Agreement shall not apply to investments made by natural persons who are nationals of both Contracting Parties.

2. Investment

2.1. "Investment" means any type of assets that have been established or acquired by investors of a Contracting Party in the territory of the other Contracting Party in accordance with the law of the other Contracting Party, including in particular, but not exclusively, the following:

(a) movable and immovable property as well as other property rights, such as mortgages, encumbrances or warranties in garment;

Vigency Notes

b) Shares, bonds, options and any other similar form of participation in an entity;

c) Rights in money or any other provision under contract that has economic value;

d) Intellectual property rights, including, inter alia, copyright and related rights and industrial property rights such as patents, technical processes, trademarks and brand names, trade names, industrial designs, "know-how and" "goodwill", in accordance with the relevant legislation of the respective Contracting Party;

e) Concessions granted by law or administrative act or contract, including concessions to explore, extract or exploit natural resources.

They will not be considered investment:

i) Public debt operations;

ii) pecuniary claims derived exclusively from:

(a) Commercial contracts for the sale of goods and services by a national or a legal entity in the territory of a Contracting Party to a national or legal entity in the territory of the other Contracting Party; or

b) The granting of credit in connection with a commercial transaction.

2.2. Any change in the form in which the assets have been invested or reinvested shall not affect their investment character, provided that such change is in accordance with the definitions set out in this Article and is made in accordance with with the legislation of the Contracting Party on whose territory the investment was made.

2.3. In accordance with paragraph 2.1 of this Article, the minimum characteristics to be invested shall be:

a) The input of capital or other resources;

b) The expectation of profit or profit; and

c) Risk assumption for the investor.

3. Rents

The term "rents" means the sums produced by an investment, in particular, but not exclusively, profits, dividends, interest, capital gains, royalties and fees.

4. Territory

Territory means:

(a) With respect to Colombia, in addition to its continental territory, the archipelago of San Andrés, Providencia and Santa Catalina, the island of Malpelo, and any other island, isleta, cayo, cape and bank belonging to it, as well as the airspace and the areas (a) the maritime territory on which it has sovereignty or over which it exercises sovereign rights and jurisdiction in accordance with its respective legislation and international law, including applicable international treaties;

b) With respect to India, the territory of the Republic of India including its territorial waters and airspace over this, and other sea areas including the Exclusive Economic Zone and the continental shelf on which the Republic of India has sovereignty, sovereign rights or exclusive jurisdiction, in accordance with its current legislation, to the United Nations Convention on the Law of the Sea of 1982 and to international law.

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ARTICLE 2. APPLICATION BOTH.

This Agreement shall apply to all investments made by investors of any Contracting Party in the territory of the other Contracting Party, accepted as such in accordance with its laws and regulations, made before or after the entry into force of this Agreement, but shall not apply to any dispute that has arisen or to any measure that has been adopted prior to the entry into force of this Agreement.

ARTICLE 3. PROMOTION AND PROTECTION OF INVESTMENTS

1. Each Contracting Party shall promote in its territory the investments of investors of the other Contracting Party. Each Contracting Party shall admit such investments in accordance with its laws, regulations and policies.

2. Each Contracting Party shall protect within its territory the investments that have been made in accordance with its legislation by the investors of the other Contracting Party and shall not impede the administration, the maintenance, use, enjoyment, sale or disposal of such investments.

3. Each Contracting Party shall ensure fair and equitable treatment and full protection and security within its territory to the investments of the investors of the other Contracting Party.

4. For more certainty,

(a) "Fair and equitable treatment" includes the obligation not to deny justice in criminal, civil, or administrative proceedings, in accordance with the principle of due process;

(b) The standard of "full protection and security" does not, in any case, imply superior treatment to nationals of the Contracting Party where the investment has been made;

(c) The determination that another provision of this Agreement, or another international agreement, has been infringed shall not imply that the minimum level of treatment of foreign nationals has been infringed.

ARTICLE 4. NATIONAL TREATMENT AND MOST FAVOURED NATION TREATMENT

1. Each Contracting Party shall grant in its territory to the investments of investors of the other Contracting Party, in respect of the administration, the maintenance, the use, the enjoyment, the sale or disposition of the investments made in its territory, a treatment which shall not be less favourable than that granted, in similar circumstances, to investments by its own investors or to investments by investors of any third State.

2. Each Contracting Party shall grant in its territory to the investors of the other Contracting Party, in respect of the administration, the maintenance, the use, the enjoyment, the sale or the disposal of the investments made in its territory, a treatment which shall not be less favourable than the one granted, in similar circumstances, to investors of any third State.

3. The most Favoured Nation Treatment to be granted in similar circumstances referred to in this Agreement does not extend to dispute settlement mechanisms, such as those contained in articles 9 (Dispute Settlement between a Contracting Party and an Investor of the Other Contracting Party) and 10 (Settlement of Disputes between Contracting Parties) of this Agreement, which are provided for in international treaties or agreements of investment.

4. The provisions of this Agreement relating to the granting of a treatment no less favourable than that which is granted to investors ' investments or to investors of any of the Contracting Parties or of any third State shall not be interpret in such a way that they require a Contracting Party to extend to investors or investors of the other Contracting Party the benefit of any treatment, preference or privilege resulting from:

(a) Any area of free trade, customs union, common market, economic or monetary union or other form of economic, regional or bilateral organization, existing or future, the effect of which is to establish a free trade area or an agreement or international arrangement of which it is or becomes a party;

b) Any matter wholly or partially related to taxation, including an Agreement to Avoid Double Taxation.

ARTICLE 5. TRANSFERS.

l. Each Contracting Party shall allow without undue delay and in a non-discriminatory manner the investors of the other Contracting Party the free transfer of all payments related to its investments, and in particular, but not exclusively the following transfers:

(a) The principal amount and additional sums required for the maintenance, expansion and development of the investment;

b) The rents, as defined in Article 1;

c) The funds required for the reimbursement of investment-related credits;

d) Funds derived from dispute settlement and compensation, as set out in Articles 6 (Expropriation) and 7 (Loss Compensation);

e) The product of the total or partial sale of the investment, or of the total or partial disposition of the investment;

(f) The wages and remuneration received by staff engaged abroad in relation to an investment;

g) Payments resulting from dispute settlement under this Agreement.

2. Transfers shall be made in the currency of the original investment or in any other currency convertible at the exchange rate prevailing on the market to the date of the transfer, in accordance with the currency regulations in force of the Party Contractor on whose territory the investment was made.

3. Notwithstanding the provisions of this Article, a Contracting Party may condition or prevent a transfer by means of the fair, non-discriminatory and in good faith application of its legislation relating to:

(a) Concourse procedures, insolvency or the protection of the rights of creditors;

b) Compliance with judicial, administrative, and arbitration providences.

c) Compliance with labor obligations;

For further certainty, these measures and their implementation shall not be used to prevent the fulfilment of commitments or obligations of the Contracting Party in accordance with this Article.

4. By way of derogation from paragraphs 1 and 2 of this Article, the Contracting Parties may temporarily restrict transfers in circumstances of serious difficulties in their balance of payments or threat thereof; or in cases where, exceptional circumstances, capital movements cause or threaten to cause serious difficulties for macroeconomic management, in particular monetary and exchange rate policies, provided that such restrictions are compatible or issued in accordance with or applied to the IMF agreements as requested by the IMF and fair, non-discriminatory and in good faith.

ARTICLE 6. EXPROPRIATION.

l. Investors ' investments of a Contracting Party in the territory of the other Contracting Party shall not be subject to nationalization, expropriation, or any other measure of similar effects (hereinafter "expropriation") except for reasons utility[1], in accordance with the law, in a non-discriminatory manner, and accompanied by the payment of fair and equitable compensation.

2. It is understood that:

(a) Indirect expropriation results from a measure or a series of measures from a Contracting Party having an effect equivalent to a direct expropriation without the formal transfer of the title or a takeover;

(b) The determination of whether a measure or a series of measures of a Contracting Party constitutes indirect expropriation requires a case-by-case analysis, based on the facts and considering:

i) The economic impact of the measure or the series of measures; although the simple fact that the measure or series of measures generates an adverse economic impact on the value of an investment does not imply that there is indirect expropriation;

(ii) The extent to which the measures are discriminatory, whether in scope or in application with respect to an investor or an entity of a Party;

iii) The extent to which measures or series of measures interfere with the distinguished and reasonable expectations of investment;

(iv) The character and intent of the measures or series of measures, whether or not they are in good faith, for the purposes of public interest and whether there is a reasonable link between them and the intention to expropriate.

(c) Non-discriminatory regulatory actions taken by a Party that are designed and implemented to protect legitimate public utility objectives, including health, safety and environmental protection, do not constitute expropriation or nationalisation; except in exceptional circumstances, where such actions are so severe that they cannot be reasonably perceived as a result of good faith adoption and implementation for the achievement of their objectives;

(d) The actions and awards of the judicial organs of a Contracting Party that are designed, applied or issued for reasons of public interest, including those designed to address health, safety and environmental concerns, constitute expropriation or nationalisation.

3. The compensation will be equivalent to the fair market value that the expropriated investment had immediately before the expropriation or before the imminence of the same out of public knowledge, what happens first, and will include interest to a reasonable commercial rate up to the date of payment, shall be made without undue delay, shall be effectively and freely transferable.

4. The affected investor shall be entitled, in accordance with the law of the Contracting Party that made the expropriation, to an early review of his case by a judicial authority or other independent authority of that Party. Contractor, to decide whether the expropriation and valuation of your investment were made in accordance with the principles set out in this article.

5. Where a Contracting Party expropriates the assets of a company incorporated in its territory in accordance with the laws in force and in which investors from the other Contracting Party participate, it shall ensure that the provisions of this Article are apply in such a way that such investors have fair and equitable compensation.

6. The establishment of monopolies[2] by any of the Contracting Parties shall be in accordance with the obligations of this Article.

7. The Contracting Parties confirm that the issuance of compulsory licenses granted in accordance with the World Trade Organization Agreement on Trade-Related Aspects of Intellectual Property Rights is covered by the provisions of this Article.

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ARTICLE 7. COMPENSATION FOR LOSSES.

Investors of a Contracting Party whose investments in the territory of the other Contracting Party suffer losses due to war, armed conflict, revolution, national state of emergency, insurrection, disturbance or any other similar event, shall enjoy in respect of restitution, compensation, compensation or other arrangement, treatment not less favourable to that granted by the Contracting Party receiving the investments to its national investors or to the investors of any Third State.

ARTICLE 8. SUBROGATION.

1. If a Contracting Party or its designated agency has granted a financial guarantee against non-commercial risks, and makes a payment under that guarantee, or acts in accordance with its rights as a subrogate with respect to an investment made by one of its investors in the territory of the other Contracting Party, that other Contracting Party shall recognize the subrogation of any right, title, claim privilege or existing actions or that may occur. The Contracting Party or its agency designated as surrogates shall not have additional rights to those of the original investor.

2. In the event of any controversy, the Contracting Party that has been subrogated in the rights of the investor will not be able to initiate or participate in proceedings before the national courts or to submit the case to international arbitration, in accordance with the provided in Article 9 (Dispute Settlement between a Contracting Party and an Investor of the other Contracting Party) of this Agreement.

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ARTICLE 9. DISPUTE SETTLEMENT BETWEEN A CONTRACTING PARTY AND AN INVESTOR FROM THE OTHER CONTRACTING PARTY.

1. Any dispute between an investor of a Contracting Party and the other Contracting Party concerning an investment under this Agreement or in connection with the interpretation or application of this Agreement shall, as far as possible, be resolved. amicably by the parties in controversy. Any dispute shall be notified in writing, including detailed information by the investor to the Contracting Party receiving the investment (Dispute Notice).

2. Such a dispute shall be submitted for settlement to a competent administrative body of a non-judicial nature, if the law of the Contracting Party so provides.

3. If the dispute cannot be resolved in accordance with paragraphs (1) and (2) within six (6) months of the Notice of Dispute referred to in paragraph 1, the investor may choose to submit it for solution to:

(a) The relevant courts or courts of the Contracting Party on whose territory the investment was made; or

b) To international reconciliation in accordance with the United Nations Commission for International Trade Law (UNCITRAL) Conciliation Rules; or

c) To arbitration, according to the following sub-paragraph:

i) The International Center for Settlement of Investment Disputes (ICSID) created by the "Convention on the Settlement of Differences in Investment between States and Nationals of Other States" opened for signature in Washington on 18 December. of March 1965, when the two Contracting Parties have acceded to that; or

(ii) If one of the Contracting Parties has not acceded to that Convention, the dispute may be resolved in accordance with the Supplementary Mechanism for the Administration of Conciliation Procedures. ICSID Arbitration and Fact Check; or

iii) An ad hoc arbitration tribunal established in accordance with the Rules of Arbitration of the United Nations Commission for International Trade Law of 1976, subject to the following amendments:

(a) The authority entrusted with the appointment pursuant to Article 7 of the Regulation shall be the President, the Vice-President or the Judge who follows him in seniority of the International Court of Justice, which is not a national of any of the Contracting Parties. The third arbitrator shall not be a citizen of any Contracting Party;

(b) The Parties shall appoint their respective arbitrator over the course of two (2) months.

4. The choice of the investor to submit a dispute either under paragraph 3 (a) or (b) or (c) of this article shall be final.

5. The challenger investor shall submit to the Contracting Party a written notification ("Notice of Intent") of submitting an arbitration application at least one hundred and eighty (180) days before submitting such a request. Such notification shall indicate the name and address of the challenger investor the provisions of the Agreement that the challenger investor considers were infringed, the facts on which the dispute is based, the estimated value of the damage and the intended compensation.

6. Notice of Intent filed by the challenger investor for arbitration pursuant to paragraph 5, while pending settlement under paragraphs 1 and 2 will not prevent the investor from making an election under paragraph 3 of this article.

7. Each Contracting Party gives its prior and irrevocable consent for the submission of a dispute to any of the arbitral proceedings referred to in paragraph 3.c. of this article.

8. The arbitration awards shall be final and binding on the parties to the dispute.

9. The investor may not submit an arbitration request if more than three (3) years have elapsed from the date on which he became aware or should have been aware of the alleged breach of this Agreement, as well as of the suspected loss or damage sustained.

10. The dispute settlement mechanisms provided for in this Agreement shall be based on the provisions of this Agreement, the national law of the Contracting Party on whose territory the investment has been made, including the rules relating to conflicts of law, in the general principles of law and in international law.

11. The Court should consider whether the complainant's complaint is frivolous, and should give the parties a reasonable opportunity to comment. In the event of a frivolous complaint, the Court shall pay the costs to the applicant.

12. The court will not have jurisdiction to rule on the legality of the measure in the light of domestic law.

13. The delivery of the Notice of Intent and other documents to a Party shall be made at the place designated by the Party in Annex I (Document Delivery in accordance with Article 9).

14. The arbitration tribunal shall decide on the basis of its decision and shall give reasons for the request of either Party.

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ARTICLE 10. DISPUTE SETTLEMENT BETWEEN CONTRACTING PARTIES.

1. Any dispute arising between the Contracting Parties in respect of the interpretation or application of this Agreement shall be resolved, as far as possible, through negotiations.

2. In the event that the dispute cannot be resolved in this manner within a period of six (6) months from the date of commencement of the negotiations, it shall be submitted, at the request of either Contracting Party, to a Court of Arbitration.

3. The Court of Arbitration shall be constituted as follows: each Contracting Party shall appoint an arbitrator and the two arbitrators shall appoint a citizen of a third State with which both Contracting Parties maintain diplomatic relations, who shall The Court will preside. The arbitrators shall be appointed within three (3) months and the President shall be appointed within five (5) months from the date of notification from one Party to the other of his intention to present the case to an arbitration tribunal. The appointment of the President shall be approved by the Contracting Parties within thirty (30) days from the date of their nomination.

4. If, within the time limits provided for in paragraph (3) of this Article, the necessary appointments have not been made, any Contracting Party may, in the absence of another agreement, invite the President of the International Court of Justice to make the necessary appointments. If the President of the International Court of Justice is a national of any of the Contracting Parties or in any other way has an impediment to such a function, the Vice-President shall be invited to carry out the appointments. required. If the Vice-President is a national of either of the Contracting Parties or is also prevented from carrying out such a function, the member of the International Court of Justice who follows him in seniority and who is not a national of any of the Contracting Parties Contracting parties, will be invited to make the necessary appointments.

5. The Court of Arbitration shall decide on the basis of the provisions enshrined in this Agreement and the principles generally accepted by International Law applicable to the matter. The Court will decide by a majority vote and determine its own procedural rules. The decisions of the Court shall be final and binding on both Contracting Parties.

6. Unless otherwise agreed, the costs of the arbitrators and the arbitral process shall be borne in equal parts by each Contracting Party.

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ARTICLE 11. DENIAL OF BENEFITS.

l. A Contracting Party may deny the benefits of this Agreement to an investor of the other Contracting Party and to the investments of such an investor if persons from a Third State own or control such investor and the Party Contractor who denies the benefits:

a) Does not maintain diplomatic relations with that Third State; or

b) Adopts or maintains measures with respect to that Third State that prohibit transactions with the investor or that may be infringed or circumvented if the benefits of this Agreement were granted to such investor or to their investments.

2. A Contracting Party may deny the benefits of this Agreement to an investor of the other Contracting Party that is a company of that other Party and to the investments of such investor if the company does not have business activities substantial in the territory of the other Contracting Party and if persons from a third State or from the Contracting Party which denies the benefits, owns or controls such a company.

ARTICLE 12. STAFF ENTRY AND STAY

A Contracting Party, subject to its applicable laws regarding the entry and stay of persons who are not citizens, shall allow the natural persons of the other Contracting Party to enter and remain temporarily in its territory. the staff employed by the companies of the other Contracting Party in order to engage in investment-related activities.

ARTICLE 13. GENERAL EXCEPTIONS.

1. Nothing in this Agreement will apply to tax matters.

2. Nothing in this Agreement shall require any Contracting Party to protect investments made with capital or assets originating in illicit activities.

3. Notwithstanding any other provision of this Agreement, a Party may not be prevented from adopting or maintaining measures related to financial services for prudential reasons[3]. If such measures are not in accordance with the provisions of this Agreement, they shall not be used in the sense of evading the commitments or obligations of the Contracting Party under such provisions, in particular those obligations under Items 5 (Transfers) and 6 (Expropriation).

4. Nothing in this Agreement shall prevent a Contracting Party from acting, when deemed necessary for the protection of its essential security interests or in circumstances of extreme emergency, in accordance with its legislation, normally, and in a reasonable and non-discriminatory manner.

5. Subject to the requirement that the measures cannot be applied in such a way as to constitute arbitrary or unjustified discrimination against the investors of the other Contracting Party or a hidden restriction on investments of the investors of a Contracting Party in the territory of the other Contracting Party, nothing in this Agreement may be interpreted to prevent the adoption or implementation by a Contracting Party of measures:

a) Necessary to preserve public order;

b) Necessary to protect human, animal, plant or health life;

c) Related to the protection of the environment or the preservation of non-renewable natural resources, if such measures are applied in conjunction with restrictions on production or domestic consumption;

d) That they comply with their obligations under the United Nations Charter for the Maintenance of International Peace and Security.

ARTICLE 14. APPLICABLE LAW.

Any investment made as part of this Agreement shall be governed by the laws and regulations in force in the territory of the Contracting Party receiving such investment.

ARTICLE 15. OTHER PROVISIONS.

If current or future international law provisions contain rules, specific or general, that grant investment by investors of the other Contracting Party a more favourable treatment than that provided for in this Agreement, such Regulation shall prevail over this Agreement to the extent that it is more favourable.

ARTICLE 16. QUERIES.

The Contracting Parties shall consult each other on any matter related to the application or interpretation of this Agreement.

ARTICLE 17. ENTRY INTO FORCE, DURATION, AND TERMINATION.

1. This Agreement shall enter into force sixty (60) days after the date on which the Contracting Parties have notified each other that the respective internal constitutional formalities required for the entry into force of international treaties have been met.

2. This Agreement will remain in force for a period of ten (10) years. It shall be automatically extended unless any Contracting Party has notified the other Contracting Party in writing through diplomatic channels of its intention to terminate it. The Agreement shall be deemed to be terminated one year after the date of receipt of such written notification.

3. This Agreement may be amended at any time after its entry into force by mutual consent.

4. Notwithstanding the termination of this Agreement pursuant to paragraph 2 of this Article, the same shall continue to be effective for an additional period of ten (10) years counted from the date of its termination with respect to investments. made or acquired prior to the said date of termination of the Agreement.

In faith of which the undersigned, duly authorized by their respective governments, sign this Agreement.

Signed in New Delhi City on the 10th of November 2009 in three originals in Spanish, English and Hindi, each text being equally authentic. In case of any divergence, the English text will prevail.

ANNEX I.

HANDING OVER DOCUMENTS TO A PARTY UNDER ARTICLE 9.

INDIA

The place of submission of the Notice of Intent and other documents related to the dispute settlement of Article 9, in India is:

Department of Economic Affairs

Ministry of Finance

North Block, New Delhi 110001, India

COLOMBIA

The place of delivery of the Notice of Intent and other documents related to the dispute settlement of Article 9, in Colombia is:

Foreign Investment and Services Management

Ministry of Commerce, Industry and Tourism

Calle 28 No 13th--15

Bogotá, D. C., Colombia.

THE COORDINATOR OF THE TREATY AREA OF THE INTERNATIONAL LEGAL AFFAIRS DIRECTORATE OF THE MINISTRY OF FOREIGN AFFAIRS (E)

CERTIFIES:

That the reproduction of the text above is a faithful and complete photocopy of the original text in Spanish of the "Agreement for the Promotion and Protection of Investments between the Republic of Colombia and the Republic of India", signed in the city of New Delhi on the 10th of November 2009, which consists of nine (9) Folios, a document that rests on the archives of the Treaty Area of the International Legal Affairs Directorate of the Ministry of Foreign Affairs.

Dada en Bogotá, D. C., a 16 de marzo de 2010.

The Coordinator Area of Treaties (E), Directorate of International Legal Affairs,

JOSÉ DEMETRIO MATIAS ORTIZ.

EXECUTIVE BRANCH OF PUBLIC POWER

PRESIDENCY OF THE REPUBLIC

Bogotá, D. C., at 5 March 2010.

Authorized. Submit to the consideration of the honorable Congress of the Republic for the constitutional effects.

(Fdo.) ALVARO URIBE VELEZ

The Foreign Minister,

(Fdo.) Jaime Bermudez Merizalde.

DECRETA:

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ARTICLE 1o. Approve the "Agreement for the Promotion and Protection of Investments between the Republic of Colombia and the Republic of India", signed in New Delhi on Day 10 of the month of November 2009.

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ARTICLE 2o. In accordance with the provisions of Article 1 of Law 7ª of 1944, the "Agreement for the Promotion and Protection of Investments between the Republic of Colombia and the Republic of India ", signed in New Delhi City on the 10th day of November 2009, which under article 1or this law is passed, will force the country from the date the link is perfected international regarding the same.

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ARTICLE 3o. This law governs from the date of its publication.

The President of the honorable Senate of the Republic,

ARMANDO BENEDETTI VILLANEDA.

The Secretary General of the honorable Senate of the Republic,

EMILIO RAMON OTERO DAJUD.

The President of the honorable House of Representatives,

CARLOS ALBERTO ZULUAGA DIAZ.

The Secretary General of the honorable House of Representatives,

JESUS ALFONSO RODRIGUEZ CAMARGO.

COLOMBIA-NATIONAL GOVERNMENT

Communicate and comply.

Execute, upon revision of the Constitutional Court, in accordance with Article 241-10 of the Political Constitution.

Dada in Bogotá, D. C., on June 14, 2011.

JUAN MANUEL SANTOS CALDERÓN

The Deputy Minister for Multilateral Affairs of the Ministry of Foreign Affairs, in charge of the functions of the Foreign Minister's office,

BEATRIZ PATTI LONDONO JARAMILLO.

The Minister of Commerce, Industry and Tourism,

SERGIO DIAZGRANADOS GUIDA.

* * *

1. With respect to Colombia, it is understood that the term "public utility or social interest" included in article 58 of the Political Constitution of Colombia (1991) is compatible with the term " public purpose " used in this article.

2. With respect to Colombia, the monopolies will be established according to article 336 of the Political Constitution of Colombia (1991).

3. It is understood that the adoption or maintenance of measures related to financial services for prudential reasons includes measures for the protection of investors, depositors, policy holders or to ensure integrity and stability of the financial system.

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