Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=39496&nr=454~2F1991~20Sb.&ft=txt
The COMMUNICATION FROM the
the Federal Ministry of Foreign Affairs
The Federal Ministry of Foreign Affairs says that the 15 December. October 1990
the agreement was signed in Vienna between the Czech and Slovak Federal
Republic and the Republic of Austria on the promotion and protection of investments.
With the agreement of the Assembly expressed their consent the Czech and Slovak Federal
The Federal Republic and the President of the Czech and Slovak Federal
Republic has ratified it. The instruments of ratification were exchanged in Prague on
July 23, 1991.
Agreement entered into force, pursuant to article 11 (2). 1 on 1 July.
The Czech version of the agreement shall be published at the same time.
between the Czech and Slovak Federative Republic of Brazil and the Republic of Austria
on the promotion and protection of investments
The Czech and Slovak Federal Republic and the Republic of Austria, hereinafter referred to as
"the Contracting Parties",
Desiring to develop friendly relations in accordance with the principles of
The final act of the Conference on security and cooperation in Europe,
signed on 1 May 2004. August 1975 in Helsinki and create favourable
the conditions for greater economic cooperation between the Contracting Parties;
being předsvědčeny, that the promotion and protection of investment may boost interest in
establish such investments and thus contribute significantly to the development of
they agree on this:
The definition of the
For the purposes of this agreement,
(1) the term "investment" includes all property values, which are
made by the investor of one Contracting Party in the territory of the other Contracting
the parties, in accordance with its legislation, in particular:
and movable and immovable things) and all of the rights in rem;
(b)) shares and other types of participation in companies;
(c)) claims and claims for money that was passed to create the
the economic value of, or claims, which has an economic
(d)) the rights from the field of intellectual property, including copyright,
trade protective rights such as patents and inventions, trademarks,
business designs and models as well as consumption patterns, technical procedures,
know-how, trade names and goodwill;
(e)) the public rights regarding search, extraction or
the use of natural resources;
(2) the term "investor" in respect of the Czech and Slovak Federal
and) any natural person who is under the Czechoslovak legal system
a citizen of the Czech and Slovak Federative Republic, according to the Czechoslovak
the rule of law is entitled to act as an investor and invests on the territory of the
the other Contracting Party;
(b)) to any legal person, which has been established under the Czechoslovak
the rule of law, has a registered office on the territory of the Czech and Slovak Federal
Republic and invests on the territory of the other Contracting Party;
as regards the Republic of Austria may refer to:
and) any natural person who has the nationality of the Austrian
Republic and invests on the territory of the other Contracting Party;
(b)) to any legal person or a company of persons under commercial law,
which was set up in accordance with the Austrian legal order is based on the
the territory of the Republic of Austria and invests on the territory of the other Contracting Party;
(3) the term "income" means all amounts that accrue from investments and
It includes, in particular, profits, interest, capital gains, dividends, tantiemy
and license fees.
The promotion and protection of investments
(1) each Contracting Party shall, as far as supports on its territory
investments of investors of the other Contracting Parties, their emergence in the
accordance with their national law and in any case handled properly and
(2) investments and their returns shall enjoy full protection under this agreement.
The same applies in the case of reinvestment for their income. The legal extension of the
or change the investment must be made in accordance with the law
the Contracting Party in whose territory the investment is established.
Management of investments
(1) each Contracting Party shall be treated with the investors of the other party, and
their investments no less favourably than its own investor or with
investors of third States and their investments.
(2) the provisions of paragraph 1 shall not apply to current or future
the benefits that one party provides the investors with a third State
or their investments in connection with:
and economic Union), Customs Union, common market, free zone
trade or economic grouping;
(b)) the international agreement or international treaty or national
law on tax issues;
(c)) to facilitate frontier traffic.
(1) investments of investors of one Contracting Party may be on the territory of the other
the Contracting Parties, or during the nationalized undergone some other measures
with the same consequences only in the public interest, on the basis of the rule of procedure
and against compensation.
(2) the compensation must correspond to the value of the investment immediately before the
before it was published, actual or impending expropriation. Compensation must
be granted without delay and must be úročeno until the time of payment of the
current bank interest rates of the State on whose territory the
investment is established; must be freely transferable. No later than at the time of
the expropriation must be ensured in an appropriate manner of determining the amount and
the granting of compensation.
(3) If a Contracting Party expropriates the assets
the company, which shall be in accordance with article 1, paragraph 2, of this agreement
seen as a private company, and that the investor has a second
the share of the Contracting Parties, the provisions of paragraph 1, so that
ensure adequate compensation to the investor.
(4) the Investor has the right to examine the amount of compensation and the manner of its
payment either by the competent authorities of the Contracting Party, which carried out the
the expropriation, or the arbitral tribunal referred to in article 8 of this agreement.
(1) each Contracting Party shall guarantee to investors of the other contracting party without
delay free transfer of salaries, which are associated with investment in the wild
convertible currency, in particular
and) capital and additional amounts to maintain or extend the investment,
including its administration;
c) instalments of loans;
(d) in the case of revenue) the total or partial destruction or sale
e) compensation pursuant to article 4 paragraph 1 of this agreement.
(2) the transfers referred to in this article shall be made the official exchange
monthly exchange rate valid on the territory of the Contracting Party on the date of the transfer. Bank charges
will be in proper amount and adequate.
(1) If a party or its authorised institution shall provide the
your payment to the investor because of the guarantees on investment located in the territory
the other Contracting Party, the other party shall recognize the transfer of all rights or
the investor's entitlements pursuant to the Act or on the basis of a legal arrangement
the first Contracting Party. This is true regardless of the rights of the investor first
the Contracting Parties arising from article 8 and the right of the first party
under article 9 of this agreement.
(2) a Contracting Party shall accept the second entry of the first party to all
the rights or claims, which is the first Contracting Party shall be entitled to engage in the
the same extent as its legal predecessor. For the transfer of salaries, which they have
be made on the basis of the transferred claims on that Contracting Party,
shall apply mutatis mutandis in article 4 and 5 of this agreement.
(1) if it appears from the legislation of one Contracting Party, or of the
international legal obligations that apply between the Contracting Parties in addition to the
or arising from this agreement in the future, the General or special
the provisions, on the basis of which should be granted to investments of investors
other more favourable treatment than the parties under this agreement,
use these provisions to the extent to which existing
A more favourable agreement.
(2) Investors of one Contracting Party may enter into with the other Contracting
party to the special agreements, but their provisions shall not be in breach of
with this agreement. Investment by these contracts-based will drive
their provisions, as well as the provisions of this agreement.
Settlement of investment
(1) where between one party and an investor of the other Contracting
Parties to disputes relating to the investment of the amount or the method of payment
the compensation referred to in article 4 or the obligation to transfer under article 5 of this
The agreement will be resolved, if possible, between the parties in the dispute amicably.
(2) if the dispute Cannot be resolved in accordance with paragraph 1 within six months of
from the written notification concerning the entitlements will be determined enough
dispute resolved, if not otherwise agreed, on the proposal of a Contracting Party, or
the investor of the other Contracting Parties in the arbitration under the arbitration
UNCITRAL rules in force for the Contracting Parties at the time of submission of the
the proposal to arbitration.
(3) the decision of the Arbitration Court is final and binding; Each Contracting
Party shall ensure the recognition and execution of arbitration award in accordance with its
the rule of law.
(4) the Contracting Party that is a party to the dispute, shall not apply in any of the
stage of conciliation or arbitration proceedings or during the performance of the arbitration
statement of objection that the investor who is the other party in the dispute, has received
for some or all of your losses compensation on the basis of the guarantee.
Disputes between the Contracting Parties
(1) any dispute between Contracting Parties concerning the interpretation or application of the agreement to
be removed, if possible, in the framework of friendly negotiations.
(2) if they cannot be removed the disputes referred to in paragraph 1 during the six
months, will be presented at the request of one of the Contracting Parties to assess the
the Arbitration Court.
(3) the arbitral tribunal shall be established on a case by case basis. Each Contracting Party shall
shall designate one arbitrator and the two arbitrators shall agree on a third person,
that will act as the Chairman. The arbitrators are to be designated within three months
and the President into a further two months after one Contracting Party
announced to the other party that it intends to submit the dispute to an arbitration
of the Court.
(4) if the period referred to in paragraph 3 is respected and if there is no other
the agreement, any Contracting Party may request the President of the international
the Court of Justice to make the necessary appointment. If the President of the
International Court of Justice, a citizen of one of the Contracting Parties
or if it has another obstacle may be asked a representative of the President and in the
If he could, the most senior member of the international
the Court of Justice, under the same conditions that made the appointment.
(5) the arbitral tribunal itself determines the procedural rules.
(6) the Arbitration Court shall decide on the basis of this agreement and the generally
the accepted rules of international law. Shall be decided by majority vote;
the decision is final and binding.
(7) each Contracting Party shall bear the expenses of the arbitrator and its representation
in the arbitration proceedings. Expenses of the Chairman and of the other expenses shall be borne by both parties
in the same work. However, the Court may, in its opinion, decide on the costs
Application Of The Agreement
This agreement applies to investment, which investors of one Contracting Party
set up in accordance with the legislation of the other Contracting Parties to the
territory after 1. 1.1950, or which will be set up later.
Entry into force and duration
(1) this agreement is subject to ratification and shall enter into force on the first day
the third month following the month in which they were exchanged
the instruments of ratification.
(2) the agreement shall remain in force for 10 years; After this time will be
extended for an indefinite period and may be in writing through the diplomatic channel
denounced by any Contracting Party, in compliance with a notice period of 12
(3) on the investments that were made prior to the termination of the validity of this
The agreement, by articles 1 to 10 of this agreement, even ten years after
Done at Vienna on 15. October 1990 in two copies, each in the language
Czech and German, both texts being equally authentic.
For the Czech and Slovak Federal Republic:
Václav Klaus, v.r.
For the Republic of Austria:
Ferdinand Lacina v.r.
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