On The Agreement Between Czechoslovakia And The Austrian Republic On The Promotion And Protection Of Investments

Original Language Title: o Dohodě mezi ČSFR a Rakouskou rep. o podpoře a ochraně investic

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Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=39496&nr=454~2F1991~20Sb.&ft=txt

454/1991.



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.

October 1991.



The Czech version of the agreement shall be published at the same time.



The AGREEMENT



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

economic relations;



they agree on this:



Article 1



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

the value;



(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

Republic indicates:



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.



Article 2



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

fairly.



(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.



Article 3



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.



Article 4



Compensation



(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.



Article 5



Transfers



(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;



(b)).



c) instalments of loans;



(d) in the case of revenue) the total or partial destruction or sale

the investment;



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.



Article 6



(Subrogation)



(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.



Article 7



Other liabilities



(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.



Article 8



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.



Article 9



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

otherwise.



Article 10



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.



Article 11



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

months.



(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

its expiry.



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.