Read the untranslated law here: https://www.vestnesis.lv/ta/id/200695
The Saeima has adopted and the President promulgated the following laws: For the Government of the Republic of Latvia and the Government of Canada contract for the promotion and protection of investments 1. 5 May 2009 in Riga the Latvian Government signed and agreement of the Government of Canada for the promotion and protection of investment (hereinafter contract) with this law is adopted and approved. 2. article. Contractual commitments coordinated by the Ministry of Foreign Affairs. 3. article. The agreement shall enter into force for the period specified in article XVIII and in order, and the Ministry of Foreign Affairs shall notify the newspaper "journal". 4. article. The law shall enter into force on the day following its promulgation. With the law put for Latvian language in the contract. 5. article. With the entry into force of the agreement is terminated, the law "On Government of the Republic of Latvia and the Government of Canada contract for the promotion and protection of investments" (Latvian Saeima and the Cabinet of Ministers rapporteur, 1995, nr. 14). The Parliament adopted the law on 29 October 2009. President Valdis Zatlers of Latvia V Government of the Republic and the Government of Canada contract for the promotion and protection of investments the Government of the Republic of Latvia and the Government of Canada, hereinafter called "the Contracting Parties", recognising that the investors of one Contracting Party for the promotion and protection of investments in the territory of the other Contracting Party will be conducive to stimulating business initiatives and the development of economic cooperation between them, have agreed as follows: article I definitions in this agreement: (a) "confidential information" means confidential business information and information that is the sacred or otherwise protected from disclosure; (b) "company" means (i) any entity created or organized under applicable law, profit or non-profit, private ownership, or a Government-owned, including any corporation, trust, partnership, sole proprietorship, joint venture, or other association; and (ii) any of the following entities branch; (c) "existing measures" means measures which exist at the time when this agreement enters into force; (d) "financial service" means a service of a financial nature, including insurance and service that is associated with the service of a financial nature or the nature of the ancillary activities relating to financial services; (e) "financial institution" means any financial or other financial intermediary company that is entitled to conduct business and which are regulated or supervised as a financial institution in accordance with the law of the Contracting Party in whose territory it is located; (f) "intellectual property rights" means copyright and related rights, trademark rights, patent rights, semi-conductor integrated circuits equipment design rights, trade secret rights, plant breeders ' rights, geographical indications and designs sample; (g) "investment" means any property which is owned or directly or indirectly via a third country is controlled by investors of one Contracting Party, an investor in the territory of the other Contracting Party in accordance with the latest laws and, in particular, but not exclusively, includes: (i) movable and immovable property and any related rights such as mortgages, liens or pledges; (ii) shares, shares, bonds and shares, or any other form of participation in a company, business or joint venture company; (iii) money, demands for money and financial requirements for the commercial performance of the contract; (iv) the company's prestige; (v) intellectual property rights; (vi) the right to carry out any economic or commercial activities, including the right to search for, develop, acquire or use natural resources, which are assigned in accordance with the Act or the commercial contract; but that doesn't mean real estate or other property, tangible or intangible, which has not been obtained or is not used for the purposes of economic benefit or other business purposes; Any change to the contribution does not affect the nature of the form, which it displays as an investment; (h) "investor" means in the case of Latvia: (i) any natural person who has the citizenship of Latvia, as well as the natural persons who reside in Latvia, which do not have Latvian citizenship or another country, but which, under the laws of Latvia's non-citizens the right to a passport; or (ii) legal persons, including companies (i.e. companies) or a corporation, public organizations and their associations, societies, foundations, for profit or not, which are registered or established in accordance with the laws of the Republic of Latvia, to make investments in the territory of Canada and which is not Canadian citizenship; and in the case of Canada: (i) any natural person who is a Canadian citizen or a permanent resident in Canada, in accordance with its laws; or (ii) any company which is registered or established in accordance with the applicable laws in Canada, which made the investment in the territory of the Republic of Latvia; (i) "action" includes any law, procedure, requirement or practice; (j) "public body" means a Contracting Party or a monetary Union, a Member State of which it is a Contracting Party, or owned or controlled by existing financial institutions, any central bank or monetary authority; (k) "income" means the income arising from the investment, especially, but not exclusively, include profits, interest income, income from capital gains, dividends, royalties, payments or other current income; (l) "public undertaking" means an undertaking, which is Government-owned, or that the Government controls through its participation in the company; (m) "territory" means: (i) for Canada, the territory of Canada, as well as its maritime territory, including the territorial sea adjacent to the outer limit of the seabed and the underground, over which Canada, in accordance with international law, exercises sovereign rights for the purpose of study and use the natural resources of such areas; (ii) in the case of Latvia, the Republic of Latvia, as well as its maritime territory, including the territorial sea adjacent to the outer limit of the seabed and the underground, over which the Republic of Latvia in accordance with international law, exercises sovereign rights for the purpose of study and use the natural resources of such areas. (II) article business establishment, acquisition and investment aizsardzība1 (1) each Contracting Party shall encourage investors of the other Contracting Party for the creation of conditions favourable to investments in its territory. (2) (a) each Contracting Party by the other Contracting Party of the investor or investment income subject to a regime that is appropriate for international law set the minimum behavior mode against aliens, including fair and equitable treatment and full protection and security. (b) the concept of "fair and equitable treatment" and "full protection and security" (a) in paragraph 1 does not oblige to apply additional mode that international law is determined as regards the minimum behavior mode against the aliens. (c) other provisions of this agreement or a separate international treaty violation finding does not mean that it is in violation of this part. (3) each Contracting Party by the other Contracting Party by investors or prospective investors of the company's new business permits establishment or an existing business enterprise or company acquisitions, with grace, with which, in similar circumstances, it permits such acquisition or establishment of: (a) its own investors or prospective investors; or (b) any third-country investors or prospective investors. (4) (a) Any decision of the Contracting Parties, which are based on such measures, which are not inconsistent with this agreement or allow or do not allow the acquisition of investment are not subject to this agreement or the provisions of article XV, XIII. (b) any decision of the contracting parties do not allow investors or prospective investors to establish a new business enterprise, or get all or part of an existing business enterprise shall not be subject to article XIII of this agreement. (5) the Contracting Parties recognize that it is inappropriate to encourage investment by reducing domestic health, safety or environmental requirements. Thus, a Contracting Party refuses or otherwise impair, or offers to give up or otherwise reduce this type of business establishment, acquisition, expansion of investment or saving a fostering in its territory. If a Contracting Party considers that the other Contracting Party has offered such a veicinājum, it may request consultations with the other Contracting Party, and the two parties shall consult in order to avoid any such promotion. _ _ _ _ _ _ _ _ _ _ _ 1 for greater clarity, the Contracting Party shall apply in accordance with this article (3) (b) and article III, paragraphs (1) and (2), as regards the regional regulatory authority means the regime under similar circumstances in the regional regulatory authority apply to those investors, and to investments of investors, not from the Contracting Parties. The arrangements applied by the Contracting Party under paragraph (3) (a) and article III, paragraph (3) part, as regards the regional regulatory authority means the regime under similar circumstances in the regional regulatory authority of its contracting parties, investors and investments of investors. (Iii) article most-favoured-nation treatment (MFN) and national treatment by the business establishment (1) each Contracting Party by the other Contracting Party of the investor or investment income shall be accorded treatment no less favourable than that which, in similar circumstances, it grants the investor of any third State investments or income. (2) each Contracting Party by the other Contracting Party by investors on their investment or income, use, management, use, or transfer shall be accorded treatment no less favourable than that which it, in similar circumstances, grant any third country investors. (3) each Contracting Party by the other Contracting Party of the investor or investment income shall be accorded treatment no less favourable than that which, in similar circumstances, it grants its investors or investment income for investment expansion, management, conduct, operation and sale or transfer. Article IV exceptions (1) of article II (3), article III, and article V (1) and (2) do not apply in respect of: (a) (i) any existing non-conforming measures, that are stored on the territory of the Contracting Party; and (ii) any measure which is stored or accepted after this date of entry into force of the Treaty, which the public company, or Government departments in the national capital, the sale or other use, prohibits or restricts the ownership of the shares or assets or imposes nationality restrictions on senior management or members of the Management Board; (b) either (a) not mentioned in the relevant application, the continuation of the measures or restore; (c) either (a) not mentioned in the corresponding amendments to the measure, in so far as these do not impair compliance with the requirements of the measure just before the change; (d) each of the Contracting Parties the right to adopt or maintain exceptions to the sectors or matters listed in Annex A to this agreement. (2) the agreement in the national treatment and most-favoured-nation treatment provisions do not apply to the benefits that a Contracting Party shall apply, in accordance with its obligations arising from its membership in the customs, economic or monetary Union, common market or free trade zone. (3) the contracting parties understand that the Contracting Party's obligations arising from its membership of the customs, economic, or monetary Union, common market or free trade area, include obligations arising from international agreements or mutual understandings of such customs, economic or monetary Union, common market or free trade area. (4) article II (3) (b) and article III (1) and (2) do not apply in relation to the regime that a Contracting Party pursuant to any existing or future bilateral or multilateral agreement relating to: (a) Aviation; (b) fisheries; (c) maritime matters, including salvage of a vessel or cargo; or (d) financial services. Other measures of article v (1) (a) a Contracting Party may not require that any Contracting Party that is an investment company under the contract, senior management positions would mean a particular nationality. (b) a Contracting Party may require that the company, which has investments in accordance with this agreement, the Board or any Committee of the majority would have determined the nationality of persons or parties residing in the territory, provided that this requirement shall not affect the material of the investor is able to exercise control over its investment. (2) no party shall implement any of the following restrictions in connection with the establishment or acquisition of an investment authorization, or any of the following requirements in connection with this investment further adjustment: (a) to export a certain amount or percentage of the quantity of goods; (b) to achieve a certain amount of domestic components or percentages of goods value; (c) to purchase, use or assign the benefits of the goods produced or services provided in its territory, or to purchase goods or services from persons in its territory; (d) any extension of volume or value of imports to the volume or value of exports or to the injection of foreign currency associated with such investment; or (e) to transfer technology, a production process or other private knowledge a person not related to the Facilitator, in its territory, unless such a requirement has not been determined whether such obligations or taking must be performed in compliance with a court, Administrative Tribunal or competition authority decision to cover damages for infringement of competition law for certified or other provisions of this agreement are not appropriate. (3) (2) subparagraph are not translated to Latvia to apply or save prohibited performance requirements necessary to ensure Latvia's commitments arising from its membership in the European Union (EU), in accordance with the rules, the EU has adopted or maintained with respect to agricultural and processed in the production, processing and marketing of agricultural products. (4) (2) the prohibition set out in part on performance requirements does not apply to the receipt of benefits or lasting, such as to any benefits resulting from the agricultural product market instruments and the establishment of market stabilisation measures. (5) each Contracting Party shall, in accordance with its laws and policies concerning the entry of aliens permits nationals of the other Contracting Party, which are employed in the company and intends to provide to the Government or izpilddarbīb-related services to the company or its subsidiary or branch, the temporary entry. The various exceptions to ARTICLE VI (1) (a) in relation to intellectual property rights, a Contracting Party may not respect article III, in so far as it is according to 15 April 1994 the Marrakesh Final Act signed in the Uruguay Round of multilateral trade negotiations. (b) the provisions of article VIII does not apply to compulsory licences, which are related to intellectual property rights or the intellectual property rights of cancellation, limitation or creation, as far as this issue, cancellation, limitation or creation is consistent with the 1994 Marrakesh in April 15, signed the final act of the Uruguay Round of multilateral trade negotiations. (2) this agreement, (II), (iii) and article V of article (1), (2) and (5) do not apply to conditions relating to: (a) the country or State of purchase; (b) the State or corporate subsidies or benefits conferred, including Government supported loans, guarantees and insurance; (c) any measures that the investors of the other Contracting Party, or their investments, denying any rights or benefits that are granted to the Canadian indigenous peoples (Aboriginal); or (d) any existing or future foreign aid program to promote economic development, either in accordance with the bilateral agreements, or in accordance with the multilateral programme or agreement, such as the Organization for economic cooperation and development (OECD) agreement on export credits. (3) the provisions of this agreement do not apply to investments in the cultural industries. "Cultural industry" means natural persons or companies engaged in any of the following activities: (a) books, magazines, periodicals or newspapers for publication, distribution or sale in printed or machine-readable form, but not including any of the above just printing or typographical Assembly; (b) a film or video production, distribution, sale or exhibition; (c) audio or video music recordings on the production, distribution, sale or exhibition; (d) publication of the work, music distribution, selling or displaying the printed or machine-readable form; or (e) radiocommunications in which the transmissions are intended for direct reception of citizens, and all radio, television or cable broadcasting undertakings and all the satelītprogramm and broadcast network services. Article VII compensation of one Contracting Party who suffer losses to investors because their investment or income in the territory of the other Contracting Party are affected by armed conflict, a State of emergency or natural disaster in the area of the other Contracting Party, as regards restitution, indemnification, compensation or other solution apply treatment no less favourable than that which it applies its own investors or investors of any third State. Article Ekspropriācija2 VIII (1) any Contracting Party of the investor or the investment income will not be nationalized, expropriated or subjected to measures of nationalization or expropriation with equivalent effect ("expropriation") in the territory of the other Contracting Party, except for public purposes, in accordance with the procedure laid down in the national law, in a non-discriminatory manner, and receive a prompt, adequate and effective compensation. Such compensation built on the expropriated investment or income fair value at the time immediately before the expropriation or at a time when it became publicly known about the expected expropriation, whichever occurs first, including the costs of the normal commercial interest rate, which is calculated from the date of expropriation, it shall be paid without delay and it is effectively realizable and freely transferable. (2) in accordance with the contracting party carrying out expropriation law, affect the investor's right to these parties for the Court or other independent body immediate review of his case and his investment or income assessment in accordance with the principles set out in this article. _ _ _ _ _ _ _ _ _ _ _ _ 2, annex B (clarification of indirect expropriation) apply to this article. Article IX transfer of funds (1) each Contracting Party by the other Contracting Party the investor guarantees unlimited investment and income transfers. Without limiting the foregoing general principles, each Party shall guarantee the investor will also not limited to: (a) funds provided for the repayment of credit related investment, transfers; (b) income from any investment of total or partial liquidation of transfers; (c) nationals of the other Contracting Party, which was permitted to work in connection with an investment in the territory of a Contracting Party contrary, salary or other compensation transfers; and (d) any refunds due to investors in accordance with this agreement or the provisions of article VIII VII, transfers. (2) the Transfer is effected without delay, in convertible currency in which the capital was originally invested or in any other convertible currency agreed by the investor and the Contracting Party concerned. If not agreed otherwise with the investor, transfers are made at the exchange rate in force on the day of the transfer. (3) Notwithstanding (1) and (2), a Contracting Party may not allow the transfer, equal, non-discriminatory and good faith application of its laws relating to: (a) bankruptcy, insolvency or the protection of the rights of creditors; (b) the release of securities, trade or activity; (c) criminal or indictable offences; (d) reports of currency or other monetary instruments transfers; or (e) proceedings for the enforcement of decisions taken. (4) neither Contracting Party does not require its investors to transfer income related to investments in the territory of the other Contracting Party, or to punish its investors that do not transfer income related to investments in the territory of the other Contracting Party. (5) (4) is not translated so as to prevent any Contracting Party of measures of equal, non-discriminatory and good faith application of its laws relating to (3) of (a) to (e) above. (6) despite paragraph (1), a Contracting Party may restrict transfers in such circumstances that it may otherwise restrict such transfers under the World Trade Organization (WTO) agreement, and (3) part. Article x the substitution principle (1) If a Contracting Party or any agency thereof makes a payment to any of its investors under a guarantee or a contract of insurance it has entered into in respect of an investment, the other party shall recognize the validity of substitution in favor of such Contracting Party or agency in respect of any of the rights or the requirements of the investor. (2) the Contracting Party or any agency thereof, which after substitution principle is the investor's rights under this article (1), any circumstances in respect of investments and related income, have the same rights as those that are investor. A Contracting Party, any of its agencies or investors may use such rights, if the Contracting Party or any agency thereof for their powers. Article XI of the financial Investment Services (1) Nothing in this Agreement shall be interpreted to prohibit a Contracting Party from adopting or retaining reasonable measures for prudential reasons, such as: (a) investors, depositors, financial market participants, policy for the benefit of the applicant, the holder or the person on whose behalf it is authorised to act on the protection of the financial institution; (b) financial security, stability, integrity or financial responsibility of the conservation; and (c) the Contracting Parties and of the whole financial system stability. (2) Notwithstanding article IX (1), (2) and (4) and, without prejudice to article IX (3) applicability of part, the Contracting Party may prevent or limit transfers the financial institution branch or person related to such institution or service provider, or transfers such affiliate or a person related to such institution or service provider, equal, non-discriminatory and good faith application of measures relating to the security of financial institutions stability, integrity or financial responsibility. (3) (a) If the investor submits the claim to arbitration under article XIII, and of the parties to the dispute, a party referring to the above (1) or (2), the Court, established in accordance with article XIII, at the request of a Contracting Party requires a written report to the Contracting Parties as to whether and to what extent those parts are warranted against the requirements of the investor. The Court cannot continue his work until you receive the message mentioned in this article. (b) the requirement that the Executive received in accordance with paragraph (3) (a), the Contracting Parties shall proceed in accordance with article XV and prepare a written report, on the basis of an agreement, following the consultation, arbitration or the assistance of the Commission. Consultations shall take place between the Contracting Parties, the financial services authority. The report shall be submitted to the arbitration and is binding on the Tribunal. (c) if the 70 days since the arbitration guidelines has been made a requirement for the establishment of a Panel pursuant to paragraph (3) (b), and the message is received by the Tribunal, the Tribunal may issue a decision to continue. (4) the Commission disputes the financial issues and similar matters is necessary for decision to the experience that is relevant to the specific financial service for which you are in dispute. (5) article II (3) (b) shall not apply in relation to financial services. Article XII the taxation measures (1) Nothing in this Agreement shall be applied with respect to taxation measures other than those set out in this article. (2) Nothing in this Agreement shall affect the rights and obligations of the Contracting Parties under any tax Convention. If there is any inconsistency between this agreement and any such Convention, the provisions of this Convention apply, in so far as there is a mismatch. (3) in accordance with (2) part of the investor's claim that the measure of a Contracting Party in respect of taxes is contrary to the Central Government of a Contracting Party and an investor of the investment agreement, is considered a claim that has been violated by this Treaty, if one of the Contracting Parties, the tax authorities not later than six months after the receipt of a notification from the investor of its claim in relation to taxation measures , jointly decides that the measures are not in conflict with this agreement. (4) article VIII may be applied with respect to taxation measures of the Contracting Parties, unless the tax authorities not later than six months after the receipt of a notification from an investor that it disputes the taxation measures, jointly decide that the measure is not an expropriation. (5) if the Contracting Parties ' tax authorities within six months of receipt of notification may not jointly decide matters referred to in (3) and (4) a share, the investor may submit a claim for the resolution in accordance with article XIII. Article XIII disputes between an investor and a Contracting pusi3 beneficiary (1) any dispute between one Contracting Party and an investor of the other Contracting Party relating to the investor's claim that the aforementioned Contracting Parties whether or not conducted the measure taken is the breach of this agreement and that the investor this offence if it is incurred losses or expenses as much as possible, be dealt with amicably. (2) if within six months from the commencement of the dispute has not been resolved amicably, the investor may submit to arbitration under paragraph (4). The purpose of this part is considered to have started the dispute, if the investor of one Contracting Party has transferred the written notification to the other Contracting Party, which argued that the measure is or is not made of the latter Contracting Party, is a breach of this agreement and that the investor this offence if it is incurred losses or expenses. (3) the investor may submit (1) a dispute referred to arbitration under paragraph (4) only if: (a) the investor has consented in writing; (b) the investor has waived his/her right to initiate or continue any other proceedings relating to the event, which is considered a breach of this agreement, any other Contracting Party concerned in court or in arbitration or other dispute resolution procedure; (c) the question is related to taxation, article XII (5) the conditions laid down are met; and (d) not more than three years have elapsed from the date on which the investor first became aware, or should have first become aware of the infringement alleged and known that the investor incurred losses or expenses. (4) Disputes the choice of the investor arbitration may be filed: (a) the International Center for investment disputes, established in accordance with the Convention on the settlement of investment disputes between States and nationals of other States opened for the accession procedure of 18 March 1965 in Washington (the ICSID Convention), provided that both the disputing Contracting Party and the Contracting Party from which comes the investor, is the ICSID Convention; or (b) in accordance with the ICSID rules of procedure further provided that either the disputing Contracting Party or the Contracting Party from which comes the investor, but not both parties, is the ICSID Convention; or (c) the arbitrator or arbitration board, specially established for established under the United Nations Commission on international trade law (UNCITRAL) arbitration rules. (5) each Contracting Party without opposition agrees to submit the dispute to international arbitration in accordance with the provisions of this article. (6) (a) the consent given in accordance with subparagraph (5) together with the consent, given in accordance with subparagraph (3) or consents given pursuant to paragraph (12), satisfy the following requirements: (i) the parties to the dispute consent in writing pursuant to chapter II of the ICSID Convention (jurisdiction of the Centre) and the additional rules of procedure; and (ii) "agreement in writing" according to the New York Convention on the recognition of foreign arbitration and enforcement of judgments, signed at New York, 10 June 1958, article II. (b) any arbitral tribunal established under this article shall take place in the country, which is New York State, and a claim submitted to arbitration, in accordance with Convention considered article 1, as the descent from a commercial relationship or transaction. (7) the arbitral tribunal established under this article, the dispute shall decide the issues in accordance with this agreement and international law applicable norms. (8) the Tribunal may order the provisional safeguard measures be introduced to protect the rights of the parties to the dispute or to ensure that the jurisdiction of the Court is carried out absolutely effective, including an order to preserve trace evidence the parties to the dispute or to protect the jurisdiction of the Court. The Tribunal may not order attachment or to ban the event, which is considered a breach of this agreement, the application. The purpose of this part, the order shall include a recommendation. (9) the Tribunal shall, individually or jointly, may be imposed only: (a) loss of money, together with interest; (b) restitution of property, in the case of decisions which should provide that the parties to the dispute, the Contracting Party may pay back the losses in cash together with the applicable percent restitution. The Tribunal may also decide that the costs should be borne by the Tribunal in accordance with the applicable law. (10) the arbitration award is final and binding and enforceable in each Contracting Party. (11) any proceedings under this article shall not impair the right of Contracting Parties, in accordance with article XIV and XV. (12) (a) the requirement that a party is in breach of this agreement and that the company, which is a legal person and which is duly registered or established in accordance with the applicable law of a Contracting Party, have incurred losses or expenses from the following or in connection with such violations, may submit to the Contracting Parties to the other investor acting company which owns this investor or which he directly or indirectly controls the the word. In such a case: (i) any decision is taken in favour of the victim company; (ii) are required for both the investor and the enterprise consent to arbitration will decide the matter; (iii) both the investor and the company waives any right to initiate or continue any other proceedings relating to the event, which is considered a breach of this agreement, a court or Tribunal of the Contracting Party concerned, or to initiate or continue any dispute resolution procedures; and (iv) the investor may not make a claim, if from the date on which the investor first became aware, or should have first become aware of the infringement alleged and known that the investor incurred losses or expenses that are more than three years. (b) despite paragraph (12) (a) where the dispute is a Contracting Party to the dispute took investor control over the company, the following is required: (i) the company's agreement to be held according to the Tribunal (12) (a) (ii); and (ii) the withdrawal under (12) (a) (iii). (13) in relation to: (a) the Contracting Parties financial institutions; and (b) investors of a Contracting Party, and to investments of investors in financial institutions in the territory of the other Contracting Party, article XIII (settlement of disputes between an investor and a Contracting Party to the beneficiaries) shall apply only in respect of claims which the Contracting Party has breached an obligation under article VIII (expropriation), article IX (transfer of funds) and of article XVIII (final provisions and entry into force) (1) and (2). ___ ___ ___ ___ 3 Annex C (settlement of disputes between an investor and a Contracting Party requested) apply to the proceedings provided for in this article. Article XIV consultations and exchange of information (1) each Contracting Party may request consultations concerning the interpretation or application of this agreement. The other Contracting Party to take the necessary action to prominence. At the request of either Contracting Party for an exchange of information on those measures to the other Contracting Party, which would affect the new investments as well as investments and income covered by this agreement. (2) the consultations provided for in the framework include advice regarding any steps, which the Contracting Party can be seen as necessary to ensure consistency between this agreement and the Treaty establishing the European Community. Article XV disputes between the Contracting Parties (1) any dispute between Contracting Parties concerning the interpretation or application of this Agreement shall, whenever possible, are dealt with in a friendly advice. (2) if the dispute cannot be settled by consultation, then, at the request of either Contracting Party, be submitted to an Arbitration Commission for a decision. (3) each for the event of a dispute, the Arbitration Commission established. Within two months of receipt of the request through diplomatic channels for arbitration, each Contracting Party shall appoint one member of the Arbitration Commission. These two members shall select a third country national who, after the two parties gave their consent, is designated as the President of the Commission of arbitration. The Chairman is appointed within two months of the other two members of the Arbitration Commission of the appointment date. (4) If this article (3) the period referred to in the designation of the time required have been made, either of the Contracting Parties, unless there is any other agreement, invite the President of the International Court of Justice to make the necessary appointment. If the President is a national of a Contracting Party, or for any other reason unable to perform those activities required appointment should be invited to make a Vice President. If the Vice-President is a national of a Contracting Party do not take these steps, then the necessary appointment should be invited to make the next highest ranking International Court of Justice, a member who is not a citizen of a Contracting Party. (5) the Arbitration Commission shall establish its own operating procedures. The Arbitration Commission shall adopt by majority vote. Such decision shall be binding on both Contracting Parties. Unless there is some other arrangement, the Arbitration Commission their decision must be adopted within six months of the appointment of the Chairman and in accordance with paragraph (3) and (4). (6) each Contracting Party shall bear the costs of its own Member in the Commission, as well as its representation expenses of arbitration processes; Chairman's expenses and any other costs shall be borne by the two Contracting Parties in equal shares. However, in its decision, the Tribunal may determine that a proportionately higher share of the cost is borne by one of the Contracting Parties, and this decision is binding on both Contracting Parties. (7) within 60 days of adoption of the decision of the Commission, the Contracting Parties agree on the manner in which their dispute is resolved. Typically, such agreement shall comply with the Commission's decision. If the Contracting Parties are unable to agree, the party who started the dispute, shall be entitled to compensation or other rewards with the same value as what the Court decided by the Commission. Article XVI openness (1) two years from the entry into force of this agreement the Contracting Parties shall exchange the letters, as far as possible, should be accounted for in any existing measures that do not conform to article II (3), article III or article V (1) and (2). (2) each Contracting Party shall, as far as reasonably practicable, ensure that its laws, regulations, procedures and general applicability of administrative rules relating to any matter covered by this agreement are promptly published or otherwise made available to the interested parties and the other contracting party be able to become acquainted with them. Article XVII and the General exceptions (1) This Treaty shall apply to any one of the Contracting Parties of the investment made by investors in the territory of the other Contracting Party before or after the entry into force of this agreement. (2) Nothing in this Agreement shall be interpreted to prohibit a Contracting Party from adopting, maintaining or require to execute any of the laws, which are otherwise in accordance with this agreement and which it considers appropriate to ensure that investment activity in its territory, connectivity to the lenient attitude towards the environment. (3), provided that such measures are not applied in a manner that will cause arbitrary or unjustifiable discrimination between investments or between investors , or hidden in international trade or investment restriction, nothing in this Agreement shall be interpreted to prohibit a Contracting Party to adopt or to enforce the measures necessary: (a) to ensure compliance with the laws and regulations which are not inconsistent with the provisions of this agreement; (b) to protect human, animal or plant life or health; or (c) live or not live in non-renewable natural resources. (4) (a) Nothing in this agreement may not be translated so as to prohibit a Contracting Party from applying or to maintain measures that restrict transfers where the party is in serious balance of payments difficulties, or there is a threat, and such restrictions are in accordance with point (b). (b) (a) the measures referred to in paragraph 1 is to be fair, they can not be arbitrarily and unjustly discriminatory, they must be applied in good faith, with limited duration and may not go beyond what is necessary to remedy the balance of payments situation. Contracting Party shall apply the measures referred to in this article, the other Contracting Party shall be informed immediately and as soon as possible to contain a time schedule for their removal. The following measures are applied in accordance with the other Contracting Party, the international obligations, including those arising from the WTO agreement, and the International Monetary Fund articles of Agreement. (5) Nothing in this agreement may not be detrimental to the General measures that are not arbitrary and unduly discriminatory, which apply to any State authority to regulate monetary and related credit policies or Exchange. This part does not affect the obligations of the Contracting Parties in accordance with article V (2) (performance requirements) or article IX (transfer of funds). (6) Nothing in this agreement may be translated into: (a) to any contracting party required to provide, or allow access to any information the disclosure of which it has determined are contrary to its essential security interests; (b) to any contracting party to apply the deny action it deems necessary to protect its essential security interests (i) relating to arms, munitions and war equipment trade and on such trade and transactions with other goods, materials, services and technology undertaken directly or indirectly by the military or other security object for the purpose of supply; (ii) carried out the war or other emergency in international relations; or (iii) in respect of national policies or international agreements related to the introduction of nuclear weapons or of other kodolspridzekļ; or (c) the contracting party to prevent the application of the transaction resulting from its obligations under the Charter of the United Nations in international peace and security. (7) Nothing in this agreement may not be translated so that the Contracting Party requested to provide, or allow access to information the disclosure of which may hinder the execution of the Act or which may be contrary to the law of a Contracting Party to protect Cabinet classified information, personal privacy or the financial institutions ' individual customers ' financial transactions and accounts. (8) any measure taken by a Contracting Party that is an appropriate decision that has adopted, extended or amended by the World Trade Organization in accordance with the WTO agreement: IX IX: 3 or 4 articles, is considered as appropriate for this contract. Investors who act in accordance with article XIII of this agreement can not make the claim that the appropriate measure is a breach of this agreement. Article XVIII final provisions and entry into force (1), a Contracting Party may refuse to grant the benefits of this agreement of the other Contracting Party of the investor are parties to the company and the investor, if the company is owned or controlled by an investor who is not from the Contracting Parties, and atsakoš, the Contracting Party in respect of non-Contracting Party shall adopt or maintain measures that prohibit transactions with the enterprise or that would be violated or circumvented If the benefits of this agreement to be extended to the company or its investments. (2) in accordance with the previous notification and consultation in accordance with this agreement, the Contracting Party may refuse to grant the benefits of this agreement of the other Contracting Party of the investor are parties to the company and the investor, if the company is owned or controlled by an investor who is not from the parties and if the company did not make substantial business activities in the territory of the Contracting Party under whose laws it is created. (3) all references in this agreement to the Contracting Parties concerning measures include measures that are applicable in accordance with EU legislation in the territory of the Contracting Party which is a Member State of the European Union. The reference to "serious balance of payments difficulties, or the existing threats," includes a serious balance of payments difficulties, or the existing threat, economic or monetary Union, which is a member of the party. (4) the Contracting Parties of the vital security interests may include interest arising from its membership of the customs, economic, or monetary Union, common market or free trade zone. (5) the Contracting Parties agree that the question of whether the Contracting Parties measures are appropriate to this Treaty, are dealt with in accordance with this Agreement only in dispute resolution procedures. (6) each Contracting Party shall notify the other in writing that the procedures required in its territory for the entry into force of this Treaty. This agreement will take effect on the date on which the last of the two notifications. With the entry into force of this Agreement shall terminate the agreement between the Government of the Republic of Latvia and the Government of Canada for the promotion and protection of investments, which was concluded on 26 April 1995, except that the conditions continue to apply to any dispute between a Contracting Party and an investor of the other Contracting Party that the investor in accordance with the contract, has filed for arbitration before the entry into force of this agreement. Despite any such dispute, this contract applies to any dispute which has not more than three years before the date of its entry into force. (7) this agreement will remain in force until either contracting party notifies the other in writing not Contracting Party of its intention to terminate it. This contract will cease one year after the notice of termination received the other Contracting Party. For investments or commitments to invest made prior to the termination of this contract, this contract I-XVII, (including) the article will remain in effect for fifteen years. (8) the annexes form an integral part of this agreement. THIS, according to the two Government authorized representatives have signed this agreement. SIGNED in duplicate at Riga, 5 May 2009 in Latvian, English and French languages, all three texts being equally authentic.
Latvian Foreign Minister Maris Riekstins Canadian international trade and Asia-Pacific cooperation Minister Stokvel dance in LATVIA on behalf of the Government of the Republic of for the Government of CANADA Annex A (1) in accordance with article IV (1) (d) point, Canada reserves the right to make and retain restrictions below sectors and issues:-social services (i.e. public law enforcement, correctional institutions service; income assurance or insurance; social security or insurance; social welfare; public education; public training; health and child care); -services in any other sector; – Government securities as described in SIC 8152; -residence requirements to get owned land adjacent to the ocean; – measures to comply with the Northwest Territories and the Yukon oil and gas contract. (2) in accordance with article IV (1) (d) shall reserve himself the right to Latvia to make and to maintain restrictions on the sectors and matters mentioned below:-Earth mining (in agriculture land use and forest land) in urban and rural areas; -security activities; -gambling and Lotteries; -fisheries. (3) within the framework of this annex, for Canada, the abbreviation "SIC" refers to the standard industrial classification number what they found in the Statistics Canada publication the Ministry of Standard Industrial Classification (classification of industrial standard) issued in 1980 (4th Edition).
Annex b explanation of indirect expropriation article VIII this agreement (expropriation) provides that: Any Contracting Party of the investor or the investment income will not be nationalized, expropriated or subjected to measures of nationalization or expropriation with equivalent effect ("expropriation") in the territory of the other Contracting Party, except for public purposes, in accordance with the procedure laid down in the national law, in a non-discriminatory manner, and receive a prompt, adequate and effective compensation. The Contracting Parties affirm that they understand that: (1) the term "measures of nationalization or expropriation with equivalent effect" can also be defined as "indirect expropriation". Indirect expropriation results from contracting parties measure or series of measures, which are equivalent to direct expropriation without formal effect of change of ownership or full forfeiture. (2) in order to determine whether the Contracting Parties a measure or series of measures constitutes an indirect expropriation is required based on the facts of any given case study, which among other factors include: (a) a measure or series of measures of economic impact, while one of the fact that the measure of a Contracting Party or a set of measures has an adverse effect on the economic value of the investment does not establish that an indirect expropriation has occurred; (b) the degree to which the measure or series of measures prevents a specific, reasonable, based on the return on investment projections; and (c) the measure or series of measures. Except in measure or series of measures is so remote from its target that they reasonably can be considered to be the Contracting Parties adopted and applied in good faith measures, the Contracting Parties to non-discriminatory measures that are designed and applied to protect legitimate public welfare objectives, such as health, safety and the environment, do not constitute indirect expropriation.
Annex c settlement of disputes between an investor and a Contracting Party requested (I) public access to hearings and documents (1) the Court, in accordance with article XIII should be accessible to the public. To the extent necessary to ensure the protection of confidential information, the Tribunal part of the hearing, the parties can view closed. (2) the Tribunal shall, in consultation with the parties to the dispute, establishes the procedure for the protection of confidential information and organisational arrangements publicly available court session. (3) any arbitration or arbitration issued submitted documents are publicly available, unless the parties to the dispute agree otherwise in relation to the removal of sensitive information. (4) despite paragraph (3), any judgment of the Arbitration Board under this section is accessible to the public, provided that confidential information is removed. (5) the party to the dispute to other persons in connection with the arbitration proceeding may disclose the non-redacted documents that it considers necessary to prepare its case, but it is necessary to ensure that those persons protect the confidential information in these documents. (6) in the course of settlement of disputes, the Contracting Parties in accordance with this contract you can exchange relevant documents not edited with regional administration officials, but they must ensure that those persons protect any confidential information in these documents. (7) the Tribunal shall not require Contracting Parties to provide, or allow access to information the disclosure of which may impede the implementation of the law, or may be in conflict with the law of a Contracting Party to protect Cabinet classified information, personal privacy or the financial institutions ' individual customers ' financial transactions and accounts, or which it determines are contrary to its vital security interests. (8) If the arbitration decision information is identified as confidential but the Contracting Parties the law on access to information requires public access to such information, then the Contracting Party's law on access to information shall prevail. However, a Contracting Party should endeavour to apply its law on access to information so as to protect the information that is defined by arbitral tribunal as confidential. (II) not involved in the dispute in the presence of a Contracting Party (1) unrelated to the dispute, the Contracting Party shall bear the costs arising, is entitled to receive from the disputing contracting parties concerned a copy of: (a) evidence that is submitted to arbitration; (b) all copies of the application submitted for arbitration; and (c) the written argument by the parties involved in the dispute. (2) the Contracting Party that is not involved in the dispute by receiving the information in accordance with paragraph (1), to treat the information as if it were a disputing party. (3) the written notification to the parties to the dispute, the dispute involved not a Contracting Party to the arbitration may submit applications for interpretation of this agreement. (4) not involved in the dispute, the Contracting Party in accordance with this chapter shall be entitled to attend any hearing, whether in arbitration or submission will not be submitted. (Iii) not involved in the dispute the parties submissions (1) any party to the dispute, not who is the person of the Contracting Parties or have a significant presence in the territory of a Contracting Party wishing to submit a written application to the Tribunal (the "applicant"), in accordance with the guidelines adopted by the arbitration shall submit an application for permission to fill out the following application. The applicant in the application shall be accompanied by the application. (2) the applicant to submit an application for authorisation to the parties to the dispute, not the application and the application shall be submitted to all parties involved in the dispute and arbitration. (3) the Tribunal shall set an appropriate date by which the parties to the dispute shall comment on the parties involved in the dispute do not permit you to complete the application. (4) in determining whether to grant permission for a party in the dispute not to submit the application, the Tribunal shall, inter alia, take into account the extent to which: (a) the parties to the dispute, not the application will help the Tribunal to determine the arbitration associated with the actual or legal question, giving a perspective, specific knowledge or insights from different parties involved in the dispute of insight; (b) the parties to the dispute, not the application will apply to disputes; (c) not a party to the dispute is interested in arbitration proceedings; and (d) the public interest in the arbitration of disputes. (5) the Tribunal shall ensure that: (a) any of the parties to the dispute, not the application does not cause the delay of the trial; and (b) with the following submissions to any party to the dispute are not unduly burdened or unfairly caused it harm. (6) the Tribunal shall decide whether to grant permission for a party in a dispute to submit an application. If permission has been granted to the dispute without a party to submit an application, the Tribunal shall set an appropriate date by which the parties to the dispute shall respond in writing to the parties involved in the dispute. Until that date the dispute involved not the Contracting Party in accordance with this annex does not dispute involved the participation of the Contracting Parties may address any matter of interpretation of this agreement, the dispute is not covered by the parties involved in the application. (7) the Tribunal that grants permission for a party in the dispute not to submit the petition, is not obliged to refer to the application in one of the stages of arbitration, as well as non-party to the dispute submitting an application, do not have the right to submit further submissions in the arbitration. (8) the parties involved in the dispute, which submitted the application in accordance with these procedures, access to documents and the hearing will be regulated the conditions for public access to hearings and documents in accordance with this annex on public access to documents of the cases and conditions. (IV) guidelines do not dispute the parties involved in the dispute, the submissions (1) the parties to an application not be allowed to submit the application: (a) a written, dated and signed by the person making the application, and it includes the applicant's address and other contact details; (b) not more than 5 typed pages; (c) the nature of the applicant, including, if necessary, its membership and legal status (such as a company, trade association or other non-governmental organization), its main objectives, the nature of the activity, and any parent organization (including any organization that directly or indirectly controls the applicant); (d) disclose whether the applicant has any relationship, direct or indirect, with any of the parties to the dispute; (e) identify any Government, person or organization that has provided any financial or other assistance in the preparation of the application; (f) indicates the applicant's interest in the nature of the arbitration process; (g) identify the specific issues of fact or law in the arbitration that the applicant indicated in the application; (h) reference to the factors specified in this annex does not dispute the parties submissions (4), in part explains why the Tribunal should accept the application; and (i) is the language of the arbitration. (2) the parties to the dispute, not the application: (a) is dated and signed by the person who submitted the application; (b) are concentrated, and in no case longer than 20 typed pages, including any annexes; (c) a precise statement of the nominated principal applicant's position on the case; and (d) affect only the questions that apply to the dispute.
Annex d ICSID case, UNCITRAL or any other body that correspond to the procedures laid down in this Treaty for the settlement of disputes between an investor and the State, shall amend the relevant provisions, including those laid down in Annex C to this agreement, the Contracting Parties agree to work together to examine means to ensure that Annex C is not contrary to the amended rules.
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