Read the untranslated law here: https://www.tbmm.gov.tr/kanunlar/k4524.html
Law No. 4524 Acceptance date: 1.2.2000
Article 1 - which was signed in Ankara on February 25, 1998. "Investment Between the Government of the Republic of Turkey and the Government of Malaysia Agreement on Reciprocal Promotion and Protection" has been used in the validation of. Article 2 - This Law shall enter into force on the date of publication. Article 3 - This Law shall be enforced by the Council of Ministers.
GOVERNMENT OF THE REPUBLIC OF TURKEY
BETWEEN THE GOVERNMENT OF MALAYSIA
MUTUAL INVESTMENT PROMOTION AND PROTECTION
After "Contracting Parties", hereinafter referred to as the Republic of Turkey
Government and the Government of Malaysia;
to expand the economic and industrial cooperation based on long-term basis and to deepen, and in particular the Contracting Parties to create favorable conditions for investments by investors of the other Contracting Party in the territory of the desire;
Both Contracting Parties to the protection of investors, investment and economic prosperity of both Contracting Parties in order to encourage the flow of investments and individual business initiative Recognizing the need to;
They have the following way deal:
1. For the purposes of this Agreement Business;
(A) "Investment" refers to the presence of all kinds of goods, and in particular are not limited comprising:
(I) mortgages on movable and immovable property, measures, other real rights such as hostage
(Ii) shares, equity shares and debt securities of companies;
(Iii) receive any performance related to an investment, which claims to money or financial value;
(Iv) copyright, patent, trademark, trade names, industrial designs, trade secrets, technical processes and know-how and intellectual and industrial property rights, including the rights to peştemaliye;
(Vi) natural resources of each country of the Contracting Parties research, granted by law or contract, including extraction and use business concessions
(B) "returns" means, obtained from an investment and, in particular, profits are not limited to, interest capital gains, dividends, royalties or fees it includes.
(C) "investor" means:
(I) (1) For the Republic of Turkey; any individual possessing Turkish nationality in accordance with the laws and regulations;
(2) with respect to Malaysia; According to the current legislation that have a Malaysian citizen or any individual with permanent resident of Malaysia;
(Ii) trade in accordance with the laws and regulations of the Contracting Parties and / or established for the investment activities or formed meat companies, partnerships, trusts, partnerships, organizations, legal entities such as associations and enterprises are
(D) "Country" means;
(I) for the Republic of Turkey, the country of the Republic of Turkey, the Republic of Turkey as well as all areas of the application of the law in accordance with international law, the use of the sovereign rights of the Republic of Turkey bordering the coastal sea areas,
(Ii) to Malaysia, all land territory, including the Federation of Malaysia, the territorial sea, it covers the seabed and underground and airspace above it.
(E) "freely usable currency" basis in which investment is made or the money to make payments for international transactions and widely used in international foreign exchange markets are the other major currencies bought and sold widely.
2. (a) Paragraph 1 (a) defined "investment" term refers to all investments made only in accordance with the laws and regulations of the Contracting Parties.
(B) any changes in the form of investment of assets, the change in terms of being converted to originally invest, if any, provided that it is not contrasted approval will be given, it does not preclude the classification of the investment of these assets.
Promotion and Protection of Investments
1. Each Contracting Party to investors of the other Contracting Party to make investments in its territory to encourage accordance with their laws and regulations and will create favorable conditions.
2. Each Contracting Party to investments of investors will always ensure equal treatment and will benefit from a full and adequate protection and security in the territory of the other Contracting Party. Article 3
Most Ziyaa the permissible Mazhar Nations Provisions
1. any of the investments made by investors of either Contracting Party in the territory of the other Contracting Party, not less favorable than that granted to investments made by investors of any third country shall be subject to fair and equal treatment.
2. This Agreement investors of any third state to guarantee conditions no less favorable than permitted by the relevant provisions of the other Contracting Party (the Contracting Parties) to investors;
(A) already made that one side or where any of the Contracting Parties may or future customs union or free trade area, common market, monetary union or similar international agreement or other forms of regional cooperation; or within a reasonable time of the adoption of an agreement designed to establish such a union or area or will lead to an extension of time either; (B) wholly or mainly resulting from any international agreement or arrangement or completely or any domestic legislation relating primarily to tax for taxation, any treatment is not preferred or the benefits of the privilege interpreted as meaning that the obligation to submit to the other Contracting Party investors.
Compensation for losses
Investment in a war or other armed conflict, revolution, a national necessity state of insurrection, riot or unrest because of the other Contracting Party shall suffer losses in the territory of the Parties one investor to make the other Contracting Party of the former, compensation, in relation to compensation or other solution, any third state investors will be subject to a no less favorable treatment than is permitted by the next Party.
None of the Contracting Parties outside the conditions specified below, shall take any expropriation or nationalization measures against the investment of an investor of the other Contracting Party.
(A) to legal or public interest in the legal framework in force and the measures taken;
(B) non-discriminatory measures;
(C) the time these measures will be accompanied by adequate and effective compensation for conditions. Such compensation, the public learned of the confiscation process will correspond to the real market value immediately before. Such market value shall be determined in accordance with the practices and methods adopted internationally or that such a market value may be mutually agreed between can not be identified Contracting Parties this will be a reasonable amount like and this amount will be transferred freely from the Contracting Parties with money freely available. Any unreasonable delay in payment of compensation, both sides agreed on such a ratio is not regulated by law, will require a commercial rate of interest that is current.
Return of Investment
1. Each Party shall, in accordance with the laws and regulations, without unreasonable delay, with any currency which is freely available, will allow the transfer of the following:
(A) the net profits, dividends, royalty fees, technical assistance and technical fees, interest and technical fees, interest and other current proceeds are earnings arising from any investment of the other Contracting Party of the investor,
(B) all other Contracting Parties of any investment made by investors or gains derived from the liquidation of a portion
(C) a Contracting Party to the investors of the other Contracting Party of the investor and the price used in the repayment of loans recognized as investments by both Contracting Parties
(D) net earnings and other compensation of a Contracting Party regarding an investment by investors who are employed in the territory of the other Contracting Party.
2. This Article is applicable to the transfer of foreign exchange in paragraph 1 shall be valid currency transfer time.
3. The Contracting Parties to the transfers referred to in paragraph 1 of this Article, undertakes any third State of the presence of the transfer resulting from the investment in treatment as favorable treatment shown to investors.
Other Contracting Parties Between a Contracting Party and an investor
Settlement of Disputes
1. arising between an investor of the other Contracting Party by one of the Contracting Parties and disputes including:
(A) in that other Contracting Party with the investor âkittaraf any liability that may enter into force in relation to an investment of such an investor;
(B) granted under this Agreement in relation to an investment of such an investor or allegations of violations of any rights created,
It shall be resolved through friendly consultations and negotiations.
2. Such a dispute within six months from the date of notification of the dispute can not be settled amicably; Investors may submit the dispute to the following authorities:
a) the competent court according to the law of the Contracting Party investments made in the territory; or
b) to be resolved by conciliation or arbitration, opened for signature on 3.18.1965 in Washington State with other States citizens between the frame Solution Contract of Investment Disputes, the International for Settlement of Investment Disputes Centre (hereinafter the "Center" will be referred to as)
3. Each Party shall:
(A) The Secretary General of the Centre or the conciliation commission or arbitral tribunal established by him, unless you decide whether or not within the jurisdiction of the central disputes; or
(B) the other Contracting Party to comply with a decision by an arbitration tribunal or fail unless the issue of obedience;
Any dispute will be submitted for arbitration to resort to diplomatic means.
Settlement of Disputes between the Contracting Parties
1. Disputes between the present interpretation and implementation of the agreement by the Contracting Parties shall be settled through diplomatic channels as possible.
2. If a dispute between the Contracting Parties shall be settled in this way, upon the request of either Contracting Party shall be submitted to an arbitral tribunal.
3. Such a committee will be formed as follows for each case. the receipt of the request for arbitration, each Contracting Tarfa will choose a member of the committee within two months. These two members, the two Contracting Parties to a third country of their choice with the consent of citizens, will be appointed as Chairman of the delegation. The Chairman shall be appointed within two months from the date of appointment of the other two members. 4. have not been made necessary appointments within the period specified in paragraph 3 of this Article, either Contracting Party, in the absence of any other agreement, invite the International Court of Justice President to make the determinations necessary. If the President (President of the International Court of Justice), is a national of either Contracting Party or otherwise prevented from fulfilling the duties of Vice-President if the issues mentioned will be invited to make the necessary appointments. If the Vice President is a national of either Contracting Tarfa or prevented from fulfilling the aforementioned tasks, the most senior member of the International Court of Justice is not a citizen of either Contracting Party shall be invited to make the necessary appointments. 5. credited with the majority decision of the tribunal. Such a decision shall be binding for both Contracting Parties. In each Contracting Party shall bear the expenses of delegations represented in the arbitration process and its members; The costs of the Chairman and the remaining costs will be paid equally by the Contracting Parties. The arbitral tribunal may decide ex officio payment of a higher proportion of expenses by one of the two Contracting Parties and this award shall be binding on both Contracting Parties. The committee shall determine its own procedure.
1. If one of the Contracting Parties, has created a table of guarantee against non-commercial risks, any subrogation to the rights of investors of the other Contracting Party shall be recognized by the guarantor.
2. Guarantor, other than the rights will be entitled to exercise the investors will not be entitled to use any of the other rights.
3. uyuşmazlıka between the guarantor of a Contracting Party, the provisions of Article 6 of this Agreement shall be resolved within the framework.
Applies to invest the
This Agreement shall be implemented by the other Contracting Party in the territory of investors of either Contracting Party that besides investments made in accordance with the laws and regulations of the Contracting Party to investments made after the entry into force of this Agreement.
Entry into force, Duration and Termination
This Agreement, the Government of the Contracting Parties to each other after they reported that it has completed thirty from the date of entry into force of the constitutional need for the Agreement (30) shall enter into force the day after. Next date refers to the date on which the last notification letter is sent.
2. This Agreement shall remain in force for a period of ten years and shall remain in effect unless terminated in accordance with the third paragraph of this Article.
3. Each Party to the other Party in writing one (1), that in the year of termination notice before the end of the first decade of this Agreement or thereafter may be terminated at any time.
4. This is in connection with the Agreement expiration date of the previously made or realized investment provisions other of all Articles of this Agreement shall remain in force for a further ten years from the date of expiration of the question.
duly authorized representatives of the Parties to this Agreement, signed in peace.
On 02/25/1998 in Ankara, Turkish, Bahasa, Malaysia and English languages, all equally authentic. In case of divergence of interpretation the English text shall prevail.
ON BEHALF OF THE GOVERNMENT OF THE GOVERNMENT OF THE REPUBLIC OF MALAYSIA Sun Taner
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