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2010-11-14 | BWBV0002598 | Overeenkomst tot oprichting van het Multilaterale Agentschap voor Investeringsgaranties

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Coornhert 2010-11-14 12:00:00 +00:00
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verdrag/overeenkomst-tot-oprichting-van-het-multilaterale-agentschap-voor-investeringsga/BWBV0002598/README.md
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@ -122,7 +122,7 @@ any repudiation or breach by the host government of a contract with the holder o
any military action or civil disturbance in any territory of the host country to which this Convention shall be applicable as provided in Article 66.
**(b).** Upon the joint application of the investor and the host country, the Board, by special majority, may approve the extension of coverage under this Article to specific non-commercial risks other than those referred to in Section (a) above, but in no case to the risk of devaluation or depreciation of currency.
**(b).** In addition, the Board, by special majority, may approve the extension of coverage under this Article to specific non-commercial risks other than those referred to in Section (a) above, but in no case to the risk of devaluation or depreciation of currency.
**(c).**
@ -135,17 +135,23 @@ Losses resulting from the following shall not be covered:
**(a).** Eligible investments shall include equity interests, including medium- or long-term loans made or guaranteed by holders of equity in the enterprise concerned, and such forms of direct investment as may be determined by the Board.
**(b).** The Board, by special majority, may extend eligibility to any other medium- or long-term form of investment, except that loans other than those mentioned in Section (a) above may be eligible only if they are related to a specific investment covered or to be covered by the Agency.
**(b).** Loans other than those mentioned in Section (a) are eligible for coverage (i) if they are made to fmance or are otherwise related to a specific investment or project in which some other form of direct investment is present, whether or not guaranteed by the Agency and regardless of when such other investment was made, or (ii) as may be otherwise approved by the Board by special majority.
**(c).**
Guarantees shall be restricted to investments the implementation of which begins subsequent to the registration of the application for the guarantee by the Agency. Such investments may include:
(i) any transfer of foreign exchange made to modernize, expand, or develop an existing investment; and
(ii) the use of earnings from existing investments which could otherwise be transferred outside the host country.
**(c).** The Board, by special majority, may extend eligibility to any other medium- or long-term form of investment.
**(d).**
Guarantees shall generally be restricted to investments the implementation of which begins subsequent to the registration of the application for the guarantee by the Agency or receipt by the Agency of other satisfactory evidence of investor intent to obtain guarantees from the Agency. Such investments may include:
(i) a transfer of foreign exchange made to modernize, expand, or develop an existing investment, in which case both the original investment and the additional investment may be considered eligible for coverage;
(ii) the use of earnings from existing investments which could otherwise be transferred outside the host country;
(iii) the acquisition of an existing investment by a new eligible investor;
(iv) existing investments where an eligible investor is seeking to insure a pool of existing and new investments;
(v) existing investments owned by an eligible investor where there is an improvement or enhancement of the underlying project or the investor otherwise demonstrates medium- or long-term commitment to the project, and the Agency is satisfied that the project continues to have a high developmental impact in the host country; and
(vi) such other investments as may be approved by the Board by special majority.
**(e).**
In guaranteeing an investment, the Agency shall satisfy itself as to:
(i) the economic soundness of the investment and its contribution to the development of the host country;