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Arbitration (International Investment Disputes) Act 1966

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  1. Introductory Text

  2. Enforcement of Convention awards

    1. 1.Registration of Convention awards.

    2. 2.Effect of registration.

  3. Procedural provisions

    1. 3. Application of provisions of Arbitration Act 1996.

  4. Immunities and privileges

    1. 4.Status, immunities and privileges conferred by the Convention.

  5. Supplemental

    1. 5.Government contribution to expenses under the Convention.

    2. 6.Application to British possessions, etc.

    3. 7.Application to Scotland.

    4. 8.Application to Northern Ireland.

    5. 9.Short title and commencement.

    1. SCHEDULE

      TEXT OF CONVENTION

      1. CONVENTION ON THE SETTLEMENT OF INVESTMENT DISPUTES BETWEEN STATES AND NATIONALS OF OTHER STATES Preamble

        1. The Contracting States

        2. Considering the need for international co-operation for economic development, and...

        3. Bearing in mind the possibility that from time to time...

        4. Recognizing that while such disputes would usually be subject to...

        5. Attaching particular importance to the availability of facilities for international...

        6. Desiring to establish such facilities under the auspices of the...

        7. Recognizing that mutual consent by the parties to submit such...

        8. Declaring that no Contracting State shall by the mere fact...

        9. Have agreed as follows:

      2. CHAPTER I INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES

        1. SECTION I Establishment and Organization

          1. Article 1

            1. (1) There is hereby established the International Centre for Settlement...

            2. (2) The purpose of the Centre shall be to provide...

          2. Article 2

            1. The seat of the Centre shall be at the principal...

          3. Article 3

            1. The Centre shall have an Administrative Council and a Secretariat...

        2. SECTION 2 The Administrative Council

          1. Article 4

            1. (1) The Administrative Council shall be composed of one representative...

            2. (2) In the absence of a contrary designation, each governor...

          2. Article 5

            1. The President of the Bank shall be ex officio Chairman...

          3. Article 6

            1. (1) Without prejudice to the powers and functions vested in...

          4. Article 7

            1. (1) The Administrative Council shall hold an annual meeting and...

            2. (2) Each member of the Administrative Council shall have one...

            3. (3) A quorum for any meeting of the Administrative Council...

            4. (4) The Administrative Council may establish, by a majority of...

          5. Article 8

            1. Members of the Administrative Council and the Chairman shall serve...

        3. SECTION 3 The Secretariat

          1. Article 9

            1. The Secretariat shall consist of a Secretary-General, one or more...

          2. Article 10

            1. (1) The Secretary-General and any Deputy Secretary-General shall be elected...

            2. (2) The offices of Secretary-General and Deputy Secretary-General shall be...

            3. (3) During the Secretary-General’s absence or inability to act, and...

          3. Article 11

            1. The Secretary-General shall be the legal representative and the principal...

        4. SECTION 4 The Panels

          1. Article 12

            1. The Panel of Conciliators and the Panel of Arbitrators shall...

          2. Article 13

            1. (1) Each Contracting State may designate to each Panel four...

            2. (2) The Chairman may designate ten persons to each Panel....

          3. Article 14

            1. (1) Persons designated to serve on the Panels shall be...

            2. (2) The Chairman, in designating persons to serve on the...

          4. Article 15

            1. (1) Panel members shall serve for renewable periods of six...

            2. (2) In case of death or resignation of a member...

            3. (3) Panel members shall continue in office until their successors...

          5. Article 16

            1. (1) A person may serve on both Panels.

            2. (2) If a person shall have been designated to serve...

            3. (3) All designations shall be notified to the Secretary-General and...

        5. SECTION 5 Financing the Centre

          1. Article 17

            1. If the expenditure of the Centre cannot be met out...

        6. SECTION 6 Status, Immunities and Privileges

          1. Article 18

            1. The Centre shall have full international legal personality. The legal...

          2. Article 19

            1. To enable the Centre to fulfil its functions, it shall...

          3. Article 20

            1. The Centre, its property and assets shall enjoy immunity from...

          4. Article 21

            1. The Chairman, the members of the Administrative Council, persons acting...

          5. Article 22

            1. The provisions of Article 21 shall apply to persons appearing...

          6. Article 23

            1. (1) The archives of the Centre shall be inviolable, wherever...

            2. (2) With regard to its official communications, the Centre shall...

          7. Article 24

            1. (1) The Centre, its assets, property and income, and its...

            2. (2) Except in the case of local nationals, no tax...

            3. (3) No tax shall be levied on or in respect...

      3. CHAPTER II JURISDICTION OF THE CENTRE

        1. Article 25

          1. (1) The jurisdiction of the Centre shall extend to any...

        2. Article 26

          1. Consent of the parties to arbitration under this Convention shall,...

        3. Article 27

          1. (1) No Contracting State shall give diplomatic protection, or bring...

          2. (2) Diplomatic protection, for the purposes of paragraph (1), shall...

      4. CHAPTER III CONCILIATION

        1. SECTION 1 Request for Conciliation

          1. Article 28

            1. (1) Any Contracting State or any national of a Contracting...

            2. (2) The request shall contain information concerning the issues in...

            3. (3) The Secretary-General shall register the request unless he finds,...

        2. SECTION 2 Constitution of the Conciliation Commission

          1. Article 29

            1. (1) The Conciliation Commission (hereinafter called the Commission) shall be...

            2. (2) (a) The Commission shall consist of a sole conciliator...

            3. (b) Where the parties do not agree upon the number...

          2. Article 30

            1. If the Commission shall not have been constituted within 90...

          3. Article 31

            1. (1) Conciliators may be appointed from outside the Panel of...

            2. (2) Conciliators appointed from outside the Panel of Conciliators shall...

        3. SECTION 3 Conciliation Proceedings

          1. Article 32

            1. (1) The Commission shall be the judge of its own...

            2. (2) Any objection by a party to the dispute that...

          2. Article 33

            1. Any conciliation proceeding shall be conducted in accordance with the...

          3. Article 34

            1. (1) It shall be the duty of the Commission to...

            2. (2)If the parties reach agreement, the Commission shall draw up...

          4. Article 35

            1. Except as the parties to the dispute shall otherwise agree,...

      5. CHAPTER IV ARBITRATION

        1. SECTION 1 Request for Arbitration

          1. Article 36

            1. (1) Any Contracting State or any national of a Contracting...

            2. (2) The request shall contain information concerning the issues in...

            3. (3) The Secretary-General shall register the request unless he finds,...

        2. SECTION 2 Constitution of the Tribunal

          1. Article 37

            1. (1) The Arbitral Tribunal (hereinafter called the Tribunal) shall be...

            2. (2) (a) The Tribunal shall consist of a sole arbitrator...

            3. (b) Where the parties do not agree upon the number...

          2. Article 38

            1. If the Tribunal shall not have been constituted within 90...

          3. Article 39

            1. The majority of the arbitrators shall be nationals of States...

          4. Article 40

            1. (1) Arbitrators may be appointed from outside the Panel of...

            2. (2) Arbitrators appointed from outside the Panel of Arbitrators shall...

        3. SECTION 3 Powers and Functions of the Tribunal

          1. Article 41

            1. (1) The Tribunal shall be the judge of its own...

            2. (2) Any objection by a party to the dispute that...

          2. Article 42

            1. (1) The Tribunal shall decide a dispute in accordance with...

            2. (2) The Tribunal may not bring in a finding of...

            3. (3) The provisions of paragraphs (1) and (2) shall not...

          3. Article 43

            1. Except as the parties otherwise agree, the Tribunal may, if...

          4. Article 44

            1. Any arbitration proceeding shall be conducted in accordance with the...

          5. Article 45

            1. (1) Failure of a party to appear or to present...

            2. (2) If a party fails to appear or to present...

          6. Article 46

            1. Except as the parties otherwise agree, the Tribunal shall, if...

          7. Article 47

            1. Except as the parties otherwise agree, the Tribunal may, if...

        4. SECTION 4 The Award

          1. Article 48

            1. (1) The Tribunal shall decide questions by a majority of...

            2. (2) The award of the Tribunal shall be in writing...

            3. (3) The award shall deal with every question submitted to...

            4. (4) Any member of the Tribunal may attach his individual...

            5. (5) The Centre shall not publish the award without the...

          2. Article 49

            1. (1) The Secretary-General shall promptly dispatch certified copies of the...

            2. (2) The Tribunal upon the request of a party made...

        5. SECTION 5 Interpretation, Revision and Annulment of the Award

          1. Article 50

            1. (1) If any dispute shall arise between the parties as...

            2. (2) The request shall, if possible, be submitted to the...

          2. Article 51

            1. (1) Either party may request revision of the award by...

            2. (2) The application shall be made within 90 days after...

            3. (3) The request shall, if possible, be submitted to the...

            4. (4) The Tribunal may, if it considers that the circumstances...

          3. Article 52

            1. (1) Either party may request annulment of the award by...

            2. (2) The application shall be made within 120 days after...

            3. (3) On receipt of the request the Chairman shall forthwith...

            4. (4) The provisions of Articles 41-45, 48, 49, 53 and...

            5. (5) The Committee may, if it considers that circumstances so...

            6. (6) If the award is annulled the dispute shall, at...

        6. SECTION 6 Recognition and Enforcement of the Award

          1. Article 53

            1. (1) The award shall be binding on the parties and...

            2. (2) For the purposes of this Section, “award” shall include...

          2. Article 54

            1. (1) Each Contracting State shall recognize an award rendered pursuant...

            2. (2) A party seeking recognition or enforcement in the territories...

            3. (3) Execution of the award shall be governed by the...

          3. Article 55

            1. Nothing in Article 54 shall be construed as derogating from...

      6. CHAPTER V REPLACEMENT AND DISQUALIFICATION OF CONCILIATORS AND ARBITRATORS

        1. Article 56

          1. (1) After a Commission or a Tribunal has been constituted...

          2. (2) A member of the Commission or Tribunal shall continue...

          3. (3) If a conciliator or arbitrator appointed by a party...

        2. Article 57

          1. A party may propose to a Commission or Tribunal the...

        3. Article 58

          1. The decision on any proposal to disqualify a conciliator or...

      7. CHAPTER VI COST OF PROCEEDINGS

        1. Article 59

          1. The charges payable by the parties for the use of...

        2. Article 60

          1. (1) Each Commission and each Tribunal shall determine the fees...

          2. (2) Nothing in paragraph (1) of this Article shall preclude...

        3. Article 61

          1. (1) In the case of conciliation proceedings the fees and...

          2. (2) In the case of arbitration proceedings the Tribunal shall,...

      8. CHAPTER VII PLACE OF PROCEEDINGS

        1. Article 62

          1. Conciliation and arbitration proceedings shall be held at the seat...

        2. Article 63

          1. Conciliation and arbitration proceedings may be held, if the parties...

      9. CHAPTER VIII DISPUTES BETWEEN CONTRACTING STATES

        1. Article 64

          1. Any dispute arising between Contracting States concerning the interpretation or...

      10. CHAPTER IX AMENDMENT

        1. Article 65

          1. Any Contracting State may propose amendment of this Convention. The...

        2. Article 66

          1. (1) If the Administrative Council shall so decide by a...

          2. (2) No amendment shall affect the rights and obligations under...

      11. CHAPTER X FINAL PROVISIONS

        1. Article 67

          1. This Convention shall be open for signature on behalf of...

        2. Article 68

          1. (1) This Convention shall be subject to ratification, acceptance or...

          2. (2) This Convention shall enter into force 30 days after...

        3. Article 69

          1. Each Contracting State shall take such legislative or other measures...

        4. Article 70

          1. This Convention shall apply to all territories for whose international...

        5. Article 71

          1. Any Contracting State may denounce this Convention by written notice...

        6. Article 72

          1. Notice by a Contracting State pursuant to Article 70 or...

        7. Article 73

          1. Instruments of ratification, acceptance or approval of this Convention and...

        8. Article 74

          1. The depositary shall register this Convention with the Secretariat of...

        9. Article 75

          1. The depositary shall notify all signatory States of the following:...

          2. Done at Washington in the English, French and Spanish languages,...

          3. (Here follow the signatures)

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