2. Either Contracting Party may, by prior notification and after consultation, deny an investor of another Contracting Party and its investments which is a business enterprise of the other Contracting Party, the benefits of this Agreement if that enterprise is owned by or controlled by another non-contracting party which has no substantial commercial activities in the other Contracting Party.
Article 23.
1. This Convention shall enter into force thirty (30) days after the date of the last mutual notice through diplomatic channels confirming the termination of the necessary legal procedures for its entry into force and shall remain in force for a period of ten (10) years from the date of its entry into force and shall remain in force unless terminated as set out in paragraph (2). This Agreement shall apply to all investments of investors of either Contracting Party of the other Contracting Party established in accordance with the legislation of the other Contracting Party prior to the entry into force of this Agreement.
2. Either Contracting Party may, by written notification addressed to the other Contracting Party in advance of one year from the date of termination of the Agreement, terminate this Agreement by the end of the first ten years or at any other time thereafter.
3. Before the date of termination of this Agreement, the provisions of this Agreement shall remain in force for a period of ten (10) years from the date of their termination.
4. The provisions of this Convention shall not apply to claims and claims arising out of events that have occurred, or settled claims, prior to its entry into force.
Conclusion
In ratifying the foregoing, this Convention has been signed by the duly authorized representatives of their respective Governments to sign this Convention.
This Agreement was signed in Amman on Monday, 27/3/2017, in two original copies in Arabic, both of which are equally authentic.
For the Kingdom of Saudi Arabia, HE Dr. Sajid Bin Abdullah Al Qasabi, Minister of Trade and Investment and Chairman of the Board of Directors of the General Authority for Investment