Type of Obligation: National Treatment. Most-Favoured-Nation Treatment. Performance Requirements. Senior Management and Board of Directors
Description of Measure
Thailand reserves the right to adopt or maintain any measure relating to investment in service sectors.
Source of Measure
19. Sector: All sectors
Subsector -
Industry Classification -
Level of Government: All levels
Type of Obligation: National Treatment. Most-Favoured-Nation Treatment. Performance Requirements. Senior Management and Board of Directors
Description of Measure
Thailand reserves the right to adopt or maintain any measure under Investment Promotion Act B.E. 2520 (1977), as amended, and its subsidiary legislation, regulations and announcements and National Competitiveness Enhancement for the Targeted Industries Act B.E. 2560 (2017), as amended, and its subsidiary legislation, regulations and announcements.
Source of Measure
- Investment Promotion Act B.E. 2520 (1977), as amended, and its subsidiary legislation, regulations and announcements issued thereunder
- National Competitiveness Enhancement for the Targeted Industries Act B.E. 2560 (2017), as amended, and its subsidiary legislation, regulations and announcements issued thereunder
ANNEX 9B. SCHEDULE OF RESERVATIONS AND NON-CONFORMING MEASURES FOR INVESTMENT. SRI LANKA
LIST A. Explanatory Notes
1. This Schedule is made pursuant to Chapter 9 (Investment) only. Any commitment of Sri Lanka made pursuant to Chapter 8 (Trade in Services) is found in Sri Lanka's Schedule in Annex 8B (Schedule of Specific Commitments - Sri Lanka).
2. For the purposes of liberalisation, the Chapter 9 (Investment) shall apply to investment, subject to Article 9.9 (Reservations and Non-Conforming Measures), in the following non-service sectors:
(a) manufacturing;
(b) agriculture;
(c) fisheries;
(d) forestry; and
(e) mining and quarrying.
3. List A sets out, pursuant to Article 9.9 (Reservations and Non-Conforming Measures), Sri Lanka's measures that do not conform to the obligations under:
(a) Article 9.3 (National Treatment);
(b) Article 9.4 (Most-Favoured Nation Treatment);
(c) Article 9.7 (Performance Requirements); or
(d) Article 9.8 (Senior Management and Board of Directors).
4. List A and List B, pursuant to Article 9.9 (Reservations and Non-Conforming Measures), follow the negative list with two-list approach as follows:
(a) List A sets out commitments in relation to existing non-conforming measures. Paragraph 1 of Article 9.9 (Reservations and Non-Conforming Measures) applies to this List only; and
(b) List B sets out policy flexibility in relation to measures in sectors, subsectors, and activities.
5. Sri Lanka may add, withdraw or modify any of its reservations as set out in List A for a period of 24 months from the date of entry into force of this Agreement, provided that relevant non-conforming measure is in existence as of that date. Any such addition, withdrawal or modification will be notified to Thailand, including the relevant laws and regulations. Such reservation shall be deemed to be part of this Schedule upon such notification.
6. Each entry in List A shall set out the following elements, where applicable: (a) Sector refers to sector or sectors for which an entry is made;
(b) Subsector refers to specific industries, products, and activities for which an entry is made;
(c) Industry Classification refers to the activities covered by the entry according to the International Standard Industrial Classification (ISIC) Revision 4. As necessary and appropriate, Sri Lanka may specify the exact coverage of the entry if the entry does not exactly conform to the classification system;
(d) Level of Government specifies the level of government (e.g., Central, Regional, Provincial or Local) maintaining the measure for which an entry is made;
(e) Type of Obligation refers to the obligation of Article 9.3 (National Treatment), Article 9.4 (Most-Favoured-Nation Treatment), Article 9.7 (Performance Requirements) or Article 9.8 (Senior Management and Board of Directors), as the case may be, which does not apply to the listed measure;
(f) Description of Measure describes measures that do not conform to Article 9.3 (National Treatment), Article 9.4 (Most-Favoured-Nation Treatment), Article 9.7 (Performance Requirements), or Article 9.8 (Senior Management and Board of Directors) for which an entry is made; and
(g) Source of Measure is identified for transparency purposes only, for existing measures that apply to the sector, subsector, or activity covered by the entry.
7. Inthe interpretation of any entry, all elements of the entry shall be considered. The Description of Measure element shall prevail over all other elements.
8. These Explanatory Notes form an integral part of List A.
1. Sector: Fisheries
Subsector(s): Coastal Fishing
Industry Classification -
Level of Government: All levels
Type of Obligation National Treatment
Description of Measure
Non-resident investors (1) are not permitted to invest in voting shares of a company engaged in any activity related to coastal fishing.
Source of Measure
- Fisheries and Aquatic Resources Act No. 2 of 1996
- Foreign Exchange Act No. 12 of 2017
and their subsequent amendments, subsidiary legislation, regulations, and orders.
2. Sector: Manufacturing
Subsector(s): Lotteries (including manufacture of lotteries)
Industry Classification -
Level of Government: All levels
Type of Obligation: National Treatment. Senior Management and Board of Directors
Description of Measure
Only the relevant Legal or Administrative Authority established by the Government of Sri Lanka can approve the foreign shareholding percentage of an incorporated company engaged in the manufacture of Lotteries.
Source of Measure
- Development Lotteries Board Act No. 20 of 1997
- National Lotteries Board Act No. 11 of 1963
- Foreign Exchange Act No.12 of 2017
and their subsequent amendments, subsidiary legislation, regulations, and orders.
3. Sector: Manufacturing
Subsector(s): Arms and Explosives
Industry Classification -
Level of Government: All levels
Obligations Concerned: National Treatment. Prohibition of Performance Requirements. Senior Management and Board of Directors
Description
Only the relevant Legal or Administrative Authority established by the Government of Sri Lanka can approve the foreign shareholding percentage of an incorporated company engaged in the manufacture of arms and explosives.
Existing Measures
Explosives Act No. 21 of 1956
Industrial Promotion Act No. 46 of 1990
Foreign Exchange Act No. 12 of 2017
and their subsequent amendments, subsidiary legislation, regulations, and orders.
LIST B. Explanatory Notes
1. This Schedule is made pursuant to Chapter 9 (Investment) only. Any commitment of Sri Lanka made pursuant to Chapter 8 (Trade in Services) is found in Sri Lanka's Schedule in Annex 8B (Schedule of Specific Commitments).
2. For the purposes of liberalisation, Chapter 9 (Investment) shall apply to investment, subject to Article 9.9 (Reservations and Non-Conforming Measures), in the following non-service sectors:
(i) manufacturing;
(ii) agriculture;
(iii) fisheries;
(iv) forestry; and
(v) mining and quarrying
3. List B sets out, pursuant to Article 9.9 (Reservations and Non- Conforming Measures), Sri Lanka's measures that do not conform to the obligations under:
(a) Article 9.3 (National Treatment);
(b) Article 9.4 (Most-Favoured-Nation Treatment);
(c) Article 9.7 (Performance Requirements); or
(d) Article 9.8 (Senior Management and Board of Directors).
4. List A and List B pursuant to Article 9.9 (Reservations and Non- Conforming Measures) follow the negative list with two-list approach as follows:
(a) List A sets out commitments in relation to existing non- conforming measures. Paragraph 1 of Article 9.9 (Reservations and Non- Conforming Measures) applies to this List only; and
(b) List B sets out policy flexibility in relation to measures in sectors, subsectors, and activities.
5. Each entry in List B sets out the following elements, where applicable:
(a) Sector refers to the sector or sectors for which an entry is made;
(b) Subsector refers to the specific industries, products, and activities for which the entry is made;
(c) Industry Classification refers to the activity covered by the entry, according to the International Standard Industrial Classification (ISIC) Revision 4.
As necessary and appropriate, Sri Lanka may specify the exact coverage of the entry if the entry does not exactly conform to the classification system;
(d) Level of Government specifies the level of government (e.g., Central, Regional, Provincial or Local) maintaining the measure for which the entry is made;
(e) Type of Obligation refers to the obligations of Article 9.3 (National Treatment), Article 9.4 (Most-Favoured-Nation Treatment), Article 9.7 (Performance Requirements) or Article 9.8 (Senior Management and Board of Directors), as the case may be, which does not apply to the listed measure;
(f) Description of Measure describes measures that do not conform to Article XX.3 (National Treatment), Article 9.4 (Most-Favoured-Nation Treatment), Article 9.7 (Performance Requirements), or Article 9.8 (Senior Management and Board of Directors) for which the entry is made; and
(g) Source of Measure is identified for transparency purposes only, for existing measures that apply to the sector, subsector, or activity covered by the entry.
6. In the interpretation of any entry, all elements of the entry shall be considered. The Description of Measure element shall prevail over all other elements.
7. These Explanatory Notes form an integral part of List B.
1. Sector: Agriculture
Sub-Sector -
Industry Classification -
Level of Government: All levels
Type of Obligation: National Treatment. Performance Requirements. Senior Management and Board of Directors
Description of Measure
Sri Lanka reserves the right to adopt or maintain any measure with respect to an investor or investment in any activity related to agriculture.
Source of Measure
2. Sector: Forestry
Sub-Sector -
Industry Classification -
Level of Government: All levels
Type of Obligation: National Treatment. Performance Requirements Senior Management and Board of Directors
Description of Measure
Sri Lanka reserves the right to adopt or maintain any measure with respect to an investor or investment in any activity related to forestry.
Source of Measure
3. Sector: Fisheries
Sub-Sector -
Industry Classification -
Level of Government: All levels
Type of Obligation: National Treatment. Performance Requirements. Senior Management and Board of Directors
Description of Measure
Sri Lanka reserves the right to adopt or maintain any measure with respect to an investor or investment in any activity related to fisheries.
Source of Measure
4. Sector: Mining and Quarrying
Sub-Sector -
Industry Classification -
Level of Government: All levels
Type of Obligation: National Treatment. Performance Requirements. Senior Management and Board of Directors
Description of Measure
Sri Lanka reserves the right to adopt or maintain any measure with respect to an investor or investment in any activity related to mining and quarrying.
Source of Measure
5. Sector: Energy
Sub-Sector -
Industry Classification -
Level of Government: All levels
Type of Obligation: National Treatment. Performance Requirements. Senior Management and Board of Directors