(b) auditing work experience and qualifications; and
(c) accounting and auditing standards, as soon as possible.
2. The Parties shall commence negotiation on a Mutual Recognition Arrangement ("MRA") for qualifications or experience obtained, requirements met, or licenses or certifications for architects following the entry into force of this Agreement, with a view to reaching such an MRA as soon as possible, and exploring the possibilities for expanding the MRA to other architectural and engineering areas.
Article 68. Joint Committee on Recognition Co-operation
1. For the purposes of effective implementation of Article 67 (Recognition Co-operation), a Joint Committee on Recognition Co-operation (the "Committee"), including a working group on accounting and auditing, shall be established. The functions of the Committee shall be:
(a) reviewing and discussing the issues concerning the effective implementation of Article 67 (Recognition Co-operation);
(b) identifying and recommending areas for and ways of furthering co-operation between the Parties; and
(c) discussing other issues relating to the implementation of Article 67 (Recognition Co-operation).
2. The Committee, including the working group on accounting and auditing, shall meet on the request of either Party or the FTA Joint Committee established under Article 111 (Implementation and Review) at mutually acceptable time and venue.
Article 69. Monopolies and Exclusive Service Suppliers
1. Each Party shall ensure that any monopoly supplier of a service in its territory does not, in the supply of the monopoly service in the relevant market, act in a manner inconsistent with that Party's specific commitments.
2. Where a Party's monopoly supplier competes, either directly or through an affiliated company, in the supply of a service outside the scope of its monopoly rights and which is subject to that Party's specific commitments, the Party shall ensure that such a supplier does not abuse its monopoly position to act in its territory in a manner inconsistent with such commitments.
3. If a Party has reason to believe that a monopoly supplier of a service of the other Party is acting in a manner inconsistent with paragraph 1 or 2, it may request the other Party establishing, maintaining or authorising such supplier to provide specific information concerning the relevant operations.
4. This Article shall also apply to cases of exclusive service suppliers, where a Party, formally or in effect:
(a) authorises or establishes a small number of service suppliers; and
(b) substantially prevents competition among those suppliers in its territory.
Article 70. Business Practices
1. The Parties recognise that certain business practices of service suppliers, other than those falling under Article 69 (Monopolies and Exclusive Service Suppliers), may restrain competition and thereby restrict trade in services.
2. A Party shall, at the request of the other Party, enter into consultations with a view to eliminating practices referred to in paragraph 1. The Party addressed shall accord full and sympathetic consideration to such a request and shall co-operate through the supply of publicly available non-confidential information of relevance to the matter in question. The Party addressed shall also provide other information available to the requesting Party, subject to its domestic laws and to the conclusion of satisfactory agreement concerning the safeguarding of its confidentiality by the requesting Party.
Article 71. Safeguard Measures
The Parties note the multilateral negotiations pursuant to Article X of the GATS on the question of emergency safeguard measures based on the principle of non-discrimination. Upon the conclusion of such multilateral negotiations, the Parties shall conduct a review for the purpose of discussing appropriate amendments to this Agreement so as to incorporate the results of such multilateral negotiations.
Article 72. Payments and Transfers
1. Except under the circumstances envisaged in Article 107 (Restrictions to Safeguard the Balance-of-Payments), a Party shall not apply restrictions on international transfers and payments for current transactions relating to its specific commitments.
2. Nothing in this Agreement shall affect the rights and obligations of the Parties as members of the International Monetary Fund under the Articles of Agreement of the International Monetary Fund (the "Articles of Agreement"), including the use of exchange actions which are in conformity with the Articles of Agreement, provided that a Party shall not impose restrictions on any capital transactions inconsistently with its specific commitments regarding such transactions, except under Article 107 (Restrictions to Safeguard the Balance-of-Payments) or at the request of the International Monetary Fund.
Article 73. Transparency
Article III of the GATS is, mutatis mutandis, incorporated into and shall form an integral part of this Agreement.
Article 74. Disclosure of Confidential Information
Nothing in this Chapter shall require any Party to provide confidential information, the disclosure of which would impede law enforcement, or otherwise be contrary to the public interest, or which would prejudice legitimate commercial interests of particular enterprises, public or private.
Article 75. Denial of Benefits
A Party may deny the benefits of this Agreement:
(a) to the supply of a service, if it establishes that the service is supplied from or in the territory of a non-Party;
(b) in the case of the supply of a maritime transport service, if it establishes that the service is supplied:
(i) by a vessel registered under the laws of a non-Party; and
(ii) by a person of a non-Party which operates and/or uses the vessel in whole or in part.
(c) to a service supplier that is a juridical person, if it establishes that it is not a service supplier of the other Party.
Article 76. Miscellaneous Provisions
The GATS Annexes, namely: the Annex on Movement of Natural Persons Supplying Services; the Annex on Air Transport Services; the Annex on Financial Services; and the Annex on Telecommunications, shall be incorporated, mutatis mutandis, into and form an integral part of this Agreement.
Chapter 9. Movement of Natural Persons
Article 77. Definitions
For the purposes of this Chapter:
(a) business visitor means a natural person of either Party who is:
(i) a service seller being a natural person who is a sales representative of a service supplier of that Party and is seeking temporary entry into the territory of the other Party for the purpose of negotiating the sale of services for that service supplier, where such representative will not be engaged in making direct sales to the general public or in supplying services directly; or
(ii) (A) an investor of a Party, being a natural person of a Party who is making or has made an investment in the territory of the other Party; or
(B) a duly authorised representative of an investor of a Party (including a juridical person of a Party that is making or has made an investment in the territory of the other Party), seeking temporary entry into the territory of the other Party to establish, expand, monitor, or dispose of an investment of that investor; or
(iii) a goods seller, being a natural person who is seeking temporary entry to the territory of the other Party to negotiate the sale of goods where such negotiations do not involve direct sales to the general public;
(b) contractual service supplier means a natural person of a Party who:
(i) is an employee of a service supplier or an enterprise of a Party, whether a company, partnership or firm, who enters the territory of the other Party temporarily in order to perform a service pursuant to a contract between his employer and a service consumer in the territory of the other Party;
(ii) is employed by a company, partnership or firm of the Party, which has no commercial presence in the territory of the other Party where the service is to be provided;
(iii) receives his or her remuneration from that employer; and
(iv) satisfies any other requirements under the domestic laws and regulations of the other Party to provide such services in the territory of that Party;
(c) executive means a natural person within an organisation who primarily directs the management of the organisation, exercises wide latitude in decision making, and receives only general supervision or direction from higher level executives, the board of directors or stockholders of the business. An executive would not directly perform tasks related to the actual provision of the service or the operation of an investment;
(d) immigration formality means a visa, permit, pass, or other document or electronic authority granting a natural person of one Party the right to enter, reside or work in the territory of the other Party;
(e) immigration measure means any law, regulation, policy or procedure affecting the entry and sojourn of foreign nationals;
(f) intra-corporate transferee means an executive, a manager, or a specialist as defined respectively in sub-paragraphs (c), (g) and (h) of this Article, who is an employee of a service supplier or investor of a Party with a commercial presence, as defined in Chapter 8 (Trade in Services), in the territory of the other Party;
(g) manager means a natural person within an organisation who primarily directs the organisation or a department or sub-division of the organisation, supervises and controls the work of other supervisory, professional or managerial employees, has the authority to hire and fire or take other personnel actions (such as promotion or leave authorisation), and exercises discretionary authority over day-to-day operations. For greater clarity, this does not include employees who primarily perform tasks necessary for the provision of the service;
(h) specialist means a natural person within an organisation who possesses knowledge at an advanced level of technical expertise, and who possesses proprietary knowledge of the organisation's service, research equipment, techniques or management; and
(i) temporary entry means entry by a business visitor, an intra-corporate transferee, or a contractual service supplier, as the case may be, without the intent to establish permanent residence and for the purpose of engaging in activities which are clearly related to their respective business purposes. Additionally, in the case of a business visitor, the salaries of and any related payments to such a visitor should be paid entirely by the service supplier or juridical person which employs that visitor in the visitor's home country.
Article 78. Objectives
The objective of this Chapter, which reflects the preferential trading relationship between the Parties and their mutual desire to facilitate temporary entry of natural persons, is to establish transparent criteria and streamlined procedures for temporary entry, while recognising the need to ensure border security and to protect the domestic labour force in the territories of the Parties.
Article 79. Scope
1. This Chapter applies to measures affecting the movement of natural persons of a Party into the territory of the other Party, where such persons are:
(a) business visitors;
(b) contractual services suppliers; or
(c) intra-corporate transferees.
2. Nothing in this Chapter, Chapter 8 (Trade in Services) or Chapter 10 (Investment) shall apply to measures pertaining to citizenship, nationality, residence or employment on a permanent basis.
3. Nothing contained in this Chapter, Chapter 8 (Trade in Services) or Chapter 10 (Investment) shall prevent a Party from applying measures to regulate the entry or temporary stay of natural persons of the other Party in its territory, including measures necessary to protect the integrity of its territory and to ensure the orderly movement of natural persons across its borders, provided such measures are not applied in a manner so as to nullify or impair the benefits accruing to the other Party under this Agreement (15).
Article 80. Expeditious Application Procedures
Each Party shall process expeditiously applications for immigration formalities from natural persons of the other Party, including further immigration formality requests or extensions thereof, so as to avoid unduly impairing or delaying trade in goods or services or conduct of investment activities under this Agreement. Each Party shall notify applicants for temporary entry, either directly or through their authorised representative or their prospective employer of the outcome of their applications, including the period of stay and other conditions.
Article 81. General Principles for Grant of Temporary Entry
1. The Parties may make commitments in respect of temporary entry of natural persons, as defined in Article 59 (Definitions).
2. Such commitments and the conditions governing them shall be inscribed in Annex 6 (Commitments on Temporary Entry of Natural Persons).
3. Where a Party makes a commitment under paragraphs 1 and 2, that Party shall grant temporary entry to the extent provided for in that commitment, provided that such natural persons are otherwise qualified under all applicable immigration measures.
4. In respect of the commitments on temporary entry in Annex 6 (Commitments on Temporary Entry of Natural Persons), unless otherwise specified therein, neither Party may:
(a) require labour certification tests, or other procedures of similar effect;
(b) impose or maintain any numerical restriction relating to temporary entry; or
(c) require labour market testing, economic needs testing or other procedures of similar effects as a condition for temporary entry.
5. Each Party shall limit any fees for processing applications for temporary entry of natural persons to the approximate cost of services rendered.
6. The temporary entry granted by virtue of this Chapter does not replace the requirements needed to carry out a profession or activity according to the specific laws and regulations in force in the territory of the Party authorising the temporary entry.
Article 82. Transparency
Each Party shall, upon modifying or amending an immigration measure that affects the temporary entry of natural persons, ensure that such modifications or amendments are promptly published and made available through electronic means or otherwise, in such a manner as will enable natural persons of the other Party to become acquainted with them.
Article 83. Contact Points
Each Party shall designate a contact point to facilitate communication and the effective implementation of this Chapter, and respond to inquiries from the other Party regarding regulations affecting the movement of natural persons between the Parties or on any matter covered by this Chapter, and shall provide details of this contact point to the other Party. The Parties shall notify each other promptly of any amendment to the details of their contact point. The contact point should identify and recommend areas for and ways of furthering co-operation in promoting increased movement of natural persons between the Parties.
Chapter 10. Investment
Section A. Investment
Article 1. Scope of Application
1. This Chapter applies to measures adopted or maintained by a Party relating to investors of the other Party and covered investments. (1)
2. A Party’s obligations under Section A (Investment) shall apply:
(a) to all levels of government or authorities of that Party; and
(b) to any non-governmental body when it exercises any governmental authority delegated to it by the government or authorities of that Party. (2)
3. This Chapter shall not apply to:
(a) subsidies or grants provided by a Party, or to any conditions attached to the receipt or continued receipt of such subsidies or grants, whether or not such subsidies or grants are offered exclusively to domestic investors and investments; and
(b) matters of taxation in the territory of either Party, except as set out in Article 19 (Taxation).
4. For greater certainty, this Chapter shall not bind a Party in relation to any act or fact that took place or any situation that ceased to exist before the date of entry into force of this Chapter.
Article 2. Relation to other Chapters
1. This Chapter shall not apply to measures adopted or maintained by a Party that are covered by Chapter 8 (Trade in Services) or Chapter 9 (Movement of Natural Persons).
2. Notwithstanding paragraph 1, Article 5 (Minimum Standard of Treatment), Article 7 (Expropriation and Compensation), Article 8 (Compensation for Losses), Article 9 (Transfers), Article 11 (Subrogation), Article 12 (Denial of Benefits), and Section B (Investor-State Dispute Settlement) shall apply, mutatis mutandis, to any measure affecting the supply of a service by a service supplier of a Party through commercial presence in the territory of the other Party, but only to the extent they relate to a covered investment.
Article 3. National Treatment (3)
1. Each Party shall accord to investors of the other Party treatment no less favourable than that it accords, in like circumstances, to its own investors with respect to the management, conduct, operation, and sale or other disposition of investments in its territory.
2. Each Party shall accord to covered investments treatment no less favourable than that it accords, in like circumstances, to investments in its territory of its own investors with respect to the management, conduct, operation, and sale or other disposition of investments.
Article 4. Most-Favoured-Nation Treatment (4)
1. Each Party shall accord to investors of the other Party treatment no less favourable than that it accords, in like circumstances, to investors of any non-Party with respect to the management, conduct, operation, and sale or other disposition of investments in its territory.
2. Each Party shall accord to covered investments treatment no less favourable than that it accords, in like circumstances, to investments in its territory of investors of any non-Party with respect to the management, conduct, operation, and sale or other disposition of investments.
3. The provisions of this Article shall not be construed so as to oblige one Party to extend to the investors of the other Party and covered investments any treatment, preference or privilege resulting from:
(a) any preferential treatment accorded to investors and their covered investments under any bilateral, regional or international agreements, that were initialled, signed or have entered into force prior to the entry into force of this Chapter; (5)
(b) any existing or future preferential treatment accorded to investors and their covered investment in any agreement or arrangement between or among ASEAN Member States; or
(c) any bilateral or multilateral international agreements involving:
(i) for China: aviation, fisheries, and maritime and services auxiliary to maritime, including salvage; and
(ii) for Singapore: aviation, maritime and services auxiliary to maritime, port, land transport, and telecommunication matters.
4. For greater certainty, the treatment referred to in this Article does not encompass dispute resolution mechanisms or procedures, such as those included in Section B (Investor-State Dispute Settlement), that are provided for in international investment or trade agreements.
Article 5. Minimum Standard of Treatment (6)
1. Each Party shall accord to covered investments fair and equitable treatment and full protection and security in accordance with customary international law.
2. For greater certainty, paragraph 1 prescribes the customary international law minimum standard of treatment of aliens as the minimum standard of treatment to be afforded to covered investments. The concepts of “fair and equitable treatment” and “full protection and security” do not require treatment and do not create substantive rights in addition to or beyond that which is required by that standard. The obligation in paragraph 1 to provide:
(a) “fair and equitable treatment” includes the obligation not to deny justice in criminal, civil, or administrative adjudicatory proceedings in accordance with due process of law; and
(b) “full protection and security” refers to the requirements on each Party to provide the level of police protection required under customary international law.
3. A determination that there has been a breach of another provision of this Chapter, or of a separate international agreement, does not establish that there has been a breach of this Article.
4. For greater certainty, the mere fact that a Party takes or fails to take an action that may be inconsistent with an investor’s expectations does not constitute a breach of this Article, even if there is loss or damage to the covered investment as a result.
Article 6. Non-Conforming Measures
1. For China, Article 3 (National Treatment) does not apply to:
(a) any existing non-conforming measures maintained within its territory; or
(b) the continuation or amendment of any non-conforming measure referred to in sub-paragraph (a).
2. For Singapore, Article 3 (National Treatment) shall not apply to:
(a) any measure relating to the collection, purification, treatment, disposal and distribution of water, including waste water; and
(b) any measure relating to real estate, including but not limited to the ownership, purchase, development, management, maintenance, use, enjoyment, sale or other disposal of real estate.
3. Articles 3 (National Treatment) and 4 (Most-Favoured-Nation Treatment) shall not apply to any measure covered by an exception to, or derogation from, the obligations under Articles 3 or 4 of the Agreement on Trade-related Aspects of Intellectual Property Rights in Annex 1C of the WTO Agreement (TRIPS Agreement), as specifically provided in those Articles and in Article 5 of the TRIPS Agreement.
4. Articles 3 (National Treatment) and 4 (Most-Favoured-Nation Treatment) do not apply to government procurement.
5. The Parties will endeavour to progressively remove the non-conforming measures.
Article 7. Expropriation and Compensation (7)
1. No Party may expropriate or nationalise a covered investment either directly or indirectly through measures equivalent to expropriation or nationalisation (“expropriation”), except:
(a) for a public purpose;
(b) in a non-discriminatory manner;
(c) on payment of compensation in accordance with this Article; and
(d) in accordance with applicable legal procedure of that Party and due process of law.
2. The compensation referred to in paragraph 1(c) shall:
(a) be paid without delay;
(b) be equivalent to the fair market value of the expropriated investment immediately before the expropriation took place (“the date of expropriation”);
(c) not reflect any change in value occurring because the intended expropriation had become known earlier; and
(d) be fully realisable and freely transferable.
3. If the fair market value is denominated in a freely usable currency, the compensation referred to in paragraph 1(c) shall be no less than the fair market value on the date of expropriation, plus interest at a commercially reasonable rate for that currency, accrued from the date of expropriation until the date of payment.
4. If the fair market value is denominated in a currency that is not freely usable, the compensation referred to in paragraph 1(c), converted into the currency of payment at the market rate of exchange prevailing on the date of payment, shall be no less than:
(a) the fair market value on the date of expropriation, converted into a freely usable currency at the market rate of exchange prevailing on that date, plus
(b) interest at a commercially reasonable rate, for that freely usable currency, accrued from the date of expropriation until the date of payment.
5. This Article does not apply to the issuance of compulsory licences granted in relation to intellectual property rights in accordance with the TRIPS Agreement, or to the revocation, limitation or creation of intellectual property rights, to the extent that such issuance, revocation, limitation or creation is consistent with the TRIPS Agreement.
6. Notwithstanding paragraphs 1 and 2, any measure of expropriation by a Party relating to land, which shall be as defined in its applicable domestic legislation, shall be for a purpose and upon payment of compensation at market value in accordance with the aforesaid legislation.