(c) investment for economic diversification including diversification of the agricultural sector;
(d) research, development and the transfer of technology in the development of disadvantaged countries; and
(e) capital flows from other Member States to disadvantaged countries through the conclusion of double taxation agreements and appropriate policy instruments.
Article 148. Measures Relating to the Services Sector
1. COTED, in establishing the programme for removal of restrictions by Member States on the provision of services in the Community mentioned in paragraph 2 of Article 37 shall give due consideration to the peculiar economic vulnerability of disadvantaged countries, bearing in mind Article 49.
2. Without prejudice to the generality of the provisions set out in paragraph 1 of this Article, COTED shall, in establishing the said programme, determine in respect of disadvantaged countries:
(a) a list of services in respect of which national treatment may not be applied for a specified period of time;
(b) the manner in which restrictions on services not mentioned in sub-paragraph (a) of this paragraph shall be removed:
Provided that such disadvantaged countries shail accord the Member States rights no more restrictive than those accorded to other parties of the WTO under the General Agreement on Trade in Services (GATS).
Article 149. Measures Relating to the Right of Establishment
1. COTED shall take appropriate measures to ensure that, in establishing the programme for the removal of restrictions by the Member Siates on the right of establishment in the Community mentioned in paragraph 3 of Article 33, the peculiar economic vulnerability of disadvantaged countries in the Community is taken into account, bearing in mind Article 49.
2. Without prejudice to the generality of the provisions of paragraph 1 of this Article, COTED shall, in establishing the said programme, determine in respect of disadvantaged countries:
(a) a list of economic activities in respect of which national treatment may not be accorded to persons exercising the right of establishment for a specified period of time;
(b) the manner in which restrictions on the right of establishment in respect of economic activities not mentioned in sub-paragraph (a) of this paragraph shall be removed:
Provided that such disadvantaged countries shail accord tothe Member States rights of establishment no more restrictive than those accorded to third States.
Article 150. Safeguard Measures
1. Where, in accordance with paragraph 1 of Article 92, a disadvantaged country establishes an entitlement to limit imports of goods from other Member States, then, notwithstanding any other provisions to the contrary in this Treaty, the disadvantaged country may limit such imports for a period of up to three (3) years unless COTED authorises the limitation for a longer period and take such other measures as COTED may authorise.
2. A disadvantaged country applying restrictions in accordance with paragraph 1 of this Article shall notify them to COTED, if possible, before they come into force. COTED may, at any time, consider those restrictions and shall, in light of such consideration, make recommendations designed to moderate any damaging effect of such restrictions or to assist the disadvantaged country to overcome its difficulties.
3. Nothing in this Treaty shall be construed as entitling any Member State to apply
safeguard measures against the products of Community origin of a disadvantaged country where such products do not exceed 20 per cent of the market of the importing Member State.
Article 151. Support for Sensitive Industries
1. COTED may authorise a Member State having a sensitive industry which can be disadvantaged by the operation of the CSME to suspend Community treatment to products of other Member Siates.
2. The suspension authorised in paragraph 1 of this Article shall be granted upon application to COTED in that behalf where the applicant establishes that the product is from a sensitive industry.
3. For the purpose of this Article, an industry may be considered to be sensitive by reason of its vulnerable nature and:
(a) the significance of its contribution to, inter alia:
(i) Gross Domestic Product;
(ii) employment;
(iii) foreign exchange earings; or
(b) its designation as vital within the national industrial policy.
4. Notwithstanding any other provisions of this Treaty, a disadvantaged country may, for the period of suspension decided upon by COTED, suspend Community treatment in respect of imports of like description from the Member State granted the suspension.
5. COTED, in authorising the suspension mentioned in paragraph 1 of this Article may impose terms and conditions for the grant of the suspension.
6. COTED shail monitor the progress of the industry concerned and undertake a Periodic review.
Article 152. Public Undertakings
Notwithstanding any provisions to the contrary in this Treaty, disadvantaged countries may, with the prior approval of COTED, maintain, in respect of public undertakings, measures, the effect of which is to afford support to domestic production where such measures are in the form of:
(a) a duty or charge having equivalent effect; or
(b) quantitative restrictions.
Article 153. Use of Technological and Research Facilities In Member States
1. The Member Siates undertake to provide opportunities for access to their technological and research facilities by nationals of disadvantaged countries.
2. COTED shall encourage close collaboration between research institutions and facilities located in disadvantaged countries with others located in other Member States.
Article 154. Promotion of Development
1. coted shail promote the establishment of infrastructure in a disadvantaged country, region or sector to encourage or stimulate economic activity.
2. COTED may also adopt measures for the establishment of new industries or for the retooling or expansion of existing industries in a disadvantaged country, region or sector.
Article 155. Special Provisions for Guyana
Notwithstanding any provisions to the contrary in this Treaty, Guyana shall be allowed, for as long as it continues to benefit from wheat imports under PL 480 Agreements with the United States of America, to impose quantitative restrictions on the importation of wheat flour.
Article 156. Application of the Special Regime to Highly- Indebted Poor Countries
COTED shall to the extent necessary and for a a period to be determined, apply the Provisions of the Special Regime for the less developed countries to Highly-indebted Poor Countries.
Article 157. Technical and Financial Assistance
1. As soon as practicable afterthe entry into force of this Treaty, the Community Council shall, in collaboration with other competent Organs of the Community, make adequate arrangements to extend to disadvantaged countries, regions and sectors such technical and financial assistance as may be required to allow them to participate effectively in the CSME and to administer international trade agreements.
2. Pursuant to paragraph 1 of this Article, COTED shall evaluate the need for technical and financial assistance to disadvantaged countries, regions and sectors, and promote and facilitate appropriate programmes and projects. Such assistance may include:
(a) grants or access to low-cost financing;
(b) preparation of project proposals for financing;
(c) performance guarantees and other guarantees to enterprises;
(d) accessing technology including information technology;
(e) product design or quality enhancement; a factory design and market development.
3. Technical assistance within the meaning of this Article may also include:
(a) assistance to establish or upgrade national standardising bodies;
(b) assistance to countries to advance their diversification programmes,
(c) Professional assistance in meeting obligations under trade-related agreements;
(d) assistance to establish institutions or centres for the training or retraining of employees as the case may require;
(e) Provision of relevant expertise to formulate a legal policy framework conducive to fair trading and fair competition;
(f) Professional expertise in espousing and defending claims arising in connection with the WTO Agreement and other trade-related agreements;
(g) Professional assistance in preparing for disputes resolution arising in connection with trade-related agreements;
(h) professional assistance in preparing legislation.
4. The evaluation mentioned in paragraph 2 of this Article may be undertaken by COTED on its own initiative, or in response to an application for assistance issuing from a Member State.
5. COTED shail, from time to time, examine the impact of the measures mentioned in Paragraph 2 with a view to determining their adequacy and establishing a time-frame for their discontinuance.
Article 158. The Development Fund
1. There is hereby established a Development Fund for the purpose of providing financial or technical assistance to disadvantaged countries, regions and sectors.
2. Subject to the provisions of this Article and relevant provisions of this Treaty, the Community Council, in collaboration with COFAP, shall:
(a) determine the status, composition and functions of the Development Fund;
(b) determine the contributions of the Member States to the Development Fund.
3. The Development Fund may accept subventions from public or private sector entities of the Member States or from other entities external to the Community. Subventions shall not be accepted nor applied by the Development Fund on conditions which discriminate against Member States, regions or sectors except in accordance with the provisions of this Treaty.
Article 159. Saving
Nothing in this Chapter shail be construed as disentitling a disadvantaged country, region or secior, being the beneficiary of any other technical assistance programme, from simultaneously benefiting from technical assistance pursuant to the provisions herein set forth.
Part THREE. SPECIAL REGIME FOR LESS DEVELOPED COUNTRIES
Article 160. Import Duties
Where a less developed country has suffered or is likely to suffer loss of revenue as a result of the importation of goods eligible for Community treatment, COTED may, on application made in that behalf by the less developed country, authorise the imposition of import duties on such goods for such time and on such terms and conditions as COTED may decide.
Article 161. Community Origin
The Member States agree that in the determination and operation of the criterion of substantial transformation pursuant to Article 84, the special needs of the less developed countries shall be taken into account.
Article 162. Incentive Regimes
The Member States agree that in the establishment of any programme for incentives in the Community provided for in Article 52 and Article 69, the special needs of the less developed countries shail be taken into account.
Article 163. The Common External Tariff
The Member States agree that in the implementation of the Common Extemal Tariff Provided for in Article 82, the special needs of the less developed countries shall be taken into account.
Article 164. Promotion of Industrial Development
1. Upon application made in that behalf by the less developed countries, COTED may, if necessary, as a temporary measure in order to promote the development of an industry in any of these States, authorise such States to suspend Community origin treatment to any description of imports eligible therefor on grounds of production in one or more less developed countries.
2. COTED may, in taking decisions pursuant to paragraph 1 of this Article, establish terms and conditions including a phasing-out period during which Member States and the Community shall provide support measures and the industry implement the necessary programmes for achieving competitiveness.
3. The grant of authorisation pursuant to paragraph 1 of this Article shall be by means of a decision supported by the affirmative votes of all the less developed countries and at least two of the more developed countries.
Article 165. Public Undertakings
Paragraph 1 of Article 94 Hall Not Apply to the Less Developed Countries.
Article 166. Use of Technological and Research Facilities
The more developed countries undertake to provide opportunities for the use of their technological and research facilities by the less developed countries.
Article 167. Special Provisions for Belize
Belize shail be allowed to impose import duties or quantitative restrictions on beer and cigarettes produced in the Community for a period ending 31 December 2000.
Chapter EIGHT. Competition Policy and Consumer Protection
Part ONE. RULES OF COMPETITION
Article 168. Scope of Chapter
The rules of competition shail not apply to -
(a) combinations or activities of employees for their own reasonable protection as employees;
(b) arrangements for collective bargaining on behalf of employers or employees for the purpose of fixing terms and conditions of employment;
(c) business conduct within the meaning of Article 177 duly notified to COTED in accordance with Article 170;
(d) negative clearance rulings within the meaning of Article 180 or exemptions within the meaning of Articles 181 and 183;
(e) activities of professional associations designed to develop or enforce Professional standards of competence reasonably necessary for the Protection of the public and approved by the Commission.
Article 169. Objectives of Community Competition Policy
1. The goal of the community competition policy shall be to ensure that the benefits expected from the establishment of the csme are not frustrated by anti-competitive business conduct.
2. in fulfilment of the goal set out in paragraph 1 of this article, the community shall pursue the following objectives:(a) the promotion and maintenance of competition and enhancement of economic efficiency in production, trade and commerce;
(b) subject to this Treaty, the prohibition of anti-competitive business conduct which prevents, restricts or distorts competition or which constitutes the abuse of a dominant position in the market; and
(c) the promotion of consumer welfare and protection of consumer interests.
Article 170. Implementation of Community Competition Policy
1. In order to achieve the objectives of the Community Competition Policy,
(a) the Community shall:
(i) subject to Articles 164, 177, 178 and 179 of this Treaty, establish appropriate norms and institutional arrangements to prohibit and penalise anti-competitive business conduct; and
(ii) establish and maintain information systems to enable enterprises and consumers to be kept informed about the operation of markets within the CSME;
(b) the Member States shall:
(i) take the necessary legislative measures to ensure consistency and compliance with the rules of competition and provide penalties for anti-competitive business conduct;
(ii) Provide for the dissemination of relevant information to facilitate consumer choice;
(iii) establish and maintain institutional arrangements and administrative procedures to enforce competition laws; and
(iv) take effective measures to ensure access by nationals of other Member States to competent enforcement authorities including the courts on an equitable, transparent and non-discriminatory basis.
2. Every Member State shail establish and maintain a national competition authority for the purpose of facilitating the implementation of the rules of competition.
3. Every Member State shall require its national competition authority to:
(a) co-operate with the Commission in achieving compliance with the rules of competition;
(b) investigate any allegations of anti-competitive business conduct referred to the authority by the Commission or another Member Staite; .
(c) co-operate with other national competition authorities in the detection and Prevention of anti-competitive business conduct, and the exchange of information relating to such conduct.
4. Nothing in this Article shall be construed as requiring a Member State to disclose confidential information, the disclosure of which would be prejudicial to the public interest or to the legitimate commercial interesis of enterprises, public or private. Confidential or proprietary information disclosed in the course of an investigation shall be treated on the same basis as that on which it was provided.
5. Within 24 months of the entry into force of this Treaty, the Member States shall notify COTED of existing legislation, agreements and administrative practices inconsistent with the Provisions of this Chapter. Within 36 months of entry into force of this Treaty, COTED shall establish a programme providing for the repeal of such legislation, and termination of agreements and administrative practices.
Article 171. Establishment of the Competition Commission
For the purposes of implementation of the Community Competition Policy, there is hereby established a Competition Commission (hereinafter called "the Commission") having the composition, functions and powers hereinafter set forth.
Article 172. Composition of the Commission
1. The Commission shall comprise seven members appointed by the Regional Judicial and Legal Services Commission to serve on the Commission. The Regional Judicial and Legal Services Commission shail appoint a Chairman from among the members so appointed.
2. The Commission shall comprise persons, collectively having expertise or experience in commerce, finance, economics, law, competition policy and practice, international trade and such other areas of expertise or experience as may be necessary.
3. A Commissioner shall be appointed for a term of five years and such appointment may be renewed for a further period of not more than five years as determined by the Regional Judicial and Legal Services Commission.
4. A Commissioner may be removed from office only for inability to perform the functions of his office or for misbehaviour and shail otherwise be subject to the disciplinary procedures of the Regional Judicial and Legal Services Commission.
5. A Commissioner shail be removed only on the vote of the Judicial and Legal Services Commission that represents not less than three-quarters of all the Members of the Commission.
6. A Commissioner may at any time resign the office of Commissioner by writing under his hand addressed to the Chairman of the Judicial and Legal Services Commission.
7. A Commissioner shall not enter upon the duties of the office unless he has taken and subscribed before the Chairman of the Judicial and Legal Services Commission, the Oath of Office set out in the Annex to this Treaty.
8. Notwithstanding the foregoing provisions of this Article, the Conference shall on the recommendation of COTED execute the functions required to be carried out by the Regional Judicial and Legal Services Commission where the Parties to the Agreement Establishing the Caribbean Court of Justice are less than seven.
Article 173. Functions of the Commission
1. the commission shall:
(a) apply the rules of competition in respect of anti-competitive cross-border business conduct;
(b) promote and protect competition in the Community and co-ordinate the implementation of the Community Competition Policy; and
(c) perform any other function conferred on it by any competent body of the Community.
2. In discharging the functions set out in paragraph 1, the Commission shall:
(a) monitor anti-competitive practices of enterprises operating in the CSME, and investigate and arbitrate cross-border disputes;
(b) keep the Community Competition Policy under review and advise and make recommendations to COTED to enhance its effectiveness;
(c) Promote the establishment of institutions and the development and implementation of harmonised competition laws and practices by the Member States to achieve uniformity in the administration of applicable rules;
(d) review the progress made by the Member States in the implementation of the legal and institutional framework for enforcement;
(e) co-operate with competent authorities in the Member States;
(f) provide support to the Member States in promoting and protecting consumer welfare;
(g) facilitate the exchange of relevant information and expertise; and
(h) develop and disseminate information about competition policy, and consumer protection policy.
3. The Commission may, by directions in writing and subject to such conditions as it thinks fit, delegate any of its functions to one or more of its members.
Article 174. Powers of the Commission
1. Subject to Articles 175 and 176, the Commission may, in respect of cross-border transactions or transactions with cross-border effects, monifor, investigate, detect, make determinations or take action to inhibit and penalise enterprises whose business conduct prejudices trade or prevents, restricts or distorts competition within the CSME.
2. The Commission may, in accordance with applicable national laws, in the conduct of its investigations:
(a) secure the attendance of any person before it to give evidence;
(b) require the discovery or production of any document or part thereof, and
(c) take such other action as may be necessary in furtherance of the investigation.
3. The Commission may, on the basis of its investigations, make determinations regarding the compatibility of business conduct with the rules of competition and other related provisions of the Treaty.
4. The Commission shall, to the extent required to remedy or penalise anti-competitive business conduct referred to in Article 177:
(b) order the termination or nullification as the case may require, ofagreements, conduct, activities or decisions prohibited by Article 170;
(c) direct the enterprise to cease and desist from anti-competitive business conduct and to take such steps as are necessary to overcome the effects of abuse of its dominant position in the market, or any other business conduct inconsistent with the principles of fair competition set out in this Chapter;
(i) order payment of compensation to persons affected; and
(ii) impose fines for breaches of the rules of competition.
5. the commission may enter into such arrangements for the provision of services as may be necessary for the efficient performance of its functions.
6. The Member States shail enact legislation to ensure that determinations of the Commission are enforceable in their jurisdictions.
7. The Commission may establish its own rules of procedure.
Article 175. Determination of Anti-Competitive Business Conduct: Procedure of Commission on Request
1. A Member State may request an investigation referred to in paragraph 1 of Article 174 where it has reason to believe that business conduct by an enterprise located in another Member State prejudices trade and prevents, restricts or distorts competition in the territory of the requesting Member State.
2. Where COTED has reason to believe that business conduct by an enterprise in the CSME prejudices trade and prevents, restricts or distorts competition within the CSME and has or is likely to have cross-border effects, COTED may request an investigation referred to in paragraph 1 of Article 174.
3. Requests under paragraphs 1 and 2 shall be in writing and shail disclose sufficient information for the Commission to make a preliminary assessment whether it should proceed with the investigation.
4. Upon receipt of a request mentioned in paragraph 3, the Commission shail consult with the interested parties and shall determine on the basis of such consultations whether: