Armenia - Japan BIT (2018)
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10.

Sector: Financial and Insurance Activities

Sub-Sector:

Industry Classification: Classification of Economic Activity HD-011-2013 64- Financial Services

Obligations Concerned: National Treatment (Article 2)

Measures: Law "On Banks and Banking" (Law no. HO-68 of 1996), Articles 4 and 14

Description: Banking activities shall be provided only by a legal entity and/or a branch established and licensed in the Republic of Armenia.

11.

Sector: Financial and Insurance Activities

Sub-Sector:

Industry Classification: Classification of Economic Activity HD-011-2013 65- Insurance Services

Obligations Concerned: National Treatment (Article 2) Most-Favoured-Nation Treatment (Article 3)

Measures: Law "On Insurance and Insurance Activities" (Law no. HO-177-N of 2007), Articles 1 and 47

Description: Insurance service shall be provided only by a legal entity and/or a branch established and registered in the Republic of Armenia.

Foreign insurance companies may, without establishing a branch or subsidiary legal entity in the Republic of Armenia, perform insurance activities through a public offering only if they are registered in countries that are parties to the international agreements (of which the Republic of Armenia is also a member) consistent with the WTO Agreement; such legal entity may only perform insurance covering the following risks:

(a) maritime shipping, civil aviation, spaceship launching and freight (including satellites); such insurance may cover transportable goods, transporting vehicle and any liability arising out of such transportation, both altogether and separately;

(b) international freight carriage; and

(c) reinsurance and retrocession and other services related to reinsurance.

12.

Sector: Financial and Insurance Activities

Sub-Sector:

Industry Classification: Classification of Economic Activity HD-011-2013 66- Finance and Insurance

Obligations Concerned: National Treatment (Article 2)

Measures: Law "On Securities Market" (Law no. HO-195-N of 2007), Articles 3, 25, 43 and 49

Description: Investment services in the meaning of law “On Securities Market” of the Republic of Armenia shall be provided only by a legal entity and/or a branch established and registered in the Republic of Armenia.

13.

Sector: Financial and Insurance Activities

Sub-Sector:

Industry Classification: Classification of Economic Activity HD-011-2013 66- Finance and Insurance

Obligations Concerned: National Treatment (Article 2)

Measures: Law "On Investment Funds" (Law no. HO-245-N of 2010), Article 55 and 60; Regulation 10/01 of the Central Bank Board, (Regulation no. 116-N of 2011), Article 38

Description: Fund management service shall be provided only by a legal entity and/or a branch established in the Republic of Armenia.

14.

Sector: Financial and Insurance Activities

Sub-Sector:

Industry Classification: Classification of Economic Activity HD-011-2013 64.92.1- Pawnbroker Activity

Obligations Concerned: National Treatment (Article 2)

Measures: Law "On Pawnshops and Pawnbrokerage" (Law no. HO-43-N of 2003), Article 3

Description: Only legal persons and sole proprietors established in the Republic of Armenia can engage in pawnbrokerage activity in the Republic of Armenia.

Annex II. Non-Conforming Measures referred to in paragraph 2 of Article 7

1. The Schedule of a Contracting Party sets out, pursuant to paragraph 2 of Article 7, the specific sectors, sub- sectors or activities for which that Contracting Party may maintain existing, or adopt new or more restrictive, measures that do not conform with obligations imposed by:

(a) Article 2;

(b) Article 3; or

(c) Article 6.

2. Each Schedule entry sets out the following elements:

(a) “Sector” refers to the sector for which the entry is made;

(b) “Sub-Sector”, where referenced, refers to the specific sub-sector for which the entry is made;

(c) “Industry Classification”, where referenced, and only for transparency purposes, refers to the activity covered by the non-conforming measure, according to domestic or international industry classification codes;

(d) “Obligations Concerned” specifies the obligations referred to in paragraph 1 that, pursuant to paragraph 2 of Article 7, do not apply to the sectors, sub-sectors or activities listed in the entry;

(e) “Description” sets out the scope or nature of the sectors, sub-sectors or activities covered by the entry; and

(f) “Existing Measures”, where specified, identifies, or transparency purposes, a non-exhaustive list of existing measures that apply to the sectors, sub-sectors or activities covered by the entry.

3. In the interpretation of an entry, all elements of the entry shall be considered. The "Description" element shall prevail over all other elements.

4. For the purposes of this Annex, the term "JSIC" means Japan Standard Industrial Classification set out by the Ministry of Internal Affairs and Communications of Japan, and revised on October 30, 2013.

5. For the purposes of this Annex, the term "Classification of Economic Activity HD-011-2013" means Armenian Classification of Types of Economic Activity set out by the Ministry of Economy of the Republic of Armenia on September 19, 2013.

Schedule of Japan

1.

Sector: All

Sub-Sector:

Industry Classification:

Obligations Concerned: National Treatment (Article 2) Prohibition of Performance Requirements (Article 6)

Description: When transferring or disposing of its equity interests in, or the assets of, a state enterprise ora governmental entity, Japan reserves the right to:

(a) prohibit or impose limitations on the ownership of such interests or assets by investors of the Republic of Armenia or their investments;

(b) impose limitations on the ability of investors of the Republic of Armenia or their investments as owners of such interests or assets to control any resulting enterprise; or

(c) adopt or maintain any measure relating to the nationality of executives, managers or members of the board of directors of any resulting enterprise.

Existing Measures:

2.

Sector: All

Sub-Sector:

Industry Classification:

Obligations Concerned: National Treatment (Article 2) Most-Favoured-Nation Treatment (Article 3) Prohibition of Performance Requirements (Article 6)

Description: Japan reserves the right to adopt or maintain any measure relating to investment in telegraph services, postal services, betting and gambling services, manufacture of tobacco products, manufacture of Bank of Japan notes and minting and sale of coinage in Japan.

Existing Measures:

3.

Sector: All

Sub-Sector:

Industry Classification:

Obligations Concerned: Most-Favoured-Nation Treatment (Article 3)

Description:

Japan reserves the right to adopt or maintain any measure that accords differential treatment to countries under any bilateral or multilateral agreement involving:

(a) aviation;

(b) fisheries; or

(c) maritime matters, including salvage.

Existing Measures:

4.

Sector: All

Sub-Sector:

Industry Classification:

Obligations Concerned: National Treatment (Article 2) Most-Favoured-Nation Treatment (Article 3)

Description: National Treatment and Most-Favoured-Nation Treatment may not be accorded to investors of the Republic of Armenia and their investments with respect to subsidies.

Existing Measures:

5.

Sector: Aerospace Industry Aircraft Industry

Sub-Sector: Space Industry

Industry Classification:

Obligations Concerned: National Treatment (Article 2) Prohibition of Performance Requirements (Article 6)

Description: Japan reserves the right to adopt or maintain any measure relating to the investment in aircraft industry and space industry.

Existing Measures: Foreign Exchange and Foreign Trade Law (Law No. 228 of 1949), Articles 27 and 30; Cabinet Order on Foreign Direct Investment (Cabinet Order No. 261 of 1980), Articles 3 and 5

6.

Sector: Arms and Explosives Industry Arms Industry

Sub-Sector: Explosives Manufacturing Industry

Industry Classification:

Obligations Concerned: National Treatment (Article 2) Prohibition of Performance Requirements (Article 6)

Description: Japan reserves the right to adopt or maintain any measure relating to the investment in the arms industry and explosives manufacturing industry.

Existing Measures: Foreign Exchange and Foreign Trade Law (Law No. 228 of 1949), Articles 27 and 30; Cabinet Order on Foreign Direct Investment (Cabinet Order No. 261 of 1980), Articles 3 and 5

7.

Sector: Energy Electricity Utility Industry Gas Utility Industry

Sub-Sector: Nuclear Energy Industry

Industry Classification:

Obligations Concerned: National Treatment (Article 2) Prohibition of Performance Requirements (Article 6)

Description: Japan reserves the right to adopt or maintain any measure relating to investment in the energy industry listed in the "Sub-Sector" element.

Existing Measures: Foreign Exchange and Foreign Trade Law (Law No. 228 of 1949), Articles 27 and 30; Cabinet Order on Foreign Direct Investment (Cabinet Order No. 261 of 1980), Articles 3 and 5

8.

Sector: Fisheries

Sub-Sector:Fisheries within the Territorial Sea, Internal Waters, Exclusive Economic Zone and Continental Shelf

Industry Classification: JSIC 031 Marine fisheries JSIC 032 Inland water fisheries JSIC 041 Marine aquaculture JSIC 042 Inland water aquaculture JSIC 8093 Recreational fishing guide business

Obligations Concerned: National Treatment (Article 2) Most-Favoured-Nation Treatment (Article 3) Prohibition of Performance Requirements (Article 6)

Description: Japan reserves the right to adopt or maintain any measure relating to investment in fisheries in the territorial sea, internal waters, exclusive economic zone and continental shelf of Japan.

For the purposes of this entry, the term "fisheries" means the work of taking and cultivation of aquatic resources, including the following fisheries related activities:

(a) investigation of aquatic resources without taking such resources;

(b) luring of aquatic resources;

(c) preservation and processing of fish catches;

(d) transportation of fish catches and fish products; and

(e) provision of supplies to other vessels used for fisheries.

Existing Measures: Foreign Exchange and Foreign Trade Law (Law No. 228 of 1949), Article 27; Cabinet Order on Foreign Direct Investment (Cabinet Order No. 261 of 1980), Article 3; Law for Regulation of Fishing Operation by Foreign Nationals (Law No. 60 of 1967), Articles 3, 4 and 6; Law concerning the Exercise of Sovereign Rights concerning Fisheries in the Exclusive Economic Zones (Law No. 76 of 1996), Articles 4, 5, 7, 8, 9, 10, 11, 12 and 14

9.

Sector: Information and Communications 

Sub-Sector: Broadcasting Industry

Industry Classification: JSIC 380 Establishments engaged in administrative or ancillary economic activities JSIC 381 Public broadcasting, except cablecasting JSIC 382 Private-sector broadcasting, except cablecasting JSIC 383 Cablecasting

Obligations Concerned: National Treatment (Article 2) Prohibition of Performance Requirements (Article 6)

Description: Japan reserves the right to adopt or maintain any measure relating to investment in broadcasting industry.

Existing Measures: Foreign Exchange and Foreign Trade Law (Law No. 228 of 1949), Article 27; Cabinet Order on Foreign Direct Investment (Cabinet Order No. 261 of 1980), Article 3; Radio Law (Law No. 131 of 1950), Chapter 2; Broadcast Law (Law No. 132 of 1950), Chapters 5 and 8

10.

Sector: Land Transaction

Sub-Sector:

Industry Classification:

Obligations Concerned: National Treatment (Article 2) Most-Favoured-Nation Treatment (Article 3)

Description: With respect to the acquisition or lease of land properties in Japan, prohibitions or restrictions may be imposed by Cabinet Order on foreign nationals or legal persons, where Japanese nationals or legal persons are placed under identical or similar prohibitions or restrictions in the foreign country.

Existing Measures: Alien Land Law (Law No. 42 of 1925), Article 1

11.

Sector: Public Law Enforcement and Correctional Services and Social Services

Sub-Sector:

Industry Classification:

Obligations Concerned: National Treatment (Article 2) Most-Favoured-Nation Treatment (Article 3) Prohibition of Performance Requirements (Article 6)

Description: Japan reserves the right to adopt or maintain any measure relating to investment in public law enforcement and correctional services, and in social services such as income security or insurance, social security or insurance, social welfare, primary and secondary education, public training, health and child care.

Existing Measures:

12.

Sector: Transport

Sub-Sector: Air Transport

Industry Classification:

Obligations Concerned: National Treatment (Article 2) Prohibition of Performance Requirements (Article 6)

  • Chapter   I INVESTMENT 1
  • Article   1 Definitions 1
  • Article   2 National Treatment 1
  • Article   3 Most-Favoured-Nation Treatment 1
  • Article   4 General Treatment 1
  • Article   5 Access to the Courts 1
  • Article   6 Prohibition of Performance Requirements 1
  • Article   7 Non-Conforming Measures 1
  • Article   8 Transparency 1
  • Article   9 Public Comment Procedures 1
  • Article   10 Measures Against Corruption 1
  • Article   11 Entry, Sojourn and Residence of Investors 1
  • Article   12 Expropriation and Compensation 1
  • Article   13 Protection from Strife 1
  • Article   14 Subrogation 1
  • Article   15 Transfers 1
  • Article   16 General and Security Exceptions 2
  • Article   17 Temporary Safeguard Measures 2
  • Article   18 Prudential Measures 2
  • Article   19 Intellectual Property Rights 2
  • Article   20 Taxation Measures 2
  • Article   21 Health, Safety and Environmental Measures and Labour Standards 2
  • Article   22 Denial of Benefits 2
  • Chapter   II DISPUTE SETTLEMENT 2
  • Article   23 Settlement of Dispute between the Contracting Parties 2
  • Article   24 Settlement of Investment Disputes between a Contracting Party and an Investor of the other Contracting Party 2
  • Article   25 Service of Documents 2
  • Chapter   III JOINT COMMITTEE 2
  • Article   26 Joint Committee 2
  • Chapter   IV FINAL PROVISIONS 2
  • Article   27 Headings 2
  • Article   28 Amendments 2
  • Article   29 Final Provisions 2
  • Annex I  Existing Non-Conforming Measures referred to in subparagraph 1(a) of Article 7 3
  • Schedule of Japan 3
  • 1 3
  • 2 3
  • 3 3
  • 4 3
  • 5 3
  • 6 3
  • 7 3
  • 8 3
  • 9 3
  • 10 3
  • 11 3
  • 12 3
  • 13 3
  • 14 3
  • 15 4
  • 16 4
  • 17 4
  • 18 4
  • 19 4
  • 20 4
  • 21 4
  • 22 4
  • Schedule of the Republic of Armenia 4
  • 1 4
  • 2 4
  • 3 4
  • 4 4
  • 5 4
  • 6 4
  • 7 4
  • 8 4
  • 9 4
  • 10 5
  • 11 5
  • 12 5
  • 13 5
  • 14 5
  • Annex II  Non-Conforming Measures referred to in paragraph 2 of Article 7 5
  • Schedule of Japan 5
  • 1 5
  • 2 5
  • 3 5
  • 4 5
  • 5 5
  • 6 5
  • 7 5
  • 8 5
  • 9 5
  • 10 5
  • 11 5
  • 12 5
  • Schedule of the Republic of Armenia 6
  • 1 6
  • 2 6
  • 3 6
  • 4 6
  • 5 6
  • 6 6
  • 7 6