Article 14. Proceedings Under Different International Agreements

Where claims are brought pursuant to this Chapter and another international agreement and:

(a) there is a potential for overlapping compensation; or

(b) the other international claim could have a significant impact on the resolution of the claim brought pursuant to this Chapter,

the Arbitral Tribunal constituted under this Chapter shall, as soon as possible after hearing the disputing parties, stay its proceedings or otherwise ensure that proceedings brought pursuant to another international agreement are taken into account in its decision, order or award.

Article 15. Conditions Precedent to Submission of a Claim to Arbitration

15.1 In respect of a claim that the Defending Party has breached an obligation under Chapter II, other than an obligation under Article 9 [Entry and Sojourn of Personnel] and Article 10 [Transparency], a disputing investor may commence a proceeding under this Chapter by transmitting a written request for consultations and negotiations ("written request") to the Defending Party.

15.2 The written request shall: specify the name and address of the disputing investor or the enterprise, where applicable; set out the factual basis of the claim, including the measures at issue; specify the provisions of the Agreement alleged to have been breached and any other relevant provisions; specify the relief sought and the approximate amount of damages claimed; and furnish evidence establishing that the disputing investor is an investor of the territory of the other Party.

15.3. For no less than six (6) months after receipt of the written request, the disputing parties shall use their best efforts to try to resolve the dispute amicably through meaningful consultation, negotiation or other third party procedures. In all such cases, the place of such consultation or negotiation or settlement shall be the territory in which the investment is made.

15.4 In the event that the disputing parties cannot settle the dispute amicably, a disputing investor may submit a claim to arbitration pursuant to this Agreement, but only if the following additional conditions are satisfied:

(a) a disputing investor must submit its claim before the relevant domestic courts or administrative bodies in the territory in which the investment is made for the purpose of pursuing domestic remedies in respect of the same measure or similar factual matters for which a breach of this Agreement is claimed. Such claim before the relevant domestic courts or administrative bodies mentioned above, must be submitted within one (1) year and six (6) months from the date on which the investor first acquired, or should have first acquired, knowledge of the measure in question and knowledge that the investment, or the investor with respect to its investment, had incurred loss or damage as a result.

For greater certainty, in demonstrating compliance with the obligation to exhaust local remedies, the investor shall not assert that the obligation to exhaust local remedies does not apply or has been met on the basis that the claim under this Agreement is by a different party or in respect of a different cause of action.

Provided, however, that the requirement to exhaust local remedies shall not be applicable if the investor or the locally established enterprise can demonstrate that there are no available domestic legal remedies capable of reasonably providing any relief in respect of the same measure or similar factual matters for which a breach of this Agreement is claimed by the investor.

(b) Where applicable, if, after exhausting all judicial and administrative remedies relating to the measure underlying the claim for at least a period of four(4) years from the date on which the investor first acquired knowledge of the measure in question, no resolution has been reached satisfactory to the investor,

(c) not more than five (5) years and six (6) months have elapsed from the date on which the disputing investor first acquired, or should have first acquired, knowledge of the measure in question and knowledge that the disputing investor with respect to its investment, had incurred loss or damage as a result; or

(d) where applicable, not more than twelve (12) months have elapsed from the conclusion of domestic proceedings pursuant to subparagraph (b).

(e) the disputing investor or the locally established enterprise have waived their right to initiate or continue before any administrative tribunal or court under the law of the territory of any Party, or other dispute settlement procedures, any proceedings with respect to the measure of the Defending Party that is alleged to be a breach referred to in Article 13.2.

(f) in case of indirect investment, a disputing investor may submit a claim under Chapter IV only if, both the disputing investor and the legal entity of any other territory through which the investment has been made, waive their right to initiate or continue any proceeding, including under any other Investment Agreement, with respect to the measure of the Defending Party that is alleged to be a breach referred to in Article 13.2. Such waivers shall be provided in writing to the Defending Party, by the disputing investor and the legal entity of any other territory through which the investment has been made.

(g) In case of indirect investment, no claim may be submitted under this Chapter if the disputing investor or the legal entity of any other territory through which the investment has been made, submits or has submitted a claim with respect to the same measure or series of measures under any proceeding, including under any other Investment Agreement.

(h) where the claim submitted by the disputing investor is for loss or damage to an interest in an enterprise of the territory of the other Party that is a juridical person that the disputing investor owns or controls, that enterprise has waived its right to initiate or continue before any administrative tribunal or court under the law of the territory of any Party, or other dispute settlement procedures, any proceedings with respect to the measure of the Defending Party that is alleged to be a breach referred to in Article 13.2.

(i) At least 90 days before submitting any claim to arbitration, the disputing investor has transmitted to the Defending Party a written notice of its intention to submit the claim to arbitration ("notice of arbitration'). The notice of arbitration shall:

(i) attach the written request and the record of its transmission to the Defending Party with the details thereof;

(ii) provide the consent to arbitration by the disputing investor, or where applicable, by the locally established enterprise, in accordance with the procedures set out in this Agreement;

(iii) provide the waiver as required under Article 15.4 (e),(f), (g) or (h), as applicable; provided that a waiver from the enterprise under Article 15.4 (e),(f,(g) or (h) shall not be required only where the Defending Party has deprived the disputing investor of control of an enterprise;

(iv) specify the name of the arbitrator appointed by the disputing investor.

Article 16. Submission of Claim to Arbitration

16.1 A disputing investor who meets the conditions precedent provided for in Article 15 [Conditions Precedent to Submission of a Claim to Arbitration] may submit the claim to arbitration under:

(a) the UNCITRAL Arbitration Rules; or

(b) any other arbitration rules, including the ICC Arbitration Rules, if mutually agreed by the disputing parties.

16.2 The applicable arbitration rules shall govern the arbitration except to the extent modified by this Chapter, and supplemented by any subsequent tules adopted by the Parties.

16.3 A claim is submitted to arbitration under this Chapter when the notice of arbitration given under the UNCITRAL Arbitration Rules is received by the Defending Party.

16.4 Delivery of notice and other documents on a Party shall be made to the Designated Representative for each Party.

Article 17. Appointment of Arbitrators

17.1 The Arbitral Tribunal shall consist of three arbitrators with relevant expertise or experience in public international law, international trade and international investment law, or the resolution of disputes arising under international trade or international investment agreements. They shall be independent of, and not be affiliated with or take instructions from a disputing party or the authorities of the territory of a Party, with regard to trade and investment matters. Arbitrators shall not take instructions from any organisation, government, authorities of the territories or disputing party with regard to matters related to the dispute.

17.2 One arbitrator shall be appointed by each of the disputing parties and the third arbitrator ("Presiding Arbitrator') shall be appointed by agreement of the co-arbitrators and the disputing parties.

17.3 If the Arbitral Tribunal has not been constituted within one hundred twenty (120) days from the date that a Claim is submitted to arbitration under this Article, the appointing authority under this Article shall be the Secretary- General of the Permanent Court of Arbitration.

17.4 The appointing authority shall appoint in her/his discretion and after consultation with the disputing parties, the arbitrator or arbitrators not yet appointed.

Article 18. Prevention of Conflict of Interest of Arbitrators and Challenges

18.1. Every arbitrator appointed to resolve disputes under this Agreement shall during the entire arbitration proceedings be impartial, independent and free of any actual or potential conflict of interest.

18.2 Upon nomination and, if appointed, every arbitrator shall, on an ongoing basis, disclose in writing any circumstances that may, in the eyes of the disputing parties, give rise to doubts as to her/his independence, impartiality, or freedom from conflicts of interest. This includes any items listed in Article 18.10 and any other relevant circumstances pertaining to the subject matter of the dispute, and to existing or past, direct or indirect, financial, personal, business, or professional relationships with any of the disputing parties, Parties, legal counsel, representatives, witnesses, or co-arbitrators. Such disclosure shall be made immediately upon the arbitrator acquiring knowledge of such circumstances, and shall be made to the co-arbitrators, disputing parties and the appointing authority, if any, making an appointment. Neither the ability of those individuals or entities to access this information independently, nor the availability of that information in the public domain, will relieve any arbitrator of his or her affirmative duty to make these disclosures. Doubts regarding whether disclosure is required shall be resolved in favour of such disclosure.

18.3 A disputing party may challenge an arbitrator appointed under this Agreement:

(a) if facts or circumstances exist that may, in the eyes of any of the disputing parties, give rise to justifiable doubts as to the arbitrator's independence, impartiality or freedom from conflicts of interest; or

(b) in the event that an arbitrator fails to act or in the event of the de jure or de facto impossibility of the arbitrator performing his or her functions,

Provided that no such challenge may be initiated after fifteen days of that party:

(i) learning of the relevant facts or circumstances through a disclosure made under Article 18.2 by the arbitrator, or

(ii) otherwise becoming aware of the relevant facts or circumstances relevant to a challenge under Article 18.3, whichever is later.

18.4 The notice of challenge shall be communicated to the disputing party, to the arbitrator who is challenged, to the other arbitrators and to the appointing authority under Article 17.3. The notice of challenge shall state the reasons for the challenge.

18.5 When an arbitrator has been challenged by a disputing party, all disputing parties may agree to the challenge. The arbitrator may also, after the challenge, withdraw from his or her office. In neither case does this imply acceptance of the validity of the grounds for the challenge.

18.6 If, within fifteen (15) days from the date of the notice of challenge, the disputing parties do not agree to the challenge or the challenged arbitrator does not withdraw, the disputing party making the challenge may elect to pursue it. In that case, within 30 days from the date of the notice of challenge, it shall seek a decision on the challenge by the appointing authority as specified under Article 17.3.

18.7 The appointing authority as specified under Article 17.3 shall accept the challenge made under Article 18.3 if, even in the absence of actual bias, there are circumstances that would give rise to justifiable doubts as to the arbitrator's lack of independence, impartiality, freedom from conflicts of interest, or ability to perform his or her role, in the eyes of an objective third party.

18.8 In any event where an arbitrator has to be replaced during the course of the arbitral proceedings, a substitute arbitrator shall be appointed or chosen pursuant to the procedure provided for in the Agreement and the arbitration tules that were applicable to the appointment or choice of the arbitrator being replaced. This procedure shall apply even if during the process of appointing the arbitrator to be replaced, a disputing party to the arbitration had failed to exercise its right to appoint or to participate in the appointment.

18.9 If an arbitrator is replaced, the proceedings may resume from the stage where the arbitrator who was replaced ceased to perform his or her functions unless otherwise agreed by the disputing parties.

18.10 A justifiable doubt as to an arbitrator's independence or impartiality or freedom from conflicts of interest shall be deemed to exist on account of the following factors, including if:

(a) The arbitrator or her/his associates or relatives have an interest in the outcome of the particular arbitration;

(b) The arbitrator is or has been a representative/advisor of the appointing party or an affiliate of the appointing party in the preceding three (3) years prior to the commencement of arbitration;

(c) The arbitrator is from the same law firm as the counsel to a disputing party;

(d) The arbitrator is acting concurrently with the counsel or firm of a disputing party in another dispute;

(e) The arbitrator's firm is currently rendering or has rendered services to a disputing party or to an affiliate of one of the parties out of which such firm derives financial interest;

(f) The arbitrator has received a full briefing of the merits or procedural aspects of the dispute from the appointing party or her/his counsel prior to her/his appointment;

(g) The arbitrator is a manager, director or member of the governing body, or has a similar controlling influence by virtue of shareholding or otherwise in a disputing party;

(h) The arbitrator has publicly advocated a fixed position regarding an issue on the case that is being arbitrated.

18.11 The Parties shall by mutual agreement and after completion of their respective procedures adopt a separate code of conduct for arbitrators to be applied in disputes arising out of this Agreement, which may replace or supplement the existing rules in application. Such a code and may address topics such as disclosure obligations, the independence and impartiality of arbitrators and confidentiality.

Article 19. Conduct of Arbitral Proceedings

19.1 Unless the disputing parties agree otherwise, the Arbitral Tribunal shall hold the arbitration proceedings in the territory of a country that is a party to the New York Convention, selected in accordance with the UNCITRAL Arbitration Rules if the arbitration is under those Rules.

19.2 Unless otherwise agreed by the disputing parties, the Arbitral Tribunal may determine a place for meetings and hearings and the legal seat of arbitration. In doing so, the Arbitral Tribunal shall take into consideration the convenience of the disputing parties and the arbitrators, the location of the subject matter, the proximity of the evidence, and give special consideration to the territory in which the investment is made.

19.3. When considering matters of evidence or production of documents, the Arbitral Tribunal shall not have any powers to compel production of documents which the Defending Party claims are protected from disclosure under the rules on confidentiality or privilege under the law of the territory in which the investment is made.

Article 20. Dismissal of Frivolous Claims

20.1. Without prejudice to the Arbitral Tribunal's authority to address other objections, the Arbitral Tribunal shall address and decide as a preliminary question any objection by the Defending Party that a claim submitted by the disputing investor is: (a) not within the scope of the Arbitral Tribunal's jurisdiction, or (b) manifestly without legal merit or unfounded as a matter of law.

20.2 Such objection shall be submitted to the Arbitral Tribunal as soon as possible after the Arbitral Tribunal is constituted, and in no event later than the date the Arbitral Tribunal fixes for the Defending Party to submit its counter- memorial (or, in the case of an amendment to the notice of arbitration, the date the Arbitral Tribunal fixes for the Defending Party to submit its response to the amendment).

20.3. On receipt of an objection under this Article, the Arbitral Tribunal shall suspend any proceedings on the merits, establish a schedule for considering the objection consistent with any schedule it has established for considering any other preliminary question and issue a decision or award on the objection, stating the grounds therefore. In deciding an objection under this Article, the Arbitral Tribunal shall assume to be true disputing investor's factual allegations in support of any claim in the notice of arbitration (or any amendment thereof). The Arbitral Tribunal may also consider any relevant facts not in dispute.

20.4 The Arbitral Tribunal shall issue an award under this Article no later than one hundred fifty (150) days after the date of the receipt of the request under Article 20.2. However, if a Defending Party requests a hearing, the Arbitral Tribunal may take an additional thirty (30) days to issue the decision or award.

20.5 The Defending Party does not waive any objection as to competence or any argument on the merits merely because the Defending Party did or did not raise an objection or make use of the expedited procedure set out this Article.

20.6 When the Arbitral Tribunal decides on a preliminary objection by a Defending Party under Article 20.2 or 20.3, the Arbitral Tribunal may, if warranted, award to the prevailing Defending Party reasonable costs and attorneys' fees incurred in submitting or opposing the objection. In determining whether such an award is warranted, the Arbitral Tribunal shall consider whether either the claim by the disputing investor or the objection by the Defending Party was frivolous, and shall provide the disputing parties a reasonable opportunity to present its cases.

Article 21. Transparency In Arbitral Proceedings

21.1 Subject to applicable law regarding protection of confidential information, the Defending Party shall make available to the public the following documents relating to a dispute under this Chapter:

(a) the written request and the notice of arbitration;

(b) pleadings and other written submissions on jurisdiction and the merits submitted to the Arbitral Tribunal, including submissions by a Non-disputing Party;

(c) Transcripts of hearings, where available; and

(d) decisions, orders and awards issued by the Arbitral Tribunal.

21.2 Hearings for the presentation of evidence or for oral argument ("hearings") shall be made public in accordance with the following provisions: a. Where there is a need to protect confidential information or protect the safety of participants in the proceedings, the Arbitral Tribunal shall make arrangements to hold in private that part of the hearing requiring such protection.

b. The Arbitral Tribunal shall make logistical arrangements to facilitate public access to hearings, including by organizing attendance through video links or such other means as it deems appropriate. However, the Arbitral Tribunal may, after consultation with the disputing parties, decide to hold all or part of the hearings in private where this becomes necessary for logistical reasons, such as when the circumstances render any original arrangement for public access to a hearing infeasible.

21.3. The award of the Arbitral Tribunal rendered under this Article shall be publicly available, subject to the redaction of confidential information. Where a Defending Party determines that it is in the public interest to do so and notifies the Arbitral Tribunal of that determination, all other documents submitted to, or issued by, the Arbitral Tribunal shall also be publicly available, subject to the redaction of confidential information.

21.4 The Non-disputing Party may make oral and written submissions to the Arbitral Tribunal regarding the interpretation of this Agreement.

Article 22. Burden of Proof and Governing Law

22.1 This Agreement shall be interpreted in the context of the high level of deference that international law accords to States with regard to their development and implementation of domestic policies.

22.2 The disputing investor bears the burden of establishing: (a) jurisdiction; (b) the existence of an obligation under Chapter I of this Agreement, other than the obligation under Articles 9 [Entry and Sojourn of Personnel] or 10 [Transparency]; (c) a breach of such obligation; (d) that the investment, or the investor with respect to its investment, has suffered actual and non-speculative losses as a result of the breach; and (e) that those losses were foreseeable and directly caused by the breach.

22.3. The governing law for interpretation of this Agreement by the Arbitral Tribunal constituted under this Chapter shall be: (a) this Agreement; (b) the general principles of public international law relating to the interpretation of agreements, including the presumption of consistency between international agreements to which the Parties are party; and (c) for matters relating to domestic law, the law of the territory of the Defending Party.

Article 23. Joint Interpretations

23.1. Interpretations of specific provisions and decisions on application of this Agreement issued subsequently by the Parties in accordance with this Agreement shall be binding on Arbitral Tribunals established under this Chapter upon issuance of such interpretations or decisions.

23.2 In accordance with customary international law, other evidence of the Parties subsequent agreement and practice regarding interpretation or application of this Agreement shall constitute authoritative interpretations of this Agreement and must be taken into account by Arbitral Tribunals under this Chapter.

23.3. The Arbitral Tribunal may, on its own account or at the request of a Defending Party, request the joint interpretation of any provision of this Agreement that is subject of a dispute. The Parties shall submit in writing any joint decision declaring their interpretation to the Arbitral Tribunal within sixty (60) days of the request. Without prejudice to the rights of the Parties under Article 23.1 and 23.2, if the Parties fail to submit a decision to the Arbitral Tribunal within sixty (60) days, any interpretation issued individually by a Party shall be forwarded to the disputing parties and the Arbitral Tribunal, which may take into account such interpretation.

Article 24. Expert Reports

Without prejudice to the appointment of other kinds of experts where authorized by the applicable arbitration rules, and unless the disputing parties disapprove, the Arbitral Tribunal may appoint experts to report to it in writing on any factual issue concerning environmental, health, safety, technical or other scientific matters raised by a disputing party, subject to such terms and conditions as the disputing parties may agree.

Article 25. Award

25.1 The award shall include a judgement as to whether there has been a breach by the Defending Party of any rights conferred under this Agreement in respect of the disputing investor and its investment and the legal basis and the reasons for its decisions.

25.2 The Arbitral Tribunal shall reach its decision by a majority of votes. Such decision shall be binding on both disputing parties.

25.3. The Arbitral Tribunal can only award monetary compensation for a breach of the obligations under Chapter II of the Agreement. Monetary damages shall not be greater than the loss suffered by the investor or, as applicable, the locally established enterprise, reduced by any prior damages or compensation already provided by the authorities of the territory. For the calculation of monetary damages, the Arbitral Tribunal shall also take into account any restitution of property or repeal or modification of the measure, or other mitigating factors (1)

25.4 The Arbitral Tribunal may not award punitive or moral damages or any injunctive relief against authorities of the territory of either Party under any circumstance.

Article 26. Finality and Enforcement of Awards

26.1 The award made by the Arbitral Tribunal shall have no binding force except between the disputing parties and in respect of the particular case and the Arbitral Tribunal must clearly state those limitations in the text of the award.

26.2 Subject to Article 26.3, a disputing party shall abide by and comply with an award without delay. 26.3 A disputing party may not seek enforcement of a final award until:

(a) ninety (90) days have elapsed from the date the award was rendered and no disputing party has commenced a proceeding to revise, set aside or annul the award, or

(b) a court has dismissed or allowed an application to revise, set aside or annul the award and there is no further appeal.

26.4. Authorities in each territory shall provide for the enforcement of an award in its territory in accordance with its law.

26.5 A claim that is submitted to arbitration under this Chapter shall be considered to arise out of a commercial relationship or transaction for purposes of Article I of the New York Convention.

Article 27. Costs

The disputing parties shall share the costs of the arbitration, with arbitrator fees, expenses, allowances and other administrative costs. The disputing parties shall also bear the cost of its representation in the arbitral proceedings. The Arbitral Tribunal may, however, in its discretion direct that the entire costs or a higher proportion of costs shall be borne by a disputing party and this determination shall be final and binding on both disputing parties.

Article 28. Appeals Facility

The Parties may by agreement or after the completion of their respective procedures regarding the enforcement of this Agreement may establish an institutional mechanism to develop an appellate body or similar mechanism to review awards rendered by Arbitral Tribunals under this Chapter. Such appellate body or similar mechanism may be designed to provide coherence to the interpretation of provisions in this Agreement. In developing such a mechanism, the Parties may take into account the following issues, among others:

(a) the nature and composition of an appellate body or similar mechanism;

(b) the scope and standard of review of such an appellate body;

(c) transparency of proceedings of the appellate body or similar mechanism;

(d) the effect of decisions by an appellate body or similar mechanism or similar mechanism;

(e) the relationship of review by an appellate body or similar mechanism to the arbitral rules that may be selected under Article16.1 of this Agreement; and

(f) the relationship of review by an appellate body or similar mechanism to existing domestic laws and international law on the enforcement of arbitral awards.

Chapter V. Dispute Settlement between Parties

Article 29. Disputes between Parties

29.1 Disputes between the Parties concerning: (a) the interpretation or application of this Agreement, or (b) whether there has been compliance with obligations to consult in good faith under Article 35, should, as far as possible, be settled through consultation or negotiation, which may include the use of non-binding third-party mediation or other mechanisms.

29.2 If a dispute between the Parties cannot be settled within six (6) months from the time the dispute arose, it shall upon the request of either Party be submitted to a Tribunal.

29.3 Such a Tribunal shall be constituted for each individual case in the following way: Within two months of the receipt of the request for arbitration, each Party shall appoint one member of the Tribunal. Those two members shall then select a national of a third State who, on approval by the two Parties, shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within two months from the date of appointment of the other two members.

29.4 If within the periods specified in Article 29.3 the necessary appointment(s) have not been made, either Party may, in the absence of any other agreement, invite the Secretary General of the Permanent Court of Arbitration to make any necessary appointment(s).

29.5 The Tribunal shall reach its decision by a majority of votes. Such decision shall be binding on both Parties.

29.6 The Parties to the arbitration shall share the costs of the arbitration, including the arbitrator fees, expenses, allowances and other administrative costs. Each Party shall bear the cost of its representation in the arbitral proceedings. The Tribunal may, however, in its discretion direct that the entire costs or a higher proportion of costs shall be borne by one of the Parties and this determination shall be binding on both Parties.

29.7 The Tribunal shall decide all questions relating to its competence and its own procedure, subject to any agreement between the Parties.

Chapter VI. Prudential Measures and Exceptions

Article 30. Prudential Measures

Notwithstanding any other provisions in this Agreement, authorities of a territory shall not be prevented from taking measures relating to financial services for prudential reasons, including measures for the protection of investors, depositors, policy holders or natural or juridical persons to whom a fiduciary duty is owed by an entity supplying financial services, or to ensure the integrity and stability of its financial and monetary system. Where such measures do not conform with the provisions of the Agreement, they shall not be used as a means of avoiding commitments or obligations under this Agreement.

Article 31. General Exceptions

31.1 Nothing in this Agreement shall be construed to prevent the adoption or enforcement by the authorities of the territory, of measures of general applicability applied on a non-discriminatory basis that are necessary (2) to:

(a) protect public morals or maintaining public order;

(b) protect human, animal or plant life or health;

(c) ensure compliance with law and regulations that are not inconsistent with the provisions of this Agreement;

(d) protect and conserve the environment, including all living and non-living natural resources;

(e) protect national treasures or monuments of artistic, cultural, historic or archaeological value.

31.2 Nothing in this Agreement shall apply to non-discriminatory measures of general application taken by a central bank or monetary authority of the territory in pursuit of monetary and related credit policies or exchange rate policies. This paragraph is without prejudice to a Party's rights and obligations under Article 6 [Transfers].

Article 32. Security Exceptions

32.1 Nothing in this Agreement shall be construed:

(a) to require the authorities of the territory to furnish any information, the disclosure of which it considers contrary to its essential security interests; or

(b) to prevent the authorities of the territory from taking any action which it considers necessary for the protection of its essential security interests including but not limited to:

(i) action relating to fissionable and fusionable materials or the materials from which they are derived;

(ii) action taken in time of war or other emergency in domestic or international relations;

(iii) action relating to the traffic in arms, ammunition and implements of war and to such traffic in other goods and materials as is carried on directly or indirectly for the purpose of supplying a military establishment;

(iv) action taken so as to protect critical public infrastructure including communication, power and water infrastructures from deliberate attempts intended to disable or degrade such infrastructure;

(v) any policy, requirement or measure including, without limitation, a requirement obtaining (or denying) any security clearance to any company, personnel or equipment; or

(c) to prevent the authorities of the territory from taking any action in accordance with the United Nations Charter for the maintenance of international peace and security.

32.2 Hach Party shall inform the other Party to the fullest extent possible of measures taken under Article 32.1 and of their termination.

32.3. Nothing in this Chapter shall be construed to require authorities of a territory to accord the benefits of this Agreement to an investor of the other territory where the authorities of the territory adopts or maintains measures in any legislation or regulations which it considers necessary for the protection of its essential security interests with respect to any non-Party territory or an investor of such non-Party territory that would be violated or circumvented if the benefits of this Chapter were accorded to such juridical person or to its investments.

32.4 This Article shall be interpreted in accordance with the understanding of the Parties on security exceptions as set out in the Annex, which shall form an integral part of this Agreement.