(c) âpublic entityâ means:
(i) a government, a central bank or a monetary authority of a State Party, or an entity owned or controlled by a State Party, that is principally engaged in carrying out governmental functions or activities for governmental purposes, not including an entity principally engaged in supplying financial services on commercial terms; or
(ii) a private entity, performing functions normally performed by a central bank or monetary authority, when exercising those functions;
(d) âself-regulatory organisationâ means a non-governmental body, including any organisation or association, that is recognised by a State Party as a self- regulatory organisation and exercises regulatory or supervisory authority over financial services suppliers by delegation from a State Party, when exercising
such authority. ARTICLE.2 National Treatment 1. With regard to payment and clearing systems, in accordance with national treatment,
each State Party shall grant to financial service suppliers of another State Party established in its territory on the basis ofits regulatory requirements, access to payment and clearing facilities operated by public entities and to official funding and refinancing facilities available in the normal course of ordinary business. This paragraph is not intended to confer access to a State Partyâs lender of last resort facilities.
2. With regard to self-regulatory organisations, when a State Party requires membership or participation in, or access to, any self-regulatory organisation, in order for financial service suppliers of the other State Party to supply financial services on an equal basis with financial service suppliers of the State Party, or when the State Party provides directly or indirectly such entities, privileges or advantages in supplying financial services, the State Party shall ensure that such entities accord national treatment to financial service suppliers established in the territory of that State Party in the sectors inscribed in its Schedule of Specific Commitments, and subject to any conditions and qualifications set out therein.
Article 3. Transparency
1. Each State Party shall promote regulatory transparency in financial services taking into account:
(a) the work undertaken by the State Parties under the GATS and in other fora relating to trade in financial services;
(b) the importance of regulatory transparency, of identifiable policy objectives and of clear and consistently applied regulatory processes; and
(c) any consultations that the State Parties may have between them.
2. The competent authorities of each State Party shall make available to interested persons domestic requirements and procedures for completing applications relating to the supply of financial services.
3. Where a licence is required for the supply of a financial service, the competent authorities of a State Party shall make the requirements for such a licence publicly available. The period of time normally required to reach a decision concerning an application for a licence should:
(a) be made available to the applicant upon request; (b) be made publicly available; or
(c) be made available by a combination of both.
Article 4. Application Procedures
1. The competent authorities of each State Party shall process without undue delay applications related to the supply of financial services submitted by service suppliers of other State Parties.
2. If the competent authorities of a State Party require additional information from the applicant in order to process its application, they shall notify the applicant without undue delay.
3. Upon request by the applicant, the competent authorities of a State Party shall provide, without undue delay, information concerning the status of its application.
4. The competent authorities of each State Party shall notify the applicant of the outcome of its application promptly after a decision is taken. In case a decision is taken to deny an application, the reason for the denial shall be made known to the applicant.
5. Where a licence is required for the supply of a financial service and if the applicable requirements are fulfilled, the competent authorities of a State Party shall grant the applicant a licence, within a reasonable period of time after the submission of its application is considered complete under that State Partyâs domestic laws and regulations.
Article 5. Domestic Regulation
1. Notwithstanding any other provision of Chapters 8 (Trade in Services) and 9 (Investment) of the Agreement, a State Party shall not be prevented from adopting or maintaining measures for prudential reasons, including for:
(a) the protection of investors, depositors, policy-holders, persons to whom a fiduciary duty is owed by a financial service supplier, or any similar financial market participants; or
(b) ensuring the integrity and stability of that State Partyâs financial system.
2. Where such measures do not conform with Chapters 8 (Trade in Services) and 9 (Investment) of the Agreement, they shall not be used as a means to avoid that State Partyâs commitments or obligations under Chapters 8 (Trade in Services) and 9 (Investment) of the Agreement.
3. Each State Party shall make its best endeavours to ensure that internationally agreed standards for regulation and supervision in the financial services sector and for the fight against tax evasion and avoidance are implemented and applied in its territory.
4. Nothing in Chapters 8 (Trade in Services) and 9 (Investment) of the Agreement shall be construed to require a State Party to disclose information relating to the affairs and accounts of individual clients and customers or any confidential or proprietary information in the possession of public entities.
Article 6. Mutual Recognition of Prudential Measures
1. A State Party may recognise prudential measures of another State Party in determining how the State Partyâs measures relating to financial services shall be applied. Such recognition, which may be achieved through harmonisation or otherwise, may be based upon an agreement or arrangement or may be accorded autonomously.
2. A State Party that is a party to an agreement or arrangement such as those referred to in paragraph 1 with a non-Party, whether future or existing, shall afford adequate opportunity for another State Party to negotiate its accession to such agreement or arrangement or to negotiate comparable ones with it, under circumstances in which there would be equivalent regulation, oversight, implementation of such regulation, and, if appropriate, procedures concerning the sharing of information between the parties to the agreement or arrangement. Where a State Party accords recognition autonomously, it shall afford adequate opportunity for another State Party to demonstrate that such circumstances exist.
ANNEX XIV
REFERRED TO IN ARTICLE 8.21
MOVEMENT OF NATURAL PERSONS SUPPLYING SERVICES
ANNEX XIV REFERRED TO IN ARTICLE 8.21
MOVEMENT OF NATURAL PERSONS SUPPLYING SERVICES
Article 1. Scope
This Annex applies to measures by a State Party affecting natural persons of another State Party covered by its Schedule of Specific Commitments.
Article 2. General Principles
This Annex reflects the preferential trade relations between the State Parties, the common objective to facilitate entry, temporary stay and work of natural persons on a mutually advantageous basis and in accordance with the State Partiesâ Schedules of Specific Commitments, and the need to establish transparent, secure, effective and comprehensive information on, and procedures for, entry, temporary stay and work.
Article 3. Provision of Information
1, In accordance with Article 8.11 (Transparency) of the Agreement, each State Party shall make publicly available information necessary for an effective application for the granting of entry, temporary stay and work in its territory. Such information shall be kept updated.
2. The information referred to in paragraph 1 shall include, in particular, a description of:
(a) all categories of visas and work permits relevant to the entry, temporary stay and work of natural persons covered by this Annex;
(b) requirements and procedures for application for, and issuance of, first-time entry, temporary stay and, where applicable, work permits, including information on documentation required, conditions to be met and method of filing; and
(c) requirements and procedures for application for, and issuance of, renewed temporary stay and, where applicable, work permits.
3. Each State Party shall provide the other State Parties with details of relevant publications or websites where information referred to in paragraph 2 is made available.
4. Should the implementation of paragraph 1 prove not to be practicable for a State Party, that State Party shall provide the information referred to in paragraph 2, as well as any subsequent change thereto, to the other State Parties. In addition, that State Party shall indicate to the other State Parties the contact details of an authority where service suppliers of the other State Parties can, upon request, obtain the information referred to under paragraph 2.
Article 4. Contact Points
Each State Party shall establish contact points to facilitate access for service providers of the other State Parties to the information referred to in Article 3 (Provision of Information). The contact points are:
(a) for Iceland, the Ministry of Foreign Affairs;
(b) for Liechtenstein, the Office for Foreign Affairs;
(c) for Norway, the Directorate of Immigration;
(d) for Switzerland, the State Secretariat for Economic Affairs;
(e) for Argentina, the Ministry of Foreign Affairs, International Trade and Worship;
( for Brazil, the Ministry of Foreign Affairs; (g) for Paraguay, the Ministry of Foreign Affairs; and (hb) for Uruguay, the Ministry of Foreign Affairs.
Article 5. Expeditious Application Procedures
1. The competent authorities of each State Party shall expeditiously process applications for granting entry, temporary stay or work permits submitted by service suppliers of other State Parties, including applications for extensions thereof.
2. If the competent authorities of a State Party require additional information from an applicant in order to process its application, they shall notify the applicant without undue delay.
3. Upon request by an applicant, the competent authorities of a State Party shall provide, without undue delay, information concerning the status of its application.
4. The competent authorities of each State Party shall notify the applicant for entry, temporary stay or work permit of the outcome of its application promptly after a decision has been taken. The notification shall include, if applicable, the period of stay and any other terms and conditions.
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APPENDIX 1 TO ANNEX XV ARGENTINA â SCHEDULE OF SPECIFIC COMMITMENTS
This Schedule of Specific Commitments is elaborated on the basis of a positive list approach and based on the International Standard Industrial Classification (ISIC â Rev.3).
The first column of the schedule identifies the sector or sub-sector in which a commitment is undertaken by Argentina. The second column describes limitations on national treatment; other descriptions are also included for the purpose of transparency.
For greater certainty, where no reference is made to a specific sector or sub-sector, it should be interpreted that Argentina is not taking any commitments for that specific sector or sub-sector.
This Schedule of Specific Commitments is based on the assumption that the Agreement shall not interfere with the capacity of Argentina to pursue the objectives of its fiscal policies.
Sector or sub-sector
Limitations on national treatment
I. HORIZONTAL COMMITMENTS
ALL SECTORS
This Schedule of Specific Commitments shall not be construed as imposing any obligation regarding subsidies or grants provided by Argentina, including loans, guarantees and insurance.
ALL SECTORS
Acquisition of land: unbound. Argentina reserves the right to adopt or maintain any measure relating to the acquisition of rural land, real estate containing or adjacent to significant and permanent water courses or lakes, and real estate located in border security areas. In particular, foreign individuals and companies carrying on investment projects with a majority of Argentine personnel can acquire buildings and/or exploitation permits and concessions in Security Areas, only with prior authorisation.
ALL SECTORS
The absolute majority of the directors of a juridical person must reside in Argentina.
ALL SECTORS
In cases of state enterprises subject to privatisation, Argentina reserves the right to establish special share arrangements (such as the retention of âgolden sharesâ) and/or to grant preferences in the purchase of shares to the employees of such state enterprise subject to privatisation.
ALL SECTORS
Argentina reserves the right to adopt or maintain any measure aimed at stimulating the development of its least developed regions, borders areas, and at reducing regional inequalities, as well as those necessary to ensure social inclusion and industrial development.
ALL SECTORS
Argentina reserves the right to adopt or maintain any measure relating to the generation of nuclear energy, nuclear fuel production and supply, nuclear materials, treatment and
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Sector or sub-sector
Limitations on national treatment
disposal of radioactive waste, and radioisotope and radiation generating facilities.
I. SECTOR-SPECIFIC COMMITMENTS
A. AGRICULTURE,
HUNTING AND FORESTRY
01. Agriculture, hunting | None 02. Forestry, logging None
B. FISHING
05. Fishing, operation of fish hatcheries and fish farms
Argentina reserves the right to adopt or maintain measures related to fishing, aquaculture and related activities, regarding domicile, residence or nationality requirements for natural or juridical persons, in connection with the exploitation of living resources in Argentine internal waters, maritime areas under its jurisdiction and its continental shelf.
Argentina also reserves the right to adopt or maintain regulations, including sanctions, with regard to navigation, in maritime areas subject to its jurisdiction, composition of the crew and content (fish caught, equipment and fishing gear) of vessels used in the fishing industry.
In particular, Argentina maintains the following measures:
(a) exploitation of live maritime resources is only granted to natural persons with residence in Argentina or to juridical persons established according to domestic laws and regulations.
(b) foreign flag vessels activity must comply with the terms of Law No. 24.922. Foreign flag vessels are only admitted jointly with one or more companies locally registered, as determined by Law No. 19.550.
(c) vessels employed in the fishing industry must be enrolled in the corresponding Argentine registry and raise the Argentine flag. (d) crew members of all fishing vessels must comply with the following requirements: (i) captains and officers must be Argentine nationals, either by birth, option or naturalisation;
Sector or sub-sector
Limitations on national treatment
(ii) 75% of the rest of crew members aboard fishing vessels must be either Argentine nationals or foreigners with more than ten years of permanent residence in Argentina effectively accredited; and
(iii) in case the percentage established in paragraph b is not possible due to lack of personnel, foreign personnel may provisionally board until the percentage of Argentine crew is re-established, subject to compliance with all current legal requirements. When Argentine crew members are available, the crew must be completed with them.
(e) In case of violation of domestic laws or regulations foreign vessels may, in addition to paying the corresponding penalty, be retained at an Argentine port until payment of fines is complied with or satisfactory guarantees are constituted thereof.
C. MINING AND QUARRYING
For the purposes of transparency, investment in this sector is subject to the terms and conditions specified in the permits, concessions or other rights granted by the relevant mining authority.
10. Mining of coal and | None lignite; extraction of
peat
13. Mining of metal None ores
14, Other mining and None
quarrying
D. MANUFACTURING
Sector or sub-sector Limitations on national treatment
15. Manufacture of None food products and beverages
16, Manufacture of None
tobacco products.
17. Manufacture of None textiles
18. Manufacture of None wearing apparel; dressing and dyeing of fur
19, Tanning and None dressing of leather; manufacture of luggage, handbags, harness and footwear
20. Manufacture of None wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting
materials
21. Manufacture of None
paper and paper
products
24. Manufacture of Law No. 26.334 establishes that, in order to enjoy the benefits
chemicals and chemical | listed in Chapters I and II of Law No. 26.093, controlling
products shareholders of juridical persons producing bioethanol must be Argentine nationals or juridical persons controlled by Argentine nationals.
Sector or sub-sector
Limitations on national treatment
25. Manufacture of rubber and plastics products.
None
26. Manufacture of other non-metallic mineral products.
None
27. Manufacture of basic metals
None
28. Manufacture of fabricated metal products, except machinery and equipment
None
29. Manufacture of machinery and equipment n.e.c., except for manufacture of weapons and ammunition (class 2927)
None. For the purposes of transparency, investment in class 2911 and group 292 might be subject to measures aimed at fostering the local value chain of this class and group.
30. Manufacture of office, accounting and computing machinery
None
31. Manufacture of electrical machinery and apparatus n.e.c.
None. For the purposes of transparency, investment in classes 3110 and 3120 might be subject to measures aimed at fostering the local value chain of these classes.
32, Manufacture of tadio, television and communication
None
Sector or sub-sector
Limitations on national treatment
equipment and apparatus
33. Manufacture of medical, precision and optical instruments, watches and clocks
None. For the purposes of transparency, investment in class 3311 might be subject to measures aimed at fostering the local value chain of this class.