13. Sector : All sectors
Sub-sector : -
Level of Government : Local
Legal Source or Authority of the Measure: -
Description of the Measure: Thailand reserves the right to adopt or maintain any measure with respect to culture.
14. Sector : All sectors
Sub-sector : -
Level of Government : All levels
Legal Source or Authority of the Measure: Constitution of the Kingdom of Thailand B.E.2560 (2017).
Martial Law B.E.2457 (1914), as amended
Emergency Decree on Public Administration in Emergency Situation B.E.2548 (2005), as amended.
Internal Security Act B.E.2551(2008), as amended.
Description of the Measure: Thailand reserves the right to maintain any measures pursuant to the existing orders of the Head of the National Council for Peace and Order.
In the event of the occurrence of an emergency situation and the Prime Minister considers that it is appropriate to use the force of administrative officials or police officers, civil officials or military officers to jointly provide assistance, prevent, remedy, suppress, withhold the emergency situation, rehabilitate or provide assistance to the people, the Prime Minister, upon the approval of the Council of Ministers, is empowered to declare an emergency situation applicable to the whole country or in some area or locality as necessary for the situation.
APPENDIX 2 TO ANNEX XVI. RESERVATIONS BY ICELAND
Sector: All sectors
Sub-sector: -
Legal source or authority of the measure: Law No. 138/1994 Respecting Private Limited Companies, Law No. 2/1995.
Respecting Public Limited Companies, Law No. 34/1991 on Investment by Non-Residents in Business Enterprises.
Description of the measure: The majority of the founders, the manager(s) and at least half the board of directors, of a private limited company or a public limited company must either be resident in Iceland, in another member state of the European Economic Area, in another member state of the European Free Trade Association or in the Faroe Islands. (1) The Minister of Commerce can grant exemptions from these restrictions.
Purpose or motivation of the measure: To ensure that the legal venue of the majority of the board of directors and managers is within Icelandic jurisdiction.
Sector: All sectors
Sub-sector: -
Legal source or authority of the measure: Law No. 19/1966 on the Right to Own and Use Real Estate.
Law No. 34/1991 on Investment by Non-Residents in Business Enterprises.
Description of the measure: Only Icelandic citizens and Icelandic legal entities and citizens and legal entities from another member state of the European Economic Area, another member state of the European Free Trade Association or from the Faroe Islands are allowed to own real estate in Iceland unless the ownership and use is linked to an investment in real estate pertaining to the business activity of the investor.(2) The same applies to the hiring of a real estate if the duration of the lease lasts for more than 3 years. These restrictions do not apply to a nonEuropean Economic Area (EEA) citizen who has been residing in Iceland for at least five years. The Minister of Justice can grant exemptions from these restrictions.
Purpose or motivation of the measure: Fluctuations in real estate prices due to possible excess foreign demand can adversely affect the domestic market for housing and summer houses (secondary homes).
Sector: Fisheries
Sub-sector: Fishing, whaling
Legal source or authority of the measure: Law No. 22/1998 on the Fishing and Fish processing of Foreign Vessels in Iceland’s Economic Zone.
Law No. 34/1991 on Investment by Non-Residents in Business Enterprises, Law No. 26/1949 on Whaling.
Description of the measure:
Only the following may conduct fishing operations within the Icelandic fisheries jurisdiction:
(a) Icelandic citizens and other Icelandic persons.
(b) Icelandic legal persons which are wholly owned by Icelandic persons or Icelandic legal persons which:
(i) are controlled by Icelandic entities;
(ii) are not under more than 25% ownership of Fforeign residents calculated on the basis of share capital or initial capital. However, if the share of an Icelandic legal person in a legal person conducting fishing operations in the Icelandic fisheries jurisdiction or fish processing in Iceland is not above 5%, the share of the foreign resident may be up to 33%;
(iii) are in other respects under the ownership of Icelandic citizens or Icelandic legal persons controlled by Icelandic persons.
Purpose or motivation of the measure: The relative economic importance of the fishing industry for Iceland, with fish and fish products constituting a substantial share of the country’s foreign earnings, as well as Iceland’s determination to maintain a sustainable yield from its fishing stocks. The control and surveillance regarding the preservation of Icelandic fish stocks needs to be under Icelandic jurisdiction.
Sector: Fisheries
Sub-sector: Fish Processing
Legal source or authority of the measure: Law No. 34/1991 on Investment by Non-Residents in Business Enterprises.
Description of the measure: Only the following may own or run enterprises engaged in fish processing in Iceland:
(a) Icelandic citizens and other Icelandic persons.
(b) Icelandic legal persons which are wholly owned by Icelandic persons or Icelandic legal persons which:
(i) are controlled by Icelandic entities;
(ii) are not under more than 25% ownership of foreign residents calculated on the basis of share capital or initial capital. However, if the share of an Icelandic legal person in a legal person conducting fishing operations in the Icelandic fisheries jurisdiction or fish processing in Iceland is not above 5%, the share of the foreign resident may be up to 33%;
(iii) are in other respects under the ownership of Icelandic citizens or Icelandic legal persons controlled by Icelandic persons.
Fish processing in this context is freezing, salting, drying and any other process used to initially preserve fish and fish products, including melting and meal processing. This reservation does not apply to secondary fish processing.
Purpose or motivation of the measure: The reservation on fish processing is an integral part of retaining control in the field of fishing and whaling. The relative economic importance of the fishing industry for Iceland, with fish and fish products constituting a substantial share of the country’s foreign earnings, as well as Iceland’s determination to maintain a sustained yield from its fishing stocks. The control and surveillance regarding the preservation of Icelandic fish stocks needs to be under Icelandic jurisdiction.
Sector: Fisheries
Sub-sector: Fish Auctioning
Legal source or authority of the measure: Law No. 79/2005 on the Auctioning of Fish.
Description of the measure:
Only Icelandic citizens and Icelandic legal entities and citizens and legal entities from another member state of the European Economic Area, from another member state of the European Free Trade Association or from the Faroe Islands are allowed to own and manage enterprises engaged in fish auctioning in Iceland. (3)
Purpose or motivation of the measure:
The reservation on fish auctioning is an integral part of retaining control in the field of fishing and whaling. The relative economic importance of the fishing industry for Iceland, with fish and fish products constituting a substantial share of the country’s foreign earnings, as well as Iceland’s determination to maintain a sustained yield from its fishing stocks. The control and surveillance regarding the preservation of Icelandic fish stocks needs to be under Icelandic jurisdiction.
Sector: Energy
Sub-sector: Energy production and distribution
Legal source or authority of the measure: Law No. 34/1991 on Investment by Non-Residents in Business Enterprises.
Description of the measure: Only Icelandic citizens and legal entities, and citizens and legal entities from another member state of the European Economic Area, from another member state of the European Free Trade Association or from the Faroe Islands, can own the right to harness hydroelectric and geothermal power other than for own personal home use. (4) The same applies to investment in enterprises engaged in power production and power distribution.
Purpose or motivation of the measure: Apart from the fish stock, hydroelectric power and geothermal power are Iceland’s most important natural resources. Their utilisation need to be centrally administered through licensing and co-generation agreements. The power production and power distribution are public utilities which to a large degree operate as public monopolies.
Sector: All sectors
Sub-sector: -
Legal source or authority of the measure: -
Description of the measure:
Foreign investments, including foreign participation in Icelandic companies, may be subject to prior notification requirements, examination or authorization by relevant Icelandic authorities.
Purpose or motivation of the measure: Iceland is currently considering a framework for screening foreign investments relating to the safeguarding of essential security interests, including national security.
APPENDIX 3 TO ANNEX XVI. RESERVATIONS BY LIECHTENSTEIN
Sector: All sectors
Sub-sector: -
Legal source or authority of the measure:-
Description of the measure: The establishment of a commercial presence by a juridical person (including branches) is subject to the requirement that no objection for reasons of national economy (balanced proportion of national and foreign capital; balanced ratio of foreigners in comparison with the number of resident population; balanced ratio of total number of jobs in the economy in comparison with the number of the resident population; balanced geographic situation; balanced development of the national economy, between and within the sectors) exists.
Purpose or motivation of the measure: To ensure a balanced development of the national economy, taking into account the specific geographic situation of the country, its limited resources and the small labour market.
Sector: All sectors
Sub-sector: -
Legal source or authority of the measure: Gewerbegesetz (Commercial Law Act) of 30 September 2020, LR 930.1.
Personen- und Gesellschaftsrecht (Persons and Companies Act) of 20 January 1926, LR 216.0.
Description of the measure:
The establishment of a commercial presence by an individual is subject to the requirement of prior continued residence during a certain period of time and of permanent domicile in Liechtenstein.
The establishment of a commercial presence by a juridical person (including branches) is subject to the following requirements: At least one of the managers has to fulfil the requirement of prior continued residence during a certain period of time and of permanent domicile in Liechtenstein.
General and the limited partnerships have to fulfil the same conditions as corporations with limited liability (juridical persons).
The Liechtenstein company law does not prohibit joint stock companies from foreseeing in their articles of incorporation the preclusion or limitation of the transfer of registered shares.
Purpose or motivation of the measure: To facilitate judicial proceedings.
Sector: All sectors
Sub-sector: -
Legal source or authority of the measure: Grundverkehrsgesetz (Law on the acquisition of real estate) of 9 December 1992, LR 214.11.
Description of the measure:
All acquisitions of real estate are subject to authorisation. Such authorisation is granted only if an actual and proven requirement for living or business purposes is given and acertain period of residence has been completed. Nonresidents- are excluded from the acquisition of real estate.
Purpose or motivation of the measure: Extreme scarcity of available land. Preservation of access to real estate for the resident population and maintenance of a balanced geographic situation.
Sector: All sectors
Sub-sector: -
Legal source or authority of the measure: Agreement on the European Economic Area of 2 May 1992 (EEA Agreement).
Description of the measure: Treatment accorded to subsidiaries of third-country companies formed in accordance with the law of an EEA Member State and having registered office, central administration or principal place of business within an EEA Member State is not extended to branches or agencies established in an EEA Member State by a third country-company.
Treatment less favourable may be accorded to subsidiaries of third countries having only their registered office in the territory of an EEA Member State unless they show that they possess an effective and continuous link with the economy of one of the EEA Member States.
Purpose or motivation of the measure: To ensure that benefits from the EEA Agreement are not automatically accorded to third countries.
Sector: Energy sector
Sub-sector: -
Legal source or authority of the measure:-
Description of the measure: Liechtenstein reserves the right to maintain or adopt any measure with respect to the energy sector.
Purpose or motivation of the measure: Energy policy considerations and national security.
APPENDIX 4 TO ANNEX XVI. RESERVATIONS BY NORWAY
Sector: All sectors
Sub-sector: -
Legal source or authority of the measure: (1)
Act of 13 June 1997 No. 45 on Public Limited Liability Companies.
Act of 13 June 1997 No. 44 on Private Limited Liability Companies.
Act of 15 June 2001 No. 59 on Foundations.
Act of 29 June 2007 No. 81 on Cooperative Societies.
Description of the measure:
The general manager in a limited liability company or a cooperative, at least half of the members of the board of directors and of the corporate assembly in a limited liability company, and at least half of the members of the board of directors in a cooperative or a foundation must be residents of Norway. The residency criteria do not apply to nationals of a European Economic Area (EEA) Member State who are permanent residents of one of these States. (2) The Ministry of Trade, Industry and Fisheries may grant exemptions from this provision.
Purpose or motivation of the measure: The resident criteria are based on reasons of jurisdiction, in order to ensure that the persons responsible for the company's affairs are accessible.
Sector: Power and Energy sector
Sub-sector: -
Legal source or authority of the measure: -
Description of the measure: Norway reserves the right to maintain or adopt any measure with respect to the power and energy sector.
Purpose or motivation of the measure: Energy policy considerations.
Sector: Repair of Transport Equipment sector
Sub-sector: -
Legal source or authority of the measure:
Description of the measure:
Norway reserves the right to maintain or adopt any measure with respect to the repair of transport equipment sector in Chapter 6 (Investment), as all activities in this sector shall be treated as services under the Agreement.
Purpose or motivation of the measure: To ensure the policy that any commitments in this area are adopted in Chapter 5 (Trade in Services) of the Agreement.
Sector: Fishing and fish processing
Sub-sector: -
Legal source or authority of the measure: Marine Resources Act of 6 June 2008, No. 37.
Regulation of Participation in Fishing Act of 26 March 1999, No. 15.
Economic Zone Act of 17 December 1976, No. 91.
The Fishing Limit Act of 17 June 1966, No. 19.