14
041244
MDLOAN 1331
CONFIDENTIAL
FM FCO
TO PRIORITY HONG KONG
TELNO 321
OF 04103UZ
INFO
PRIORITY PEKING
FEBRUARY 88
CONFIDENTIAL
TOP COPY Q DIST.?
MKC 102/1
SOL
MIPT MIGA
1.
FOLLOWING IS TEXT OF RESPONSE RECEIVED FROM VOSS OF
THE WORLD BANK:
BEGINS
IN CONNECTION WITH YOUR MEMORANDUM OF JANUARY 11, 1988, I HAVE REVIEWED OUR FILES RELATING TO THE RATIFICATION BY THE UNITED
KINGDOM OF THE ICSID CONVENTION. AS YOU POINT OUT IN YOUR
MEMORANDUM. THE UNITED KINGDOM HAD NOTIFIED THE WORLD BANK AS
DEPOSITORY OF THE SAID CONVENTION THAT IT EXCLUDED FROM THE
APPLICATION OF THE CONVENTION CERTAIN TERRITORIES FOR WHOSE
INTER ATIONAL RELATIONS IT WAS RESPONSIBLE QUOTE PENDING WRITTEN
NOTIFICATION TO THE CONTRARY UNQUOTE. THE BANK NOTIFIED THE SIGNATORY STATES OF THE CONVENTION ACCORDINGLY AND NO OBJECTIONS
WERE RAISED TO THE CONDITIONAL EXCLUSION OF DEPENDENT
TERRITORIES. SUBSEQUENTLY, THE UNITED KINGDOM WITHDREW THESE
EXCLUSIONS WITH RESPECT TO THE BAILIWICK OF GUERNSEY AND THE
ISLE OF MAN. THE BANK NOTIFIED THE SIGNATORY STATES OF THESE
WITHDRAWALS, AND NO OBJECTION WAS RAISED.
IF THE UNITED KINGDOM IN RATIFYING THE MIGA CONVENTION
FOLLOWS
THE SAME PROCESS WITH RESPECT TO DEPENDENT TERRITORIES AS IT DID
IN ICSID, THE BANK WOULD PROBABLY FOLLOW THE ABOVE NOTIFICATION PROCEDURES. WHILE I CANNOT, OF COURSE, SPEAK FOR MIGA'S GOVERNING BODIES OR MEMBERS, I WOULD NOT EXPECT PROBLEMS TO BE
RAISED IN THIS REGARD.
·
PLEASE NOTE, HOWEVER, THAT THE EXTENSION OF THE MIGA CONVENTION TO DEPENDENT TERRITORIES UNDER ITS ARTICLE 66 DOES NOT IN ITSELF
CLASSIFY SUCH TERRITORIES AS DEVELOPING MEMBER COUNTRIES FOR PURPOSES OF ARTICLE 14 IN THIS REGARD, PARAGRAPH 1.21 OF THE DRAFT OPERATIONAL REGULATIONS ON THE BASIS OF PARAGRAPH 24 OF THE
COMMENTARY ON THE MIGA CONVENTION PROVIDES THAT QUOTE A DEPENDENT
TERRITORY FOR WHOSE INTERNATIONAL RELATIONS A MEMBER IS
RESPONSIBLE MAY BE DESIGNATED BY THE BOARD AS A DEVELOPING
COUNTRY FOR THE PURPOSES OF ARTICLE 14 OF THE CONVENTION IF THE
MEMBER SO REQUESTS PROVIDED HOWEVER THAT INVESTMENTS OF THAT
1
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CONFIDENTIAL
MEMBER
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