CONFIDENTIAL
Annex B
Agreement
between the Government of Hong Kong and
the Government of the Italian Republic for the Promotion and Protection of Investments
Article-by-Article Comparison between the
Initialled Text and the Text of
the Hong Kong Model Agreement
PREAMBLE
paragraph
A phrase
to
define
was added to
"Contracting
first the
preambular
Parties" as referred to
later in the text.
ARTICLE 1
2.
Article 1 18
substantively the same as Article 1
of the Hong Kong model.
at the request of the Italian side to
particular concerns, as follows:
However, a few changes were made
(a) the definition of "companies"
Italian
reflect
their
in respect of the
Republic (Article
the 1 (2) (b) of
initialled text and Article 1(b) (ii) of the Hong Kong model text) was elaborated to refer expressly to "foundations" and "public institutions" which, under Italian laws, would cover companies which are publicly funded through which much of Italian
channelled.
overseas
investment
is
It
was
understood, however, that these terms are implicit
within the general definition adopted for Hong
Kong
'companies'
ensured;
and full
3
CONFIDENTIAL
reciprocity
is
thus