(b)
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4
consistent
limitation
with
Italian
laws
under which
of the right to enjoy an investment is
regarded as a form of expropriation;
the first sentence was amended to make clear that
any deprivation should be on a non-discriminatory basis
line with the general standards laid down in Article 3(1));
(in
treatment
(c)
the third sentence was added to
compensation
clarify
how
should be determined in the event
that the real value of the investment cannot be
readily ascertained; and
(d)
in
ARTICLE 6
8.
the fourth sentence, it was made clear that the
calculation of interest on compensation should start from the date of the deprivation.
Hong Kong model text.
This Article is very similar to Article 6 of the
The second sentence of Article 6(1)
request of the Italian delegation to clear that the provision did not affect investors' tax obligations.
was
included at the
make it
9.
In Article 6(2), which is closely based on Article 6(2) of the Hong Kong model text, a sentence was added indicating that transfer "without undue delay" means within the normal time needed for such a transaction. It was also made clear that the "exchange rate" referred to in this
sub-paragraph
time.
is the most favourable rate applicable at the
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