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