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पै
ARTICLE 7
Exceptions
The provisions in this Agreement relative to the grant of treatment not less favourable than that accorded to the investors of either Contracting Party or to investors of any other State shall not be construed so as to oblige one Contracting Party to extend to the investors of the other the benefit of any treatment, preference or privilege resulting from :
(a)
(b)
any international agreement or arrangement relating wholly or mainly to taxation or any domestic legislation relating wholly or mainly, to taxation;
any international agreement or arrangement establishing a common market, free trade area or customs union.
(2) The treatment granted to investments under the Commercial Agreements which Sweden has concluded with the Ivory Coast on 27 August 1965, with Madagascar on 2 April 1966 and with Senegal on 24 February 1967 shall not be invoked as the basis Of most favoured nation treatment under this Agreement.
ARTICLE 8
Subrogation
(1) If one Contracting Party, its designated Agency or a company (as defined in Article 1(2) of this Agreement) other than an investor (the "Indemnifying Party") makes a payment under an indemnity or guarantee given in respect of an investment in the area of the other Contracting Party, the latter Contracting Party shall recognise the assignment to the Indemnifying Party by law or by legal transaction of all the rights and claims of the indemnified investor and that the Indemnifying Party is entitled to exercise such rights and enforce such claims by virtue of subrogation, to the same extent as that investor.
(2) The Indemnifying Party shall be entitled in all circumstances to the same treatment in respect of the rights and claims acquired by it by virtue of the assignment and any payments received in pursuance of those rights and claims as the indemnified investor was entitled to receive by virtue of this Agreement in respect of the investment concerned and its related returns.
(3) Any payments received by the Indemnifying Party in pursuance of the rights and claims acquired shall be freely convertible.
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