CONFIDENTIAL
2
(a)
(b)
(c)
(d)
their
the definitions
were re-ordered to reflect relative importance rather than to follow English alphabetical order as in the Hong Kong model;
the definition of "investment" (Article 1(2) of the initialled text and Article 1(e) of the Hong Kong model text) was elaborated to make clear that indirectly held investments were covered and to include some additional examples;
investments,
the provision that the term 'investment' includes all whether made before or after the entry into force of the Agreement, now constitutes a separate article (Article 12). The French delegation took the view that this was not a question of definition but an important aspect of application of the Agreement;
for simplicity, the definition of "companies" (Article 1 (b) of the model text) was wrapped up into that of "investors" (Article 1(f) of the model text and Article 1 (3) of the initialled text).
(e)
the
definition of "investors", in Article 1(3) was amended, at the request of the French delegation, to meet the requirements of French law so as to cover only having their head offices in their respective It also includes the concept of "indirect
The French Government
companies
areas.
control" of an
investment,
regards a specific reference to head office and control as well as ownership of investments as an essential
element
of
any IPPA, and
a similar
reference
A