CONFIDENTIAL
4
7.
The last sentence of Article 2(2) of the Hong Kong model, which Covers the observation of obligations by each
Contracting Party with regard to investments, was moved to a
separate article (Article 3
see paragraph 8 below).
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ARTICLE 3: Particular obligations
8.
Article 3 (1) is based on Article 2 (2) of the Hong Kong model (see paragraph 7 above). At the request of the French it was elaborated to make clear that the Contracting shall observe any obligations arising from provisions more favourable than those of this Agreement.
delegation,
Parties
ARTICLE 4: Treatment of Investments and Returns
9.
Articles
Articles 4 (1) and 4(2) are substantively the same as 3 (1) and 3(2) of the Hong Kong model. Each paragraph was amended to make it clear that the treatment standard to be adopted would be that which is more favourable to the investor
concerned.
10.
4(2)
A reference
to
state
that
treatment
was added in the first sentence of Article
investors should be accorded
as regards their activities
most-favoured-nation
activities.
relating to their investment in general. A sentence was added in Article 4(2) to provide that personnel authorized to work in connection with an investment would be able to enjoy material facilities relevant to the exercise of their professional The French delegation considered a specific reference here as necessary and explained that it was a standard provision in other French IPPAs, including the PRC/French 1PPA. It is
however, that the provision of such facilities is to be in accordance with existing laws and regulations.
clear,
A