TNAG-2826-FCO40-4079-Investment-Protection-and-Promotion-Agreements-(IPPA)-betwee-1993 — Page 101

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ARTICLE 5

1

Expropriation

(1)

Investors of either Contracting Party shall not be

investments nor subjected to measures

deprived of their

having,

directly or indirectly, an effect equivalent to such

deprivation in the area of the other Contracting Party

except

and

lawfully and on a non discriminatory basis, for a

public purpose related to the internal needs of that Party,

against appropriate compensation as provided for in this

Such deprivation shall not be contrary to a

Compensation shall

Article.

particular obligation.

real

amount to the

value of the investment immediately before the

deprivation or before the impending deprivation became

public knowledge whichever is the earlier, shall include

interest at а normal commercial

rate until the date of

payment, shall be made without delay, be effectively

realizable and be freely convertible. The investor affected

shall have a right, in accordance with the law of the

Contracting Party making the deprivation, to prompt review

by a judicial or other independent authority of that Party,

of the investor's case and of the valuation of the

investment in accordance with the principles set out in this

paragraph.

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