TNAG-2826-FCO40-4079-Investment-Protection-and-Promotion-Agreements-(IPPA)-betwee-1993 — Page 34

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ARTICLE 5

Expropriation

(1)

deprived of their

having,

Investors of either Contracting Party shall not be

investments nor subjected to measures

directly or indirectly, an effect equivalent to such

deprivation in the area of the other Contracting Party

and on a non discriminatory basis, for a

related to the internal needs of that Party,

except

lawfully

public purpose

and

Article.

against appropriate compensation as provided for in this

Such deprivation shall not be contrary to a

Compensation shall amount to the

---、

particular obligation.

real value of the investment immediately before the

deprivation or before the impending deprivation became

public knowledge whichever is the earlier, shall include

interest at a normal commercial rate until the date of

be made without delay, be effectively

realizable and be freely convertible. The investor affected

payment,

shall have

shall

right, a

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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