TNAG-2827-FCO40-4080-Investment-Protection-and-Promotion-Agreements-(IPPA)-betwee-1993 — Page 67

Amendment 1

Annex

Proposed amendments to Hong Kong/Germany IPPA

Article 1

# replace "its area" with the territory of

the Federal Republic of Germany

(4) the term "investors" means:

b)

in respect of the Federal Republic of Germany:

Germans within the meaning of the Basic Law of the Federal Republic of Germany,

any juridical person as well as any commercial or other company or association with or without legal personality having its seat in #its area, irrespective of whether or not its activities are directed at profit;

Amendment 2

* replace "and" with it shall

also recognise

(1)

Article 7

If one Contracting Party or its designated Agency makes a payment under an indemnity given in respect of an investment in the area of the other Contracting Party, the latter Contracting Party shall recognise the assignment to the former Contracting Party or its designated Agency by law or by legal transaction of all the rights and claims of the indemnified investor * and that the former Contractig Party or its designated Agency is entitled to exercise such rights and enforce such claims by virtue of subrogation, to the same extent as that investor.

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