Resolução

Resolução da Assembleia da República n.º 20/2002

Aprova o Acordo entre a República Portuguesa e a República da Índia sobre a Promoção e a Protecção Recíprocas de Investimentos, assinado em Lisboa em 28 de Junho de 2000

Artigo 1.º

Definições

Para efeitos do presente Acordo:

1) O termo «investimentos» compreenderá toda a espécie de bens estabelecidos ou adquiridos, incluindo alterações na forma de realização desses investimentos, de acordo com a legislação da Parte Contratante no território da qual foi realizado o investimento, incluindo em particular, mas não exclusivamente:

a)Propriedade sobre móveis e imóveis, bem como quaisquer outros direitos reais, tais como hipotecas, garantias e penhores;
b)Acções, quotas ou outras partes sociais que representem o capital de sociedades;
c)Direitos de crédito ou quaisquer outros direitos com valor económico;
d)Direitos de propriedade intelectual, de acordo com a legislação da respectiva Parte Contratante;
e)Concessões comerciais conferidas por força de lei, nos termos de contrato ou acto administrativo, emanado por uma autoridade pública competente, incluindo concessões para prospecção, pesquisa e exploração de recursos naturais;
2) O termo «rendimentos» designará os proveitos gerados por investimentos tais como lucros, juros, mais-valias, dividendos, royalties e pagamentos;
3) O termo «investidores» designa:
a)Pessoas singulares, com a nacionalidade de qualquer uma das Partes Contratantes, nos termos da respectiva legislação; e
b)Pessoas colectivas, incluindo empresas, sociedades comerciais ou outras sociedades ou associações que estejam constituídas e funcionem de acordo com a legislação dessa Parte Contratante e estejam efectivamente envolvidas em operações comerciais no território dessa Parte Contratante;
4) O termo «território» designa:
a)Em relação à República Portuguesa: o território da República Portuguesa, tal como se encontra definido na respectiva legislação, sobre o qual a República Portuguesa exerça, de acordo com o direito internacional, soberania, direitos soberanos ou jurisdição;
b)Em relação à República da Índia: o território da República da Índia, incluindo as águas territoriais e o espaço aéreo correspondeste e outras zonas marítimas, incluindo a Zona Económica Exclusiva e a plataforma continental, sobre as quais a República da Índia exerce soberania, direitos soberanos ou exclusiva jurisdição, de acordo com a respectiva legislação em vigor, com a Convenção das Nações Unidas sobre o Direito do Mar, de 1982 e o direito internacional.

Artigo 2.º

Âmbito do Acordo

Este Acordo aplicar-se-á a todos os investimentos, realizados por investidores de qualquer das Partes Contratantes no território da outra Parte Contratante, de acordo com a respectiva legislação, antes e após a entrada em vigor deste Acordo, com excepção dos diferendos relativos a investimentos emergentes antes da respectiva entrada em vigor.

Artigo 3.º

Promoção e protecção dos investimentos

1 -Ambas as Partes Contratantes promoverão e encorajarão, na medida do possível, a realização de investimentos por investidores da outra Parte Contratante no seu território, admitindo tais investimentos de acordo com a respectiva legislação. Ambas as Partes Contratantes concederão aos investimentos tratamento justo e equitativo.
2 -Os investimentos realizados por investidores de qualquer das Partes Contratantes gozarão de plena protecção e segurança no território da outra Parte Contratante.

Artigo 4.º

Tratamento nacional e da nação mais favorecida

1 -Os investimentos realizados por investidores de uma das Partes Contratantes no território da outra Parte Contratante serão objecto de tratamento não menos favorável do que o concedido pela última Parte Contratante aos investimentos dos seus próprios investidores ou aos investimentos de investidores de terceiros Estados.
2 -Ambas as Partes Contratantes concederão ainda aos investidores da outra Parte Contratante, inclusive no que respeita aos rendimentos de investimentos, um tratamento não menos favorável do que o concedido aos investidores de terceiros Estados.
3 -As disposições deste artigo não implicam a concessão de tratamento de preferência ou privilégio por uma das Partes Contratantes a investidores da outra Parte Contratante que possa ser outorgado em virtude de:
1. a)Participação em zonas de comércio livre, uniões aduaneiras, mercados comuns existentes ou a criar e em outros acordos internacionais similares, incluindo outras formas de cooperação económica, a que qualquer das Partes Contratantes tenha aderido ou venha a aderir; e
2. b)Qualquer matéria, no todo ou em parte, de natureza fiscal.

Artigo 5.º

Expropriação

1 -Os investimentos efectuados por investidores de uma das Partes Contratantes no território da outra Parte Contratante não poderão ser expropriados, nacionalizados ou sujeitos a outras medidas com efeitos equivalentes à expropriação ou nacionalização (adiante designadas como «expropriação»), excepto por força da lei, no interesse público, sem carácter discriminatório e mediante pronta indemnização.
2 -A indemnização deverá corresponder ao valor de mercado que os investimentos expropriados tinham à data imediatamente anterior ao momento em que a expropriação seja do conhecimento público. A indemnização deverá ser paga sem demora injustificada, vencerá juros à taxa bancária usual, desde a data da expropriação até à data da sua liquidação e deverá ser efectiva.
3 -O investidor cujos investimentos tenham sido expropriados terá o direito, de acordo com a legislação da Parte Contratante no território da qual os bens tiverem sido expropriados, à revisão do seu caso, em processo judicial ou outro e à avaliação dos seus investimentos, de acordo com os princípios definidos neste artigo.

Artigo 6.º

Compensação por perdas

Os investidores de uma das Partes Contratantes que venham a sofrer perdas nos investimentos realizados no território da outra Parte Contratante, em virtude de guerra ou outros conflitos armados, revolução, estado de emergência nacional, distúrbios de natureza civil ou outros eventos considerados equivalentes pelo direito internacional, receberão dessa Parte Contratante tratamento não menos favorável do que o concedido aos investimentos dos seus próprios investidores ou a investidores de terceiros Estados, consoante o que for mais favorável, no que diz respeito à restituição, indemnização, compensação ou outra forma.

Artigo 7.º

Transferências

1 -Cada Parte Contratante assegurará aos investidores da outra Parte Contratante a livre transferência das importâncias relacionadas com os investimentos, em particular, mas não exclusivamente:
1. a)Do capital e das importâncias adicionais necessárias à manutenção ou ampliação dos investimentos;
2. b)Dos rendimentos definidos no n.º 2 do artigo 1.º deste Acordo;
3. c)O reembolso de quaisquer empréstimos, incluindo os respectivos juros, relacionados com o investimento;
4. d)Do produto resultante da alienação ou da liquidação total ou parcial dos investimentos;
5. e)Das indemnizações ou outros pagamentos previstos nos artigos 5.º e 6.º deste Acordo;
6. f)De quaisquer pagamentos preliminares que possam ter sido efectuados em nome do investidor de acordo com o artigo 8.º do presente Acordo; ou
7. g)Dos salários dos nacionais de uma Parte Contratante que trabalham em conexão com o, investimento, no território da outra Parte Contratante.
2 -As transferências referidas neste artigo serão efectuadas em moeda convertível, sem demora injustificada, à taxa de câmbio aplicável na data de transferência.

Artigo 8.º

Sub-rogação

No caso de uma das Partes Contratantes ou a agência por ela designada ter concedido qualquer indemnização, por riscos não comerciais, a um investimento efectuado por qualquer dos seus investidores no território da outra Parte Contratante e realizar pagamentos a esses investidores, em virtude de acções interpostas no âmbito do presente Acordo, a outra Parte Contratante concorda que a primeira Parte Contratante ou a agência por ela designada ficará por esse facto sub-rogada nos direitos e acções desses investidores. A sub-rogação não poderá exceder os direitos e acções originários desses investidores.

Artigo 9.º

Diferendos entre as Partes Contratantes

1 -Os diferendos que surjam entre as Partes Contratantes sobre a interpretação ou aplicação do presente Acordo serão, na medida do possível, resolvidos através de negociações.
2 -Se as Partes Contratantes não chegarem a acordo no prazo de seis meses após o início das negociações, o diferendo será submetido, a pedido de qualquer das Partes Contratantes, a um tribunal arbitral, nos termos do presente artigo.
3 -O tribunal arbitral será constituído em cada caso; do seguinte modo: cada Parte Contratante designará um membro e ambos os membros proporão um nacional de um terceiro Estado, com o qual ambas as Partes Contratantes mantenham relações diplomáticas, como presidente que será nomeado pelas duas Partes Contratantes. Os membros serão nomeados no prazo de dois meses e o presidente no prazo de três meses a contar da data em que uma das Partes Contratantes tiver comunicado à outra a intenção de submeter o diferendo a um tribunal arbitral.
4 -Se os prazos fixados no n.º 3 do presente artigo não forem observados, qualquer das Partes Contratantes poderá, na falta de outro acordo, solicitar ao Presidente do Tribunal Internacional de Justiça que proceda às necessárias nomeações. Se o Presidente estiver impedido ou for nacional de uma das Partes Contratantes, as nomeações caberão ao Vice-Presidente. Se este também estiver impedido ou for nacional de uma das Partes Contratantes, as nomeações caberão ao membro do Tribunal que se siga na hierarquia, desde que esse membro não seja nacional de qualquer das Partes Contratantes.
5 -O tribunal arbitral decidirá por maioria de votos. As suas decisões serão definitivas e vinculativas para ambas as Partes Contratantes. A cada Parte Contratante caberá suportar as despesas do respectivo árbitro, bem como da respectiva representação no processo perante o tribunal arbitral. Ambas as Partes Contratantes suportarão em partes iguais as despesas do presidente, bem como as demais despesas. O tribunal arbitral poderá, no entanto, adoptar um regulamento diferente quanto à divisão das despesas, decidindo que uma das Partes Contratantes suportará uma proporção superior das despesas. Em todas as outras matérias, o tribunal arbitral definirá as suas próprias regras processuais.

Artigo 10.º

Diferendos entre uma Parte Contratante e um investidor da outra Parte Contratante

1 -Os diferendos emergentes entre um investidor de uma das Partes Contratantes e a outra Parte Contratante relacionados com um investimento do primeiro no território da segunda, nos termos do presente Acordo, devem ser notificados, por escrito, incluindo informação detalhada, pelo investidor à outra Parte Contratante. As partes litigantes deverão, na medida do possível, esforçar-se para resolver os diferendos, de forma amigável, através de negociação ou conciliação.
2 -Se os diferendos não puderem ser resolvidos de forma amigável no prazo de seis meses contados da data da notificação escrita, mencionada no n.º 1, o diferendo poderá ser submetido, à escolha do investidor:
1. a)Às instâncias judiciais, administrativas ou arbitrais competentes da Parte Contratante no território da qual se situa o investimento; ou
2. b)À arbitragem internacional.
3 -Em caso de arbitragem internacional, o diferendo pode ser submetido:
1. a)Ao Centro Internacional para a Resolução de Diferendos relativos a Investimentos, se a Parte Contratante do investidor e a outra Parte Contratante forem ambas partes da Convenção para a Resolução de Diferendos entre Estados e Nacionais de outros Estados, celebrada em Washington, D. C., em 18 de Março de 1965 (CIRDI); ou
2. b)Ao Mecanismo Suplementar previsto para a Administração dos Procedimentos de Conciliação, Arbitragem e Verificação de Factos, sujeito à concordância de ambas as partes litigantes; ou
3. c)A um tribunal arbitral ad hoc, estabelecido de acordo com as regras de arbitragem da Comissão das Nações Unidas para o Direito Comercial Internacional, de 1976, sujeito às seguintes modificações:
  1. i)O tribunal arbitral deverá ser constituído por três árbitros, dois nomeados pelas respectivas Partes Contratantes, no prazo de dois meses, e o terceiro nomeado como presidente do tribunal arbitral pelos dois primeiros. O terceiro árbitro deverá ser nacional de um terceiro Estado com o qual ambas as Partes Contratantes mantenham relações diplomáticas;
  2. ii)No caso de os dois árbitros não nomearem o terceiro árbitro, as partes litigantes poderão solicitar ao Presidente do Tribunal Internacional de Justiça, desde que este não seja nacional de uma das Partes Contratantes, para proceder à nomeação do terceiro árbitro. Se o Presidente estiver impedido ou for nacional de uma das Partes Contratantes, as nomeações caberão ao Vice-Presidente do Tribunal Internacional de Justiça. Se este estiver impedido ou for nacional de uma das Partes Contratantes, as nomeações caberão ao membro do Tribunal Internacional de Justiça que se siga na hierarquia, desde que esse membro não seja nacional de uma das Partes Contratantes.
4 -A arbitragem deverá ser baseada:
1. a)Nas disposições do presente Acordo ou de outros acordos em vigor entre as Partes Contratantes;
2. b)Nas regras e princípios aceites universalmente, do direito internacional;
3. c)Na legislação interna da Parte Contratante no território da qual se situa o investimento, incluindo as regras relativas a conflitos de leis.
5 -A Parte Contratante não poderá invocar para sua defesa que a indemnização ou outra compensação, por todo ou parte do dano sofrido, foi ou será recebida pelo investidor em virtude de uma garantia ou contrato de seguro.
6 -Nenhuma das Partes Contratantes poderá recorrer às vias diplomáticas para resolver qualquer questão relacionada com a arbitragem, salvo se o processo já estiver concluído e a Parte Contratante não tiver acatado nem cumprido a decisão proferida pela arbitragem internacional.
7 -A decisão arbitral será definitiva e vinculativa para ambas as partes. As Partes Contratantes executarão a sentença nos termos da respectiva legislação interna.

Artigo 11.º

Entrada e permanência de pessoal

Para o fim do presente Acordo, a entrada e permanência de pessoas singulares e do pessoal empregado pelos investidores ou em conexão com os seus investimentos, deverá ser feita de acordo com a legislação da Parte Contratante no território da qual foi realizado o investimento.

Artigo 12.º

Leis aplicáveis

1 -Todos os investimentos realizados, no território de uma das Partes Contratantes, ao abrigo do presente Acordo, serão regulados pela legislação vigente nesse território.
2 -Apesar do previsto no n.º 1 do presente artigo, nada neste Acordo impede a Parte Contratante receptora do investimento de tomar medidas para a protecção dos seus interesses essenciais de segurança, ordem pública ou, em circunstâncias de emergência extrema, de acordo com a respectiva legislação, aplicada de forma não discriminatória.

Artigo 13.º

Aplicação de outras regras

Se, para além do presente Acordo, as disposições da lei interna de uma das Partes Contratantes ou as obrigações emergentes do direito internacional em vigor ou que venha a vigorar entre as duas Partes Contratantes estabelecerem um regime, geral ou especial, que confira aos investimentos efectuados por investidores da outra Parte Contratante um tratamento mais favorável do que o previsto no presente Acordo, prevalecerá sobre este o regime mais favorável.

Artigo 14.º

Consultas

Os representantes das Partes Contratantes deverão, sempre que necessário, realizar consultas sobre qualquer matéria relacionada com a aplicação deste Acordo. Estas consultas serão realizadas sob proposta de qualquer das Partes Contratantes, em lugar e data a acordar por via diplomática.

Artigo 15.º

Entrada em vigor e duração

1 -Este Acordo entrará em vigor 30 dias após a data em que ambas as Partes Contratantes tiverem notificado uma à outra, por escrito, do cumprimento dos respectivos procedimentos constitucionais internos, requeridos para o efeito.
2 -Este Acordo permanecerá em vigor por um período de 10 anos e, a partir desta data será considerado como tendo sido automaticamente prorrogado, excepto se qualquer das Partes Contratantes notificar, por escrito, a outra Parte Contratante da sua intenção de denunciar o Acordo. O Acordo chegará ao seu termo um ano após a data de recepção da notificação escrita.
3 -Ocorrendo o termo do presente Acordo, conforme previsto no n.º 2 deste artigo, o Acordo continuará a aplicar-se por mais um período de 15 anos a partir do respectivo termo, relativamente aos investimentos realizados ou adquiridos antes dessa data.
Feito em duplicado, em Lisboa, no dia 28 do mês de Junho do ano de 2000, em língua portuguesa, hindi e inglesa, ambos os textos fazendo igualmente fé. Em caso de divergência de interpretação, prevalecerá a versão inglesa.
Pela República Portuguesa:
(ver assinatura no documento original)
Pela República da Índia:
(ver assinatura no documento original)
PROTOCOLO
Por ocasião da assinatura do Acordo sobre Promoção e Protecção Recíproca de Investimentos entre a República Portuguesa e a República da Índia os plenipotenciários abaixo assinados acordaram ainda na seguintes disposição, que constitui parte integrante do referido Acordo:
Com referência ao artigo 3.º do presente Acordo
As Partes Contratantes consideram que as disposições do artigo 3.º do presente Acordo não prejudicam o direito de qualquer das Partes Contratantes aplicar as disposições pertinentes do seu direito fiscal.
Feito em duplicado, em Lisboa, no dia 28 do mês de Junho do ano de 2000, em língua portuguesa, hindi e inglesa, ambos os textos fazendo igualmente fé. Em caso de divergência de interpretação, prevalecerá a versão inglesa.
Pela República Portuguesa:
(ver assinatura no documento original)
Pela República da Índia:
(ver assinatura no documento original)
(ver texto em língua hindi no documento original)
AGREEMENT BETWEEN THE PORTUGUESE REPUBLIC AND THE REPUBLIC OF INDIA ON THE MUTUAL PROMOTION AND PROTECTION OF INVESTMENTS.
The Portuguese Republic and the Republic of India, hereinafter referred to as the «Contracting Parties»:
Desiring to intensify the economic co-operation between the two States;
Intending to encourage and create favorable conditions for investments made by investors of one Contracting Party in the territory of the other Contracting Party on the basis of equality and mutual benefit;
Recognizing that the mutual promotion and protection of investments on the basis of this Agreement will stimulate business initiative;
have agreed as follows:
Article 1
Definitions
For the purpose of this Agreement:
1) «Investments» means every kind of asset established or acquired, including changes in the form of such investment, in accordance with the national laws of the Contracting Party in whose territory the investment is made and in particular, though not exclusively, includes:
1. a)Movable and immovable property as well as any other rights in rem, such as mortgages, liens and pledges;
2. b)Shares, stocks, debentures, or other forms of interest in the equity of a company;
3. c)Claims to money or to any performance under contract having financial value;
4. d)Intellectual property rights, in accordance with the relevant laws of the respective Contracting Party;
5. e)Business concessions conferred by law, under a contract, or an administrative act of a competent state authority, including concessions for prospecting, research and exploitation o f natural resources;
  2) «Returns» means amounts yielded by investments such as profits, interest, capital, gains, dividends, royalties and fees;
  3) The term «investors» means:
6. a)Natural persons having the nationality of a Contracting Party, in accordance with its laws; and
7. b)Legal persons, including corporations, commercial companies or other companies or associations, incorporated or constituted in accordance, with the laws of a Contracting Party and engaged in substantive business operations in the territory of that Contracting Party;
  4) «Territory» means:
8. a)In respect of the Portuguese Republic: the territory of the Portuguese Republic, as defined by its respective laws, over which the Portuguese Republic exercises, in accordance with international law, sovereignty, sovereign rights or jurisdiction;
9. b)In respect of India: the territory of the Republic of India including its territorial waters and the air space above it and other maritime zones including the Exclusive Economic Zone and continental shelf over, which the Republic of India has sovereignty, sovereign rights or exclusive jurisdiction in accordance with its laws in force, the 1982 United Nations Convention on the Law of the Sea and International Law.
  Article 2
  Scope of the agreement
  This Agreement shall apply to all investments, made by investors of either Contracting Party in the territory of the other Contracting Party accepted as such in accordance with its laws and regulations, whether made before or after the coming into force of this Agreement, but shall not apply to any dispute concerning investments which have arisen before its entry into force.
  Article 3
  Promotion and protection of investments
1 -Each Contracting Party shall promote and encourage, as far as possible, within its territory investments made by investors of the other Contracting Party and admit such investments into its territory in accordance with its laws and regulations. It shall accord such investments fair and equitable treatment.
2 -Investments made by investors of either Contracting Party shall enjoy full protection and security in the territory of the other Contracting Party.
Article 4
National and most favoured nation treatment
1 -Each Contracting Party shall accord to investments of investors of he other Contracting Party in the territory of the first Contracting Party, treatment which shall not be less favourable than that accorded either to investments of its own investors or investments of investors of any third State.
2 -In addition, each Contracting Party shall accord to investors of the other Contracting Party, including in respect of returns on their investments, treatment which shall not be, less favourable than that accorded to investors of any third State.
3 -The provisions of this article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party the benefit of any treatment, preference or privilege resulting from:
1. a)Any existing or future free, trade area, customs union, common market or other similar international agreements including other forms of regional economic cooperation to which either of the Contracting Parties is or may become a Party; and
2. b)Any matter pertaining wholly or mainly to taxation.
  Article 5
  Expropriation
1 -Investments made by investors of either Contracting Party in the territory of the other Contracting Party shall not be expropriated, nationalized or subject to any other measure with effects equivalent to expropriation or nationalization (hereinafter referred to as expropriation) except by virtue of law, for a public purpose, on a non-discriminatory basis and against prompt compensation.
2 -Such compensation shall amount to the market value of the expropriated investments immediately before the expropriation became publicly known. The compensation shall be paid without undue delay, shall include interest at normal market rate from the date of expropriation until the date of payment and shall be effectively realisable.
3 -The investor whose investments are expropriated, shall have the right under the law of expropriating Contracting Party to prompt review by a judicial or other competent authority of that Contracting Party of his or its case and of valuation of his or its investments in accordance with the principles set out in this article.
Article 6
Compensation for losses
Investors of one Contracting Party whose investments suffer losses in the territory of the other Contracting Party, owing to war or armed conflict, revolution, a state of national emergency, civil disturbances or other similar events considered as such by international law, shall be accorded treatment no less favourable by the latter Contracting Party than that Contracting Party accords to the investments of its own investors, or to investors of any third State, whichever is more favourable, as regards restitution, indemnification, compensation or other settlement.
Article 7
Transfers
1 -Each Contracting Party shall assure to the investors of the other Contracting Party the free transfer of all funds related to their investments, in particular, though not exclusively:
1. a)Capital and additional amounts necessary to maintain or increase the investments;
2. b)The returns defined in paragraph 2, article 1, of this Agreement;
3. c)Repayments of any loan including interest thereon, relating to the investment;
4. d)They proceeds obtained from the sale or from the total or partial liquidation of the investment;
5. e)Any compensation or other payment referred to in articles 5 and 6 of this Agreement;
6. f)Any preliminary payments that may be made in the name of the investor in accordance with article 8 of this Agreement; or
7. g)Earnings of nationals of one Contracting Party who work in, connection with investment in the territory of the other Contracting Party.
2 -The transfers referred to in this article shall be made in convertible currency without undue delay at the exchange rate applicable on the date of the transfer.
Article 8
Sub-rogation
Where one Contracting Party or its designated agency has granted any indemnity against non commercial risks in respect of an investment by any of its investors in the territory of the other Contracting Party and has made any payments to such investors in respect of their claims under this agreement, the other Contracting Party agrees that the first Contracting Party or its designated agency is entitled by virtue of sub-rogation to exercise the rights and assert the claims of those investors. The sub-rogated rights or claims shall nor exceed the original rights or claims of such investors.
Article 9
Disputes between the Contracting Parties
1 -Disputes between the Contracting Parties concerning the interpretation and application of this Agreement should, as far as possible, be settled through negotiations.
2 -If the Contracting Parties fail to reach such settlement within six months after the beginning of negotiations, the dispute shall, upon the request of either Contracting Party, be submitted to an arbitral tribunal, in accordance with the provisions of this article.
3 -The Arbitral Tribunal shall be constituted in each individual case as follows: each of the Contracting Parties shall appoint one member and these two members shall propose a national of a third State, with which both Contracting Parties maintain diplomatic relations, as chairman to be appointed by the two Contracting Parties. The members shall be appointed within two months and the chairman shall be appointed within three months from the date on which either Contracting Party notifies, the other that it wishes to submit the dispute to an arbitral tribunal.
4 -If the deadlines specified in paragraph 3 of this article are not complied with, either Contracting Party may, in the absence of any other agreement, invite the President of the International Court of Justice to make the necessary appointments. If the President is prevented from doing so, or is a national of either Contracting Party, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is also a national of either Contracting Party or if he is prevented from making the appointments for any other reason, the appointments shall be made by the member of the Court who is next in seniority and who is not a national of either Contracting Party.
5 -The Arbitral Tribunal shall rule according to majority vote. The decisions of the tribunal shall be final and binding on both Contracting Parties. Each Contracting Party shall be responsible for the costs of its own member and of its representatives at the arbitral proceedings. Both Contracting Parties shall assume an equal share of the expenses incurred on the chairman, as well as any other expenses. The tribunal may however in its decision direct that a higher proportion of cost shall be borne by one of the two Contracting Parties. In all other respects, the tribunal court shall define its own rules of procedure.
Article 10
Disputes between a Contracting Party and an investor of the other Contracting Party
1 -Disputes that may arise between a Contracting Party and an investor of the other Contracting Party with regard to an investment under the present Agreement, shall be notified in writing including detailed information, by the investor to host Contracting Party of the investment. As far as possible, the Parties concerned shall endeavour to settle these differences amicably, through negotiations or conciliation.
2 -If these disputes cannot be settled amicably within six months from the date of the written notification mentioned in paragraph 1, the dispute may be submitted, at the choice of the investor, to:
1. a)The competent judicial, administrative or arbitral bodies of the Contracting Party in whose territory the investment was made; or
2. b)To international arbitration.
3 -In the case of international arbitration, the dispute maybe submitted as follows:
1. a)To the International Center for the settlement of Investment Disputes, if the Contracting Party of the investor and the other Contracting Party are both parties to the Convention on the Settlement of Investment Disputes between States and nationals of other States, opened for signature at Washington D. C. on 18th March 1965 (ICSID Convention); or
2. b)To the Additional Facility for the Administration of Conciliation, Arbitration and Fact-Finding Proceedings if both parties to the dispute so agree; or
3. c)To an ad hoc arbitral tribunal in accordance with the arbitration rules of the United Nations Commission on International Trade Law, 1976, subject to the following modifications:
  1. i)The arbitral tribunal shall consist of three arbitrators, one arbitrator each to be, appointed by the respective parties within two months and the third arbitrator to be elected by the above two arbitrators, who shall act as chairman of the tribunal. The third arbitrator shall be a national of a third State with which both Contracting Parties maintain diplomatic relations;
  2. ii)Should the two arbitrators fail to elect the third arbitrator, the parties to the dispute shall invite the President of the International Court of Justice if he is not a national of either of the Contracting Parties to the dispute, to appoint the third arbitrator. In case the President is a national of the two Contracting Parties or is otherwise prevented or unable to discharge this functions, the parties to dispute shall invite the Vice-President of the International Court of Justice for making the necessary appointment. If the Vice-President is also a national of either of the Contracting Parties or is prevented or unable to discharge his duties, the parties shall approach the next senior judge of this International Court of Justice, who is not a national of either Contracting Parties, for making the necessary, appointment.
4 -The arbitration shall be based on:
1. a)The provisions of this agreement and of other agreements in force between the Contracting Parties;
2. b)The rules and the universally accepted principles of International Law;
3. c)The national law of the Contracting Party in whose territory the investment was made, including the rules relative to conflict of laws.
5 -A Contracting Party shall not assert as a defence that indemnification or other compensation for all or part of the alleged damage has been received or will be received by the investor pursuant to a guarantee or insurance contract.
6 -Neither Contracting Party shall pursue through diplomatic channels any matter referred to arbitration until the proceedings have terminated and a Contracting Party has failed to abide by or to comply with the award rendered by the international arbitration.
7 -The arbitral decisions shall be final and binding on the parties to the dispute. Each Contracting Party undertakes to execute the decisions in accordance with its national law.
Article 11
Entry and sojourn of personnel
For the purpose of the present Agreement, the entry and sojourn of natural persons and personnel employed by investors or in connection with investments shall be made in accordance with the laws and regulations of the Contracting Party in which territory the investment is made.
Article 12
Applicable laws
1 -All investments shall, subject to this Agreement, be governed by the laws in force in the territory of the Contracting Party in which such investments are made.
2 -Notwithstanding paragraph 1 of this article nothing in this Agreement precludes the host Contracting Party from taking action for the protection of its essential security interests, public order or in circumstances of extreme emergency in accordance with its laws applied in a non discriminatory basis.
Article 13
Application of other rules
If the provisions of law of either Contracting Party or obligations under international law existing at present or established hereafter between the Contracting Parties in addition to this Agreement contain rules, whether, general or specific, entitling investments made by investors of the other Contracting Party to a treatment more favourable than is provided for by this Agreement, such rules shall, to the extent that they are more favourable, prevail over this Agreement.
Article 14
Consultations
Representatives of the Contracting Parties shall, whenever necessary, hold consultations on any matter affecting the implementation of this Agreement. These consultations shall be held on the proposal of one of the Contracting Parties at a place and a time to be agreed upon through diplomatic channels.
Article 15
Entry into force and duration
1 -This Agreement shall enter into force 30 days after the Contracting Parties notify each other in writing that their respective internal constitutional procedures have been fulfilled.
2 -This Agreement shall remain in force for a period of 10 years and thereafter it shall be deemed to have been automatically extended unless either Contracting Party gives to the other Contracting Party a written notice of its intention to terminate the Agreement. The Agreement shall stand terminated one year from the date on receipt of such written notice.
3 -Notwithstanding termination of this Agreement pursuant to paragraph 2 of this aticle, the Agreement shall continue to be effective for a further period of 15 years from the date of its termination in respect of investments made or acquired before the date of termination of this Agreement.
Done in duplicate in Lisbon at this 28 day of June 2000 in the Portuguese, Hindi and English languages, all texts being equally authentic.
In case of any divergence the English text shall prevail.
For the Portuguese Republic:
(ver assinatura no documento original)
For the Republic of India:
(ver assinatura no documento original)
PROTOCOL
On the occasion of the signing of the Agreement between the Portuguese Republic and the Republic of India on the Mutual Promotion and Protection of the Investments, the undersigned duly authorised to this effect, have agreed also on the following provisions, which constitute an integral part of the said Agreement:
With reference to article 3 of this Agreement
The Contracting Parties consider that provisions of article 3 of the Agreement shall be without prejudice to the right of either Contracting Party to apply their tax laws.
Done in duplicate in Lisbon at this 28 day of June 2000 in the Portuguese, Hindi and English languages, all texts being equally authentic.
In case of any divergence the English text shall prevail.
For the Portuguese Republic:
(ver assinatura no documento original)
For the Republic of India:
(ver assinatura no documento original)

Artigo 15.º

Entrada em vigor e duração

1 -Este Acordo entrará em vigor 30 dias após a data em que ambas as Partes Contratantes tiverem notificado uma à outra, por escrito, do cumprimento dos respectivos procedimentos constitucionais internos, requeridos para o efeito.
2 -Este Acordo permanecerá em vigor por um período de 10 anos e, a partir desta data será considerado como tendo sido automaticamente prorrogado, excepto se qualquer das Partes Contratantes notificar, por escrito, a outra Parte Contratante da sua intenção de denunciar o Acordo. O Acordo chegará ao seu termo um ano após a data de recepção da notificação escrita.
3 -Ocorrendo o termo do presente Acordo, conforme previsto no n.º 2 deste artigo, o Acordo continuará a aplicar-se por mais um período de 15 anos a partir do respectivo termo, relativamente aos investimentos realizados ou adquiridos antes dessa data.
Feito em duplicado, em Lisboa, no dia 28 do mês de Junho do ano de 2000, em língua portuguesa, hindi e inglesa, ambos os textos fazendo igualmente fé. Em caso de divergência de interpretação, prevalecerá a versão inglesa.
Pela República Portuguesa:
(ver assinatura no documento original)
Pela República da Índia:
(ver assinatura no documento original)
PROTOCOLO
Por ocasião da assinatura do Acordo sobre Promoção e Protecção Recíproca de Investimentos entre a República Portuguesa e a República da Índia os plenipotenciários abaixo assinados acordaram ainda na seguintes disposição, que constitui parte integrante do referido Acordo:
Com referência ao artigo 3.º do presente Acordo
As Partes Contratantes consideram que as disposições do artigo 3.º do presente Acordo não prejudicam o direito de qualquer das Partes Contratantes aplicar as disposições pertinentes do seu direito fiscal.
Feito em duplicado, em Lisboa, no dia 28 do mês de Junho do ano de 2000, em língua portuguesa, hindi e inglesa, ambos os textos fazendo igualmente fé. Em caso de divergência de interpretação, prevalecerá a versão inglesa.
Pela República Portuguesa:
(ver assinatura no documento original)
Pela República da Índia:
(ver assinatura no documento original)
(ver texto em língua hindi no documento original)
AGREEMENT BETWEEN THE PORTUGUESE REPUBLIC AND THE REPUBLIC OF INDIA ON THE MUTUAL PROMOTION AND PROTECTION OF INVESTMENTS.
The Portuguese Republic and the Republic of India, hereinafter referred to as the «Contracting Parties»:
Desiring to intensify the economic co-operation between the two States;
Intending to encourage and create favorable conditions for investments made by investors of one Contracting Party in the territory of the other Contracting Party on the basis of equality and mutual benefit;
Recognizing that the mutual promotion and protection of investments on the basis of this Agreement will stimulate business initiative;
have agreed as follows:
Article 1
Definitions
For the purpose of this Agreement:
1) «Investments» means every kind of asset established or acquired, including changes in the form of such investment, in accordance with the national laws of the Contracting Party in whose territory the investment is made and in particular, though not exclusively, includes:
1. a)Movable and immovable property as well as any other rights in rem, such as mortgages, liens and pledges;
2. b)Shares, stocks, debentures, or other forms of interest in the equity of a company;
3. c)Claims to money or to any performance under contract having financial value;
4. d)Intellectual property rights, in accordance with the relevant laws of the respective Contracting Party;
5. e)Business concessions conferred by law, under a contract, or an administrative act of a competent state authority, including concessions for prospecting, research and exploitation o f natural resources;
  2) «Returns» means amounts yielded by investments such as profits, interest, capital, gains, dividends, royalties and fees;
  3) The term «investors» means:
6. a)Natural persons having the nationality of a Contracting Party, in accordance with its laws; and
7. b)Legal persons, including corporations, commercial companies or other companies or associations, incorporated or constituted in accordance, with the laws of a Contracting Party and engaged in substantive business operations in the territory of that Contracting Party;
  4) «Territory» means:
8. a)In respect of the Portuguese Republic: the territory of the Portuguese Republic, as defined by its respective laws, over which the Portuguese Republic exercises, in accordance with international law, sovereignty, sovereign rights or jurisdiction;
9. b)In respect of India: the territory of the Republic of India including its territorial waters and the air space above it and other maritime zones including the Exclusive Economic Zone and continental shelf over, which the Republic of India has sovereignty, sovereign rights or exclusive jurisdiction in accordance with its laws in force, the 1982 United Nations Convention on the Law of the Sea and International Law.
  Article 2
  Scope of the agreement
  This Agreement shall apply to all investments, made by investors of either Contracting Party in the territory of the other Contracting Party accepted as such in accordance with its laws and regulations, whether made before or after the coming into force of this Agreement, but shall not apply to any dispute concerning investments which have arisen before its entry into force.
  Article 3
  Promotion and protection of investments
1 -Each Contracting Party shall promote and encourage, as far as possible, within its territory investments made by investors of the other Contracting Party and admit such investments into its territory in accordance with its laws and regulations. It shall accord such investments fair and equitable treatment.
2 -Investments made by investors of either Contracting Party shall enjoy full protection and security in the territory of the other Contracting Party.
Article 4
National and most favoured nation treatment
1 -Each Contracting Party shall accord to investments of investors of he other Contracting Party in the territory of the first Contracting Party, treatment which shall not be less favourable than that accorded either to investments of its own investors or investments of investors of any third State.
2 -In addition, each Contracting Party shall accord to investors of the other Contracting Party, including in respect of returns on their investments, treatment which shall not be, less favourable than that accorded to investors of any third State.
3 -The provisions of this article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party the benefit of any treatment, preference or privilege resulting from:
1. a)Any existing or future free, trade area, customs union, common market or other similar international agreements including other forms of regional economic cooperation to which either of the Contracting Parties is or may become a Party; and
2. b)Any matter pertaining wholly or mainly to taxation.
  Article 5
  Expropriation
1 -Investments made by investors of either Contracting Party in the territory of the other Contracting Party shall not be expropriated, nationalized or subject to any other measure with effects equivalent to expropriation or nationalization (hereinafter referred to as expropriation) except by virtue of law, for a public purpose, on a non-discriminatory basis and against prompt compensation.
2 -Such compensation shall amount to the market value of the expropriated investments immediately before the expropriation became publicly known. The compensation shall be paid without undue delay, shall include interest at normal market rate from the date of expropriation until the date of payment and shall be effectively realisable.
3 -The investor whose investments are expropriated, shall have the right under the law of expropriating Contracting Party to prompt review by a judicial or other competent authority of that Contracting Party of his or its case and of valuation of his or its investments in accordance with the principles set out in this article.
Article 6
Compensation for losses
Investors of one Contracting Party whose investments suffer losses in the territory of the other Contracting Party, owing to war or armed conflict, revolution, a state of national emergency, civil disturbances or other similar events considered as such by international law, shall be accorded treatment no less favourable by the latter Contracting Party than that Contracting Party accords to the investments of its own investors, or to investors of any third State, whichever is more favourable, as regards restitution, indemnification, compensation or other settlement.
Article 7
Transfers
1 -Each Contracting Party shall assure to the investors of the other Contracting Party the free transfer of all funds related to their investments, in particular, though not exclusively:
1. a)Capital and additional amounts necessary to maintain or increase the investments;
2. b)The returns defined in paragraph 2, article 1, of this Agreement;
3. c)Repayments of any loan including interest thereon, relating to the investment;
4. d)They proceeds obtained from the sale or from the total or partial liquidation of the investment;
5. e)Any compensation or other payment referred to in articles 5 and 6 of this Agreement;
6. f)Any preliminary payments that may be made in the name of the investor in accordance with article 8 of this Agreement; or
7. g)Earnings of nationals of one Contracting Party who work in, connection with investment in the territory of the other Contracting Party.
2 -The transfers referred to in this article shall be made in convertible currency without undue delay at the exchange rate applicable on the date of the transfer.
Article 8
Sub-rogation
Where one Contracting Party or its designated agency has granted any indemnity against non commercial risks in respect of an investment by any of its investors in the territory of the other Contracting Party and has made any payments to such investors in respect of their claims under this agreement, the other Contracting Party agrees that the first Contracting Party or its designated agency is entitled by virtue of sub-rogation to exercise the rights and assert the claims of those investors. The sub-rogated rights or claims shall nor exceed the original rights or claims of such investors.
Article 9
Disputes between the Contracting Parties
1 -Disputes between the Contracting Parties concerning the interpretation and application of this Agreement should, as far as possible, be settled through negotiations.
2 -If the Contracting Parties fail to reach such settlement within six months after the beginning of negotiations, the dispute shall, upon the request of either Contracting Party, be submitted to an arbitral tribunal, in accordance with the provisions of this article.
3 -The Arbitral Tribunal shall be constituted in each individual case as follows: each of the Contracting Parties shall appoint one member and these two members shall propose a national of a third State, with which both Contracting Parties maintain diplomatic relations, as chairman to be appointed by the two Contracting Parties. The members shall be appointed within two months and the chairman shall be appointed within three months from the date on which either Contracting Party notifies, the other that it wishes to submit the dispute to an arbitral tribunal.
4 -If the deadlines specified in paragraph 3 of this article are not complied with, either Contracting Party may, in the absence of any other agreement, invite the President of the International Court of Justice to make the necessary appointments. If the President is prevented from doing so, or is a national of either Contracting Party, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is also a national of either Contracting Party or if he is prevented from making the appointments for any other reason, the appointments shall be made by the member of the Court who is next in seniority and who is not a national of either Contracting Party.
5 -The Arbitral Tribunal shall rule according to majority vote. The decisions of the tribunal shall be final and binding on both Contracting Parties. Each Contracting Party shall be responsible for the costs of its own member and of its representatives at the arbitral proceedings. Both Contracting Parties shall assume an equal share of the expenses incurred on the chairman, as well as any other expenses. The tribunal may however in its decision direct that a higher proportion of cost shall be borne by one of the two Contracting Parties. In all other respects, the tribunal court shall define its own rules of procedure.
Article 10
Disputes between a Contracting Party and an investor of the other Contracting Party
1 -Disputes that may arise between a Contracting Party and an investor of the other Contracting Party with regard to an investment under the present Agreement, shall be notified in writing including detailed information, by the investor to host Contracting Party of the investment. As far as possible, the Parties concerned shall endeavour to settle these differences amicably, through negotiations or conciliation.
2 -If these disputes cannot be settled amicably within six months from the date of the written notification mentioned in paragraph 1, the dispute may be submitted, at the choice of the investor, to:
1. a)The competent judicial, administrative or arbitral bodies of the Contracting Party in whose territory the investment was made; or
2. b)To international arbitration.
3 -In the case of international arbitration, the dispute maybe submitted as follows:
1. a)To the International Center for the settlement of Investment Disputes, if the Contracting Party of the investor and the other Contracting Party are both parties to the Convention on the Settlement of Investment Disputes between States and nationals of other States, opened for signature at Washington D. C. on 18th March 1965 (ICSID Convention); or
2. b)To the Additional Facility for the Administration of Conciliation, Arbitration and Fact-Finding Proceedings if both parties to the dispute so agree; or
3. c)To an ad hoc arbitral tribunal in accordance with the arbitration rules of the United Nations Commission on International Trade Law, 1976, subject to the following modifications:
  1. i)The arbitral tribunal shall consist of three arbitrators, one arbitrator each to be, appointed by the respective parties within two months and the third arbitrator to be elected by the above two arbitrators, who shall act as chairman of the tribunal. The third arbitrator shall be a national of a third State with which both Contracting Parties maintain diplomatic relations;
  2. ii)Should the two arbitrators fail to elect the third arbitrator, the parties to the dispute shall invite the President of the International Court of Justice if he is not a national of either of the Contracting Parties to the dispute, to appoint the third arbitrator. In case the President is a national of the two Contracting Parties or is otherwise prevented or unable to discharge this functions, the parties to dispute shall invite the Vice-President of the International Court of Justice for making the necessary appointment. If the Vice-President is also a national of either of the Contracting Parties or is prevented or unable to discharge his duties, the parties shall approach the next senior judge of this International Court of Justice, who is not a national of either Contracting Parties, for making the necessary, appointment.
4 -The arbitration shall be based on:
1. a)The provisions of this agreement and of other agreements in force between the Contracting Parties;
2. b)The rules and the universally accepted principles of International Law;
3. c)The national law of the Contracting Party in whose territory the investment was made, including the rules relative to conflict of laws.
5 -A Contracting Party shall not assert as a defence that indemnification or other compensation for all or part of the alleged damage has been received or will be received by the investor pursuant to a guarantee or insurance contract.
6 -Neither Contracting Party shall pursue through diplomatic channels any matter referred to arbitration until the proceedings have terminated and a Contracting Party has failed to abide by or to comply with the award rendered by the international arbitration.
7 -The arbitral decisions shall be final and binding on the parties to the dispute. Each Contracting Party undertakes to execute the decisions in accordance with its national law.
Article 11
Entry and sojourn of personnel
For the purpose of the present Agreement, the entry and sojourn of natural persons and personnel employed by investors or in connection with investments shall be made in accordance with the laws and regulations of the Contracting Party in which territory the investment is made.
Article 12
Applicable laws
1 -All investments shall, subject to this Agreement, be governed by the laws in force in the territory of the Contracting Party in which such investments are made.
2 -Notwithstanding paragraph 1 of this article nothing in this Agreement precludes the host Contracting Party from taking action for the protection of its essential security interests, public order or in circumstances of extreme emergency in accordance with its laws applied in a non discriminatory basis.
Article 13
Application of other rules
If the provisions of law of either Contracting Party or obligations under international law existing at present or established hereafter between the Contracting Parties in addition to this Agreement contain rules, whether, general or specific, entitling investments made by investors of the other Contracting Party to a treatment more favourable than is provided for by this Agreement, such rules shall, to the extent that they are more favourable, prevail over this Agreement.
Article 14
Consultations
Representatives of the Contracting Parties shall, whenever necessary, hold consultations on any matter affecting the implementation of this Agreement. These consultations shall be held on the proposal of one of the Contracting Parties at a place and a time to be agreed upon through diplomatic channels.
Article 15
Entry into force and duration
1 -This Agreement shall enter into force 30 days after the Contracting Parties notify each other in writing that their respective internal constitutional procedures have been fulfilled.
2 -This Agreement shall remain in force for a period of 10 years and thereafter it shall be deemed to have been automatically extended unless either Contracting Party gives to the other Contracting Party a written notice of its intention to terminate the Agreement. The Agreement shall stand terminated one year from the date on receipt of such written notice.
3 -Notwithstanding termination of this Agreement pursuant to paragraph 2 of this aticle, the Agreement shall continue to be effective for a further period of 15 years from the date of its termination in respect of investments made or acquired before the date of termination of this Agreement.
Done in duplicate in Lisbon at this 28 day of June 2000 in the Portuguese, Hindi and English languages, all texts being equally authentic.
In case of any divergence the English text shall prevail.
For the Portuguese Republic:
(ver assinatura no documento original)
For the Republic of India:
(ver assinatura no documento original)
PROTOCOL
On the occasion of the signing of the Agreement between the Portuguese Republic and the Republic of India on the Mutual Promotion and Protection of the Investments, the undersigned duly authorised to this effect, have agreed also on the following provisions, which constitute an integral part of the said Agreement:
With reference to article 3 of this Agreement
The Contracting Parties consider that provisions of article 3 of the Agreement shall be without prejudice to the right of either Contracting Party to apply their tax laws.
Done in duplicate in Lisbon at this 28 day of June 2000 in the Portuguese, Hindi and English languages, all texts being equally authentic.
In case of any divergence the English text shall prevail.
For the Portuguese Republic:
(ver assinatura no documento original)
For the Republic of India:
(ver assinatura no documento original)