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Andean Commission: Codified Text of the Andean Foreign Investment Code*

Published online by Cambridge University Press:  20 March 2017

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Abstract

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Type
Legislation and Regulations
Information
International Legal Materials , Volume 16 , Issue 1 , January 1977 , pp. 138 - 158
Copyright
Copyright © American Society of International Law 1977

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Footnotes

*

Reproduced from an English translation provided to International] Legal Materials by the U.S. Department of State. This text supersedes the texts which appeared at 10 I.L.M. 152 (1971) and 10 I.L.M. 1065 (1971). The modifications caused by Decisions 70, 103, and 109 were translated and provided by John R. Pate. Decision 70 of February 13, 1973, appears at 12 I.L.M. 349.

[The text which follows incorporates all amendments to the Code as ofNovember 30, 1976. It should be noted that certain articles have not yet been numbered by the Commission. These appear at I.L.M. page 155.]

References

* [Translater's note: these provisions are almost identical to those of Article 3 (as modified by Article 35 of Decision 70) and Article 5 of Decision 46 on Andean multinational enterprises.]

** [Decision 110 of November 30, 1976, addresses the need to define the treatment to be accorded the investment of a mixed enterprise. It states:

“Article 1. The Commission, upon the proposal of the Junta, shall decide at its XXII Period of Ordinary Decisions the treatment to be accorded to the investments of a mixed enterprise.

“Article 2. The Junta shall present its proposal no later than February 14, 1977.

“Article 3. Until then, for the purpose of classifying the resulting enterprise, the investments of a mixed enterprise shall be calculated in the same national and foreign proportion as the national and foreign contributions made to the capital of the mixed enterprise; in the cases of Bolivia and Ecuador, the classification of such investments shall be governed by that which is established by the national competent entities.”]

* [Note: Added by Article 33 of Decision 70. Decision 70 appears at 12 I.L.M. 349.]

* [Note: Paragraphs 2 and 3 were added by Article 34 of Decision 70. By Decision 103 the percentage was raised from 5% to 7%.]

* [This paragraph as well as Article 2(2) of Decision 46 were deleted by Article 4 of Decision 109. With the addition of subregional investors these paragraphs became superfluous.]

* [Note: The articles on this and the following page were added to Decision 24 by Decision 103. The first two were in turn modified by Decision 109. In accordance with the new Transitory Article B, these are to be numbered and incorporated into the text of Decision 24 when it is codified by the Commission.]

* [See note at bottom of previous page.]

** [Decision 102 addresses the question of Chile's rights and obligations deriving from the Cartagena Agreement.]