Page 359 - Regional Comprehensive Economic Partnership (RCEP)

3. Notwithstanding subparagraph 1(c)(ii), for five years after the date
of entry into force of this Agreement, Article 10.3 (National (d) payments made under a contract, including a loan
Treatment), Article 10.4 (Most-Favoured-Nation Treatment), agreement;
Article 10.6 (Prohibition of Performance Requirements), and
Article 10.7 (Senior Management and Board of Directors) shall not (e) payments made pursuant to Article 10.11 (Compensation
apply to an amendment to any non-conforming measure referred for Losses) and Article 10.13 (Expropriation);
to in subparagraph 1(a) to the extent that the amendment does
not decrease the conformity of the measure as it existed at the (f) payments arising out of the settlement of a dispute by any
date of entry into force of this Agreement with Article 10.3 means including adjudication, arbitration, or the agreement
(National Treatment), Article 10.4 (Most-Favoured-Nation of the parties to the dispute; and
Treatment), Article 10.6 (Prohibition of Performance
Requirements), and Article 10.7 (Senior Management and Board (g) earnings and other remuneration of personnel engaged
of Directors). from abroad in connection with the covered investment.

4. No Party shall, under any measure adopted after the date of entry 2. Each Party shall allow such transfers relating to a covered
into force of this Agreement and covered by List B of its Schedule investment to be made in any freely usable currency at the market
in Annex III (Schedules of Reservations and Non-Conforming rate of exchange prevailing at the time of transfer.
Measures for Services and Investment), require an investor of
another Party, by reason of its nationality, to sell or otherwise 3. Notwithstanding paragraphs 1 and 2, a Party may prevent or
dispose of an investment that exists at the time the measure delay a transfer through the equitable, non-discriminatory, and
becomes effective, unless otherwise specified in the initial good faith application of its laws and regulations relating to:
approval by the relevant authorities.
(a) bankruptcy, insolvency, or the protection of the rights of
5. Article 10.3 (National Treatment) and Article 10.4 (Most- creditors including employees;
Favoured-Nation Treatment) shall not apply to any measure that
falls within Article 5 of the TRIPS Agreement, and any measure (b) issuing, trading, or dealing in securities, futures, options, or
that is covered by an exception to, or derogation from, the derivatives;
obligations imposed by Article 11.7 (National Treatment), or
imposed by Article 3 or 4 of the TRIPS Agreement. (c) criminal or penal offences and the recovery of the proceeds
of crime;

Article 10.9: Transfers (d) financial reporting or record keeping of transfers when
necessary to assist law enforcement or financial regulatory
1. Each Party shall allow all transfers relating to a covered authorities;
investment to be made freely and without delay into and out of its
territory. Such transfers include: (e) ensuring compliance with awards or orders or judgments
in judicial or administrative proceedings;
(a) contributions to capital, including the initial contribution;
24
(f) taxation;
(b) profits, capital gains, dividends, interest, royalty payments,
technical assistance and technical and management fees,
licence fees, and other current income accruing from the
covered investment;
24 For greater certainty, this also includes the adoption or enforcement of any taxation
measure aimed at ensuring the equitable or effective imposition or collection of taxes
(c) proceeds from the sale or liquidation of all or any part of including any taxation measure that differentiates between persons based on their
the covered investment; place of residence or incorporation.

10-12 10-13