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1 - Expropriation

Published online by Cambridge University Press:  13 July 2020

August Reinisch  and
Christoph Schreuer
August Reinisch
Affiliation:
University of Vienna
Christoph Schreuer
Affiliation:
Zeiler Partners, Vienna
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Summary

Neither Contracting Party shall take any measures depriving, directly or indirectly, investors of the other Contracting Party of their investments unless the following conditions are complied with: (a) the measures are taken in the public interest and under due process of law; (b) the measures are not discriminatory or contrary to any undertaking which the former Contracting Party may have given; (c) the measures are accompanied by provision for the payment of just compensation. Such compensation shall represent the real value of the investments affected and shall, in order to be effective for the claimants, be paid and made transferable, without undue delay, to the country designated by the claimants concerned in any freely convertible currency accepted by the claimants.

Keywords

expropriationpublic interestnon-discriminationdue processcompensationindirectcreepingde facto expropriationpolice powers
Type
Chapter
Information
International Protection of Investments
The Substantive Standards
 , pp. 1 - 250
Publisher: Cambridge University Press
Print publication year: 2020

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