Multilateral Agreement on Investment
Draft, Distributed January 13, 1997

Cancels and replaces the same document:
sent on OLIS 08-Jan-1997

TABLE OF CONTENTS

Note by the Secretariat

PART ONE: CONSOLIDATED TEXTS I. GENERAL PROVISIONS

II. SCOPE AND APPLICATION

Definitions
Geographical Scope of Application
Application to Overseas Territories

III. TREATMENT OF INVESTORS AND INVESTMENTS

National Treatment and Most Favoured Nation Treatment
Prudential Measures
Transparency
Special Topics

Key Personnel
Performance Requirements
Privatisation
Monopolies/State Enterprises
Investment Incentives
Corporate Practices and Senior Management and Board of Directors

IV. INVESTMENT PROTECTION

General Treatment
Expropriation and Compensation
Protection from Strife
Transfers
Subrogation
Protecting Existing Investments
Protecting Investor Rights from Other Agreements

V. DISPUTE SETTLEMENT

State-State Procedures
Investor-State Procedures

VI. EXCEPTIONS

General Exceptions

VII. RELATIONSHIP TO OTHER INTERNATIONAL AGREEMENTS

Non-Derogation

VIII. IMPLEMENTATION AND OPERATION

The Preparatory Group
The Parties Group

IX. FINAL PROVISIONS

Signature
Ratification and Entry Into Force
Accession
Non-Applicability
Review and Amendment
Withdrawal
Authentic Texts
Denial of Benefits

X. OTHER PROVISIONS

Taxation

Annex: Definition of Taxes

Financial Services

Annex: Definition of Financial Services

Appendix: NAFTA Articles 1117, 1121, 1126, 1135

PART TWO: CONSOLIDATED COMMENTARY

II. SCOPE AND APPLICATION

Definitions
Geographical Scope of Application

III. TREATMENT OF INVESTORS AND INVESTMENTS

National Treatment and Most Favoured Nation Treatment
Prudential Measures
Transparency
Special Topics

Key Personnel
Privatisation
Investment Incentives
Monopolies/State Enterprises
Corporate Practices and Senior Management and Board of Directors

IV. INVESTMENT PROTECTION

General Treatment
Expropriation and Compensation
Transfers
Subrogation
Protecting Existing Investments
Protecting Investor Rights from Other Agreements

V. DISPUTE SETTLEMENT

Dispute Settlement Issues arising from the relationship between the MAI and other agreements

VI. EXCEPTIONS

General Exceptions

VIII. IMPLEMENTATION AND OPERATION

Standstill and the listing of country specific reservations
Rollback

X. OTHER PROVISIONS

Financial Services

Attachment 1 : Clause for Regional Economic Integration Organizations

Attachment 2 : Draft Article on Secondary Investment Boycotts

Attachment 3 : Draft Article on Conflicting Requirements

Draft Article on Conflicting Requirements