BWBV0002598
Geldig vanaf 12-04-1988
Artikel 18
Overeenkomst tot oprichting van het Multilaterale Agentschap voor Investeringsgaranties
(a). Upon paying or agreeing to pay compensation to a holder of a guarantee, the Agency shall be subrogated to such rights or claims related to the guaranteed investment as the holder of a guarantee may have had against the host country and other obligors. The contract of guarantee shall provide the terms and conditions of such subrogation.
(b). The rights of the Agency pursuant to Section (a) above shall be recognized by all members.
(c). Amounts in the currency of the host country acquired by the Agency as subrogee pursuant to Section (a) above shall be accorded, with respect to use and conversion, treatment by the host country as favorable as the treatment to which such funds would be entitled in the hands of the holder of the guarantee. In any case, such amounts may be used by the Agency for the payment of its administrative expenditures and other costs. The Agency shall also seek to enter into arrangements with host countries on other uses of such currencies to the extent that they are not freely usable.
(b). The rights of the Agency pursuant to Section (a) above shall be recognized by all members.
(c). Amounts in the currency of the host country acquired by the Agency as subrogee pursuant to Section (a) above shall be accorded, with respect to use and conversion, treatment by the host country as favorable as the treatment to which such funds would be entitled in the hands of the holder of the guarantee. In any case, such amounts may be used by the Agency for the payment of its administrative expenditures and other costs. The Agency shall also seek to enter into arrangements with host countries on other uses of such currencies to the extent that they are not freely usable.
- Citeren als
- Art. 18
- Geldig vanaf
- Status
- Geldend recht
- Identificatie
- BWBV0002598
- Officiële bron
- wetten.overheid.nl