Honduras - Taiwan Province of China BIT (1996)

includes interests, capital gains, profits, dividends, royalties or fees.

4. Specific risks

The events or events that could occur and that cause loss or damage to protected investments under this Agreement. Such risks are the following: a) "no convertibility", or a situation where, within the period of this Convention, investors of either Contracting Party, after one year of operation of the Investment, may not make foreign currency and repatriation of their capital invested in the host State or its profits (benefits, capital gains, interest, dividends, royalties or fees) to its own country within sixty days from the date on which the investor has submitted its reasons; or to investors of either Contracting Party suffer losses in the repatriation of their investments in its original or revenue due to the exchange rate imposed by the Government of the other contracting party, not reflect the exchange rate prevailing in the banking market. b) "expropriation" or nationalization of foreign companies or dispossession of property by the Government of the host State, with the consequent injury of investors of the other Contracting Party; or State measures, amendment or repeal of laws that adverse effects equivalent to nationalization or expropriation of businesses owned by investors of the Government of the host State. c) "war, revolution or insurrection", or a situation of armed conflict which causes loss or damage to investors of the other party.

5. Competent authority

In the case of the Republic of China, the competent authority on matters of foreign investment is the Ministry of Economic Affairs as defined in the statute of foreign investment of that country. In the case of the Republic of Honduras, the competent authority with respect to foreign investment is the Ministry of Economy and Trade in accordance with the law of that country. Article II. Approval of Investments Investments referred to in this Agreement shall be approved by the contracting States. It will be considered the State of which an investor is a national has given its approval when the Government of that State has notified the Government of the host State such approval. The Government of the host State has given its approval when it has granted the investor the commercial licence or other document required to start operations in that State. In the case of Honduras, document requirement shall be the certificate

of investment in accordance with the "investment law" of that country. Article III. Promotion and Protection of Investments

1. Each Contracting Party shall encourage and create favourable conditions for nationals or companies of the other contracting party to invest capital in its own territory. 2. Investments made by nationals or companies of one Contracting Party, shall be accorded in the territory of the other contracting party full protection and security in accordance with the domestic legislation of the latter. 3. Each Contracting Party undertakes to guarantee to investments of nationals and companies of the other party a fair and equitable treatment and non-discriminatory under domestic law and international law, and to ensure that the exercise of the right thus recognized is not unduly hampered in any form. Article IV. National Treatment Each Contracting Party shall apply in its territory, to nationals and companies of the other party, as regards to the protection of their investments, treatment accorded to its nationals, or the treatment accorded to nationals or companies of any third State, whichever is more favourable. Article V. Exceptions to National Treatment

The aforementioned, in article IV, shall not be construed so as to oblige one contracting party to extend to nationals or companies of the other Contracting Party the benefit of any treatment, preference or privilege resulting from:

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