On the ratification of the Agreement between the Government of the Republic of Kazakhstan and the Government of the Slovak Republic on the Promotion and Mutual Protection of Investments

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The Law of the Republic of Kazakhstan dated March 15, 2016 No. 472-V SAM

To ratify Agreement between the Government of the Republic of Kazakhstan and the Government of the Slovak Republic on the Promotion and Mutual Protection of Investments, signed in Bratislava on November 21, 2007.

President of the Republic of Kazakhstan N. NAZARBAYEV

Agreement between the Government of the Republic of Kazakhstan and the Government of the Slovak Republic on the Promotion and Mutual Protection of Investments

Entered into force on June 29, 2016 - Bulletin of International Treaties of the Republic of Kazakhstan 2016, No. 3, art. 56

The Government of the Republic of Kazakhstan and the Government of the Slovak Republic, hereinafter referred to as the "Contracting Parties", desiring to expand economic cooperation for the mutual benefit of both Contracting Countries; intending to create and maintain favorable conditions for investors of the State of one of the Contracting Parties who invest in the territory of the State of the other Contracting Party, realizing that the promotion and mutual protection of such investments, on the basis of this Agreement, stimulate business initiatives in this area; have agreed on the following:

Article 1 Definitions

For the purposes of this Agreement: 1. The term "investment" means all types of assets invested by investors of the State of one Contracting Party in the territory of the State of the other Contracting Party in accordance with the national legislation of the State of the latter and may include, in particular, but not exclusively: (a) movable and immovable property or property rights such as mortgages, leases or pledges; (b) shares, shares, debentures and any other forms of participation in companies; (c) monetary claims or any performance of work under a contract that has economic value; (d) intellectual property rights, including rights in respect of copyrights, patents, industrial designs or models, technical processes, trademarks and service marks, trademarks, and know-how and good will, and other rights in accordance with the national laws of the States of the Contracting Parties; (e) concessions of economic value granted in accordance with legislation or under contract, including concessions for the exploration, cultivation, extraction or exploitation of natural resources. Any change in the form in which assets are invested or reinvested should not affect their nature as investments. 2. The term "income" means the amount received from investments and, in particular, but not exclusively, includes profits, interest, dividends, royalties, royalties and other remuneration. 3. The term "investor" means any natural or legal person of the State of one Contracting Party who invests in the territory of the State of the other Contracting Party in accordance with the national legislation of the State of such Contracting Party and the provisions of this Agreement.: (a) the term "natural person" means any natural person who is a national of a State of one Contracting Party and is authorized, in accordance with the national legislation of the State of that Contracting Party, to make investments, and (b) the term "legal entity" means any legal entity established and registered in accordance with the national legislation of the State of one Contracting Party. 4. The term "territory" means: with respect to the Republic of Kazakhstan - the territory of the State within the land, sea and air borders, including land, waters, subsoil and airspace over which the State exercises sovereignty and extends jurisdiction in accordance with international law; In relation to the Slovak Republic, these are the land territories, internal waters and the airspace above them, over which the State exercises sovereignty, sovereign rights and extends jurisdiction in accordance with international law. 5. The term "freely convertible currency" means a currency that is widely used to make payments for international transactions and is widely exchanged on the main International foreign exchange market.

Article 2 Investment promotion and protection

1. Each Contracting Party shall encourage and create favorable conditions in the territory of its State for investments by investors of the State of the other Contracting Party and recognize such investments in accordance with the national legislation of its State. 2. Each Contracting Party in the territory of its State provides investments and income from investments of investors of the State of the other Contracting Party with fair and equitable treatment and full protection and security. 3. None of the Contracting Parties on the territory of its State will in any way violate, by arbitrary or discriminatory measures, the management, maintenance, use, possession or other disposal of investments of investors of the State of the other Contracting Party.

Article 3 National and most-favored-nation treatment

1. Each Contracting Party shall grant in the territory of its State to investors of the State of the other Contracting Party and their investments and investment income a regime no less favorable than that which it grants to its own investors or to investors of a third State and their investments with respect to the expansion, management, maintenance, use, possession, sale or other disposal of their investments. 2. Each Contracting Party shall provide investors and their investments and income from investments of the State of the other Contracting Party with the most favorable treatment in accordance with paragraph 1 of this Article. 3. The provisions of paragraphs 1 and 2 of this Article shall not apply to all current or future benefits of any regime granted by any Contracting Party by virtue of its membership or obligations under a customs, economic or monetary union, single market or free trade area.; to its investors, investors of the member States of such a union, single market or free trade area, or any other third state. 4. The provisions of paragraphs 1 and 2 of this Article shall not apply to any advantages that either Contracting Party provides to investors of a third State on the basis of an Agreement for the Avoidance of Double Taxation or any agreement relating in whole or in part to taxation issues.

Article 4 Compensation of losses

1. To investors of the State of one Contracting Party whose investments in the territory of the State of the other Contracting Party have suffered losses as a result of a military or other armed conflict, riot, insurrection, rebellion, state of national emergency or civil unrest, the latter Contracting Party shall grant a regime no less favorable than the regime for restitution, compensation, compensation or other forms of settlement., which the latter Contracting Party provides to its investors or investors of a third country, which is the most favorable for the investor. 2. Without prejudice to paragraph (1) of this Article, investors of a State of one Contracting Party who, in any of the situations referred to in the said paragraph, incur losses in the territory of the State of the other Contracting Party, as a result of: (a) the requisition of their property by the other Contracting Party, or (b) the destruction of their property by the other Contracting Party, which was not caused by military action or was not required by the necessity of the situation, will receive restitution or adequate compensation no less favorable than that, which, under the same circumstances, an investor from the State of the other Contracting Party or a third State would receive.

Article 5 Expropriation

1. Investments of investors of the State of one Contracting Party shall not be expropriated, nationalized, requisitioned or otherwise subjected to any other measures having an effect equivalent to expropriation, nationalization or requisition (hereinafter referred to as expropriation) in the territory of the State of the other Contracting Party, except for measures taken for state purposes on a non-discriminatory basis in accordance with national legislation. by law and with immediate, adequate and effective compensation. 2. Compensation should be equal to the market value of the expropriated investments on the date preceding the date of expropriation or before the expropriation became generally known, which is the earliest. Such compensation should include interest at the commercial rate established on a market basis from the date of expropriation until the payment date. Compensation must be paid in the currency in which the investor made the investment, or with the investor's consent in any other currency. Compensation must be fully realizable and freely transferable without limitation or unnecessary delay. 3. An investor of a State of any Contracting Party who has suffered from expropriation has the right to have his case or assessment of his investments urgently examined by judicial or other competent and independent authorities of the other Contracting Party in accordance with the provisions set out in this Article. 4. In cases where a Contracting Party expropriates the assets of a company incorporated or formed in accordance with the national legislation of the State of that Contracting Party, and in which investors of the State of the other Contracting Party own shares, the provisions of this article will apply to the extent necessary to ensure immediate, adequate and effective compensation.

Article 6 Translations

1. Each Contracting Party guarantees investors of the State of the other Contracting Party, after fulfilling their financial obligations, the free transfer of payments, including the principal amounts and income related to their investments. Such payments should include, in particular, but not exclusively: (a) initial capital and additional amounts for the maintenance and development of investments; (b) income; (c) proceeds from the full or partial sale or liquidation of investments; (d) payments under the contract, including payments made under the loan agreement; (e) compensation in accordance with articles 4 and 5; (f) payments related to dispute resolution; (g) salaries and other remuneration for personnel employed abroad in connection with investments. 2. Each Contracting Party must ensure that the transfer referred to in paragraph 1 of this Article is made in freely convertible currency at the market exchange rate of the Contracting Party in whose territory the investment was made effective on the day of the transfer. 3. In the absence of a foreign exchange market, the exchange rate to be applied must be the latest exchange rate determined in accordance with the rules of the International Monetary Fund. 4. However, each Contracting Party may prevent or restrict transfers carried out in accordance with paragraphs 1, 2 and 3 of this Article through the equal, non-discriminatory and fair application of its national legislation relating to: (a) taking protective measures for a necessary period of time, which may be taken in exceptional circumstances, such as: serious macroeconomic difficulties or serious balance of payments difficulties for the receiving Contracting Party; (b) bankruptcy, insolvency, or protection of creditors' rights; (c) issuance, trading, or transactions in securities, futures, options, and derivatives; (d) offenses; (e) financial reporting or accounting of transfers when assistance is needed to implement the law or financial regulatory authorities; (f) foreign exchange transactions; (g) enforcement of sentences, orders or judgments in court proceedings; (h) unpaid taxes and other mandatory payments. 5. Measures referred to in subparagraph (a) paragraph 4 should not be arbitrary or discriminatory, should be implemented within a limited period of time and should not exceed the measures necessary to resolve difficulties related to the balance of payments situation. The Contracting Party that establishes measures in accordance with this Article shall immediately inform the other Contracting Party of the adoption of these measures.

Article 7 Subrogation

1. If a Contracting Party or an agency designated by it makes payments to its own investors under a guarantee or refund given in respect of investments in the territory of the State of the other Contracting Party, the latter Contracting Party must recognize: (a) the transfer of any rights and claims of such investor to the former Contracting Party or agency designated by it; and (b) that the previous Contracting Party A party or an agency designated by it is given the right, by virtue of subrogation, to exercise the rights and comply with the requirements of those investors. 2. The subrogated rights or claims must not exceed the original rights or claims of the investor.

Article 8 Regulation of investment disputes between By the Contracting Party and the investor of the other State Of the Contracting Party

1. Any dispute between a Contracting Party and an investor of the State of the other Contracting Party in respect of investments should, if possible, be amicably resolved by the parties to the dispute. 2. If the dispute cannot be resolved within six (6) months from the date of notification of the dispute by either Contracting Party, it must be submitted, at the request and choice of the investor or the party to the dispute: (a) to the local competent court of the Contracting Party in whose territory the investment was made, or (b) to the International Settlement Center investment Disputes, established in accordance with the Convention on the Settlement of Investment Disputes between States and Natural or Legal Persons of Other States of March 18, 1965 (hereinafter referred to as the Washington Convention); or (c) to an "ad hoc" arbitral tribunal established in accordance with the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL). 3. An investor who has referred a dispute to a local court may nevertheless apply to the arbitration tribunal referred to in subparagraph (b). paragraph 2 or subparagraph (c) paragraph 2 of this article, if, before making a decision on the subject matter of consideration by the local court, the investor declares that he will no longer continue the case through national judicial procedures and will withdraw the case. 4. Without prejudice to article 26 of the Washington Convention, each Contracting Party hereby agrees to submit a dispute for settlement between such Contracting Party and an investor of the other Party's State to arbitration in accordance with this article. 5. The arbitration award must be final and binding on the parties to the dispute. Each Contracting Party must immediately implement such a decision and ensure the effective enforcement of such decisions on the territory of its State.

Article 9 Dispute settlement between the Contracting Parties

1. Disputes between the Contracting Parties concerning the interpretation and application of this Agreement shall, if possible, be resolved through consultations. 2. If the dispute cannot be resolved in this way within six months from the date on which such consultations were requested by either Contracting Party in writing, it must be submitted to the ad hoc arbitral tribunal (hereinafter referred to as the arbitral tribunal) in accordance with the provisions of this article. 3. Such an arbitration court shall be established for each individual case as follows: within two (2) months of receipt of the request for arbitration, each Contracting Party shall appoint one member of the arbitration court. These two members must then select a third-country national as President of the Court, who, after approval by the two Contracting Parties, will be appointed within four (4) months from the date of appointment of the other two members. 4. If the necessary appointments have not been made within the period specified in paragraph 3 of this Article, in the absence of any other agreement, any Contracting Party may request the President of the International Court of Justice to make such appointments. If the President is a national of a State of either Contracting Party or another circumstance prevents the performance of this function, the next most senior member of the International Court of Justice, who is not a national of either Contracting Party, should be invited to make the necessary appointments. 5. The arbitration court must make a decision by a majority vote. Such a decision must be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs of its arbitrator and representation in the arbitration process. Both Contracting Parties shall bear the expenses of the Chairman in equal shares. However, the arbitral tribunal may, at its discretion, order that most or all of the costs be paid by one Contracting Party. In all other respects, the arbitral tribunal determines its own procedure. 6. All issues related to the dispute referred to in paragraph 1 of this article must be resolved in accordance with the provisions of this Agreement and generally recognized principles of international law.

Article 10 Consultations

At the request of either Contracting Party, the other Contracting Party immediately agrees to hold consultations on the interpretation and/or application of this Agreement.

Article 11 Application of other rules and special obligations

1. If the norms of the national legislation of the State of any Contracting Party or international treaties to which the States of the Contracting Parties are parties contain rules, general or special, providing investments made by investors of the State of the other Contracting Party with a more favorable regime than provided by this Agreement, then a more favorable regime is provided. 2. Each Contracting Party guarantees compliance with the obligations it has entered into with respect to investments by investors of the State of the other Contracting Party.

Article 12 Applicability of this Agreement

This Agreement applies to all investments made by investors of the State of either Contracting Party in the territory of the State of the other Contracting Party both before and after the entry into force of this Agreement, but does not apply to any dispute or claim related to investments that arose and (or) was settled before its entry into force.

Article 13 Final provisions

1. This Agreement shall enter into force on the ninetieth (90) day after the date of receipt of the last notification through diplomatic channels, in which the Contracting Parties notify each other in writing of the completion of the internal procedures necessary for its entry into force. 2. This Agreement is concluded for ten (10) years and, upon their expiration, is extended indefinitely, unless one of the Contracting Parties sends a prior written notification to the other Contracting Party of its intention to terminate this Agreement at least 12 months before the expected withdrawal date. 3. With respect to investments made prior to the date of termination of this Agreement, the provisions of articles 1-12 shall remain in force for a further ten (10) year period from the date of termination of this Agreement. 4. By mutual agreement of the Contracting Parties, amendments and additions may be made to this Agreement, which are formalized by protocols that are integral parts of this Agreement. In witness whereof, the undersigned, being duly authorized thereto, have signed this Agreement. Done in Bratislava on November 21, 2007, in two originals, each in the Kazakh, Slovak, English and Russian languages, all texts being equally authentic. In case of divergence in interpretation of the provisions of this Agreement, the English text shall be used as the basis.

For the Government For the Government of the Republic of Kazakhstan of the Slovak Republic

Galym Orazbakov Jan Pochiatek Minister of Industry and Minister of Finance and Trade

RCPI's note! The text of the Agreement in Slovak and English is attached.

President

Republic of Kazakhstan

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