Bekendtgørelse af overenskomst af 23. maj 2003 med Marokko om fremme og gensidig beskyttelse af investeringer

Bekendtgørelse af overenskomst af 23. maj 2003 med Marokko om fremme og gensidig beskyttelse af investeringer

Den 23. maj 2003 undertegnedes i Rabat en overenskomst mellem Danmark og Marokko om fremme og gensidig beskyttelse af investeringer.

Overenskomsten har følgende ordlyd

Overenskomsten, der i henhold til artikel 13 ikke omfatter Færøerne og Grønland, trådte i medfør af artikel 14 i kraft den 19. april 2013.

OVERENSKOMST

AGREEMENT BETWEEN

MELLEM KONGERIGET DANMARKS REGERING OG

THE GOVERNMENT OF THE KINGDOM OF DENMARK AND

KONGERIGET MAROKKOS REGERING OM FREMME OG GENSIDIG BESKYTTELSE AF INVESTERINGER

THE GOVERNMENT OF THE KINGDOM OF MOROCCO FOR THE RECIPROCAL PROMOTION AND PROTECTION OF INVESTMENTS

Præambel

Preamble

Kongeriget Danmarks regering og Kongeriget Marokkos regering, herefter omtalt som de ”kontraherende parter”,

The Government of the Kingdom of Denmark and the Government of the Kingdom of Morocco hereinafter referred to as “Contracting Parties”,

SOM ØNSKER at skabe fordelagtige vilkår for investeringer foretaget af den ene kontraherende part i den anden kontraherende parts territorium og styrke samarbejdet mellem private foretagender i begge stater med henblik på at stimulere den produktive anvendelse af ressourcer,

DESIRING to create favourable conditions for investments by investors of one Contracting Party in the territory of the other Contracting Party and to intensify the co-operation between investors and enterprises, of the two Contracting Parties with a view to stimulating the productive use of resources,

SOM ANERKENDER, at en rimelig og retfærdig behandling af investeringer på et gensidigt grundlag vil tjene dette formål,

RECOGNIZING that a fair and equitable treatment of investments on a reciprocal basis will serve this aim,

ER BLEVET enige om følgende

HAVE AGREED as follows

Artikel 1

Article 1

Definitioner

Definitions

I denne overenskomst

For the purposes of this Agreement

1. skal udtrykket »investering« omfatte enhver form for aktiver og indskud foretaget af den ene kontraherende part i den anden kontraherende parts territorium i overensstemmelse med love og regler i sidstnævnte land og i særdeleshed, men ikke udelukkende

1. the term “investment” means every kind of assets invested by an investor of one Contracting Party in the territory of the other Contracting Party in accordance with the laws and regulations of the latter and in particular, though not exclusively, includes

a)

løsøre og fast ejendom såvel som enhver anden rettighed, såsom leasing-kontrakter, realkredit, tilbageholdelses- og panterettigheder, forlods og kautionskrav og alle andre lignende rettigheder,

a)

movable and immovable property, as well as any other rights such as leases, mortgages, liens, pledges, privileges, guarantees and any other similar rights,

b)

et firma eller en virksomhed, eller andele, aktier eller andre former for deltagelse i et firma eller en virksomhed og gældsbeviser og gæld i et firma eller en virksomhed,

b)

shares, stocks or other forms of participation, and full ownership of a company or business enterprise and bonds of a company or business enterprise,

c)

geninvesteret udbytte, fordringer på penge og opfyldelse af kontrakt af finansiel værdi,

c)

returns reinvested, claims to money and performance pursuant to contracts having an economic value,

d)

industrielle og intellektuelle ejendomsrettigheder, herunder ophavsrettigheder, patenter, firmanavne, teknologi, varemærker, goodwill, know-how og alle andre lignende rettigheder,

d)

industrial and intellectual property rights, including copyrights, patents, trade names, technology, trademarks, goodwill, know-how and any other similar rights,

e)

offentligretlige koncessioner eller andre rettigheder, som er tildelt ved lov eller kontrakt, herunder koncessioner til eftersøgning og udvinding af naturressourcer.

e)

public law concessions or other rights conferred by law or under contract, including concessions to search for, extract or exploit natural resources.

2.

En ændring i den måde, hvorpå midler investeres eller reinvesteres, påvirker ikke deres karakter som investering for så vidt angår denne aftale.

2.

A change in legal form in which assets are invested or reinvested, does not affect their character as “investments” in the meaning of this Agreement.

3.

Udtrykket »udbytte« skal betyde de beløb, som investeringen afkaster, omfattende især, men ikke udelukkende, fortjeneste, renter, kapitalgevinster, dividender, royalties eller honorarer.

3.

“Returns” means revenues yielded by an investment and includes in particular, though not exclusively, profit, interest, capital gains, dividends, royalties or fees.

4.

Udtrykket »investor« skal for begge kontraherende parters vedkommende betyde

4.

“Investor” means with respect to each Contracting Party

a)

Fysiske personer med statsborgerskab i en kontraherende part i overensstemmelse med denne parts gældende lov.

a)

Natural persons having the nationality of each Contracting Party in accordance with its laws and making an investment in the territory of the other Contracting Party.

b)

Enhver enhed etableret i overensstemmelse med og anerkendt som en juridisk person i henhold til loven i den kontraherende part, såsom selskaber, firmaer, sammenslutninger, finansieringsinstitutioner på udviklingsområdet, fonde eller lignende enheder, uanset om de har begrænset ansvar og om de måtte være rettet mod overskudsgivende virksomhed.

b)

Any corporation, partnership, other associations or entity, including development finance institutions, incorporated or constituted and recognized as a legal person under the law in force in each of the Contracting Parties and making an investment in the territory of the other Contracting Party.

5.

Udtrykket »territorium« betyder

5.

“Territory” means

a)

For Kongeriget Marokko: Kongeriget Marokkos territorium, såvel som ethvert maritimt område udenfor Kongeriget Marokkos territorialfarvand, som i overensstemmelse med folkeretten, gennem Kongeriget Marokkos lovgivning er angivet som et område hvor Kongeriget Marokkos rettigheder til havbund, maritim undergrund og naturressourcer kan udøves.

a)

With respect of the Kingdom og Morocco;

the territory of the Kingdom of Morocco, including any maritime area situated beyond the territorial waters of the Kingdom of Morocco, which, according to international law, are designed by the law of the Kingdom of Morocco, as being an area into which the rights of the Kingdom of Morocco relative to sea bed and maritime subsoil as well as to natural resources can be exercised.

b)

For kongedømmet Danmark: Det territorium som hører under dets suverænitet, såvel som det hav og de submarine zoner og kontinentalsoklen, over hvilke Kongeriget Danmark udøver suveræne rettigheder eller jurisdiktion i henhold til folkeretten.

b)

With respect to the Kingdom of Denmark;

The territory under its sovereignty as well as the sea and the submaritime zones over which the Kingdom of Denmark exercises, in conformity with international law, sovereign rights or jurisdiction.

Artikel 2

Article 2

Investeringsfremme og -beskyttelse

Promotion and protection of investments

1.

Hver kontraherende part skal i overensstemmelse med sine love og administrativ praksis tillade investeringer fra den anden kontraherende parts investorer og fremme sådanne investeringer, herunder lette etableringen af repræsentationskontorer.

1.

Each Contracting Party shall admit investments, including investments connected with the establishment of representative offices, by investors of the other Contracting Party in accordance with its legislation and regulations and encourage such investments.

Omdannelse af investeringer sket i overensstemmelse med love og regler i kraft i værtslandet til en ny form for virksomhed, forskellig fra den oprindeligt godkendte type virksomhed, er at betragte som en ny investering.

Transformation of an investment made according to the laws and regulations in force in the host country into a new line of business, different from the originally approved line of the business, is considered as a new investment.

2.

Investeringer fra investorer fra hver af de kontraherende parter skal til enhver tid nyde fuld beskyttelse og sikkerhed på den anden kontraherende parts territorium.

Ingen kontraherende part må på nogen måde skade den anden kontraherende parts investorers forvaltning, opretholdelse, anvendelse, besiddelse eller afvikling af investeringer på sit territorium.

2.

Investments of investors of each Contracting Party shall receive a fair and equitable treatment and enjoy full protection and security, subject to the measure strictly necessary for the maintenance of public order, in a non-discriminatory way.

Neither Contracting Party shall in any way impair by unreasonable or discriminatory measure the management, use, enjoyment or disposal of investments in its territory of investors of the other Contracting Party.

3.

Uden præjudice for bestemmelserne i denne aftale skal hver kontraherende part til ethvert tidspunkt overholde alle forpligtelser, den måtte have indgået vedrørende investeringer fra den anden kontraherende parts investorer, og ingen kontraherende part må indgå særlige aftaler med investorer fra den anden kontraherende part på mindre favorable vilkår end dem, der er tildelt investorer og investereringer i henhold til denne aftale.

3.

Without prejudice to the provision of this Agreement each Contracting Party ensure at any moment the respect of commitments it has taken towards investors of the other Contracting Party and each Contracting Party shall not conclude particular agreements with investors of the other Contracting Party on conditions less favorable than those accorded to investors and investments by provisions of the Agreement.

4.

Afkast af såvel investeringer som geninvesteringer skal gives samme beskyttelse som investeringer i overensstemmelse med bestemmelserne i denne aftale.

4.

Returns, and in case of reinvestment amounts yielded from investments, shall be given the same protection as the investment in accordance with the provisions of this Agreement.

Artikel 3

Article 3

Investeringers behandling

Treatment of investments

1.

Hver kontraherende part skal på sit territorium give investeringer foretaget af den anden kontraherende parts investorer en rimelig og retfærdig behandling, som på ingen måde er mindre gunstig end den, der gives dens egne investorer eller investorer fra noget tredjeland, idet den set fra investors synspunkt mest gunstige behandling lægges til grund.

1.

Each Contracting Party shall in its territory accord to investments made by investors of the other Contracting Party fair and equitable treatment which in no case shall be less favourable than that accorded to its own investors or to investors of any third state, whichever is the more favorable to the investor.

2.

Hver kontraherende part skal på sit territorium give den anden kontraherende parts investorer en rimelig og retfærdig behandling, hvad angår forvaltning, opretholdelse, anvendelse, besiddelse eller afvikling af deres investeringer, som på ingen måde er mindre gunstig end den, der gives dens egne investorer eller investorer fra noget tredjeland, idet den set fra investors synspunkt mest gunstige behandling lægges til grund.

2.

Each Contracting Party shall in its territory accord investors of the other Contracting Party, as regards their management, maintenance, use, enjoyment or disposal of their investment, fair and equitable treatment which in no case shall be less favourable than that accorded to its own investors or to investors of any third State, whichever of these standards is the more favourable from the point of view of the investor.

Artikel 4

Article 4

Undtagelser

Exceptions

Bestemmelserne i denne aftale vedrørende tilståelsen af en ikke mindre gunstig behandling end den, der gives investorer fra nogen af de kontraherende parter eller noget tredjeland, skal ikke udlægges som en forpligtelse for den ene kontraherende part til at tilbyde investorer fra den anden kontraherende part fordelene ved nogen behandling, præference eller privilegier, der hidrører fra

The provisions of this Agreement relative to the granting of treatment not less favourable than that accorded to the investors of each Contracting Party or of any third State shall not be construed so as to oblige one Contracting Party to extend to investors of the other Contracting Party the benefit of any treatment, preference or privilege resulting from

a)

medlemskab af enhver eksisterende eller fremtidig regional økonomisk organisation eller toldunion, i hvilken nogen af de kontraherende parter er eller måtte blive part, eller

a)

membership of any existing or future Regional Economic Integration Organisation or customs union of which one of the Contracting Parties is or may become a party, or

b)

enhver international overenskomst eller ordning, som helt eller fortrinsvis vedrører beskatning.

b)

any international agreement or arrangement relating wholly or mainly to taxation.

Artikel 5

Article 5

Ekspropriation og erstatning

Expropriation and compensation

1.

Investeringer fra de kontraherende parters investorer må ikke nationaliseres, eksproprieres eller underkastes foranstaltninger med tilsvarende virkning som nationalisering eller ekspropriation (i det følgende benævnt »ekspropriation«) på den anden kontraherende parts territorium, medmindre det sker af hensyn til almenvellet, på et ikke-diskriminatorisk grundlag, med behørig retsgyldighed og mod en omgående, fyldestgørende og effektiv erstatning.

1.

Investments of investors of each Contracting Party shall not be nationalized, expropriated or subjected to measures, having effect equivalent to nationalization or expropriation (hereinafter referred to as expropriation) in the territory of the other Contracting Party except for expropriations made in the public purpose, on a basis of non-discrimination, carried out under due process of law, and against prompt, adequate and effective compensation.

2.

Denne erstatning skal svare til den rimelige markedsværdi af den eksproprierede investering umiddelbart før ekspropriationen eller den forestående ekspropriation blev offentlig kendt, og derved kunne påvirke investeringens værdi (i det følgende benævnt »vurderingsdag«).

2.

Such compensation shall amount to the fair market value of the investment expropriated immediately before the expropriation or impending expropriation became known to the public in such a way as to affect the value of the investment (hereinafter referred to as the “valuation date”).

3.

Denne rimelige markedsværdi skal beregnes i en frit konvertibel valuta på basis af den gældende markedsvekselkurs for den pågældende valuta på vurderingsdagen i det eksproprierende land.

Erstatning skal betales omgående og skal indeholde renter til handelsværdi baseret på markedsniveau fra ekspropriationsdagen frem til betalingsdagen.

3.

Such fair market value shall be calculated in a freely convertible currency on the basis of the official rate of exchange for that currency on the valuation date in the expropriating country.

Compensation shall be paid promptly and include interest at the compensations rate established on a market basis from the date of the expropriation until the date of payment.

4.

Den berørte investor skal ved domsmyndighed eller anden kompetent og uafhængig myndighed på den eksproprierende kontraherende parts territorium have ret til omgående i henhold til loven i den kontraherende part, som foretager ekspropriationen, at få prøvet lovligheden af sagen og af erstatningsvurderingen af investeringen og af erstatningsbetalingen, i overensstemmelse med de principper, der er fastsat i stk. (1) i denne Artikel.

4.

The investor affected shall have a right to prompt review under the law of the Contracting Party making the expropriation, by a judicial authority of that Contracting Party, of its case, of the valuation of its investment, and of the payment of compensation, in accordance with the principles set out in section 1 of this Article.

Artikel 6

Article 6

Erstatning for tab

Compensation for losses

1.

Investorer fra en kontraherende part, hvis investeringer på den anden kontraherende parts territorium lider tab på grund af krig eller anden væbnet konflikt, revolution, national undtagelsestilstand, revolte, oprør eller uroligheder på sidstnævnte kontraherende parts territorium, skal gives en behandling af sidstnævnte kontraherende part, hvad angår genindsættelse i tidligere rettigheder, skadesløsholdelse, erstatning eller anden fyldestgørelse, der ikke er mindre gunstig end den, som sidstnævnte kontraherende part giver sine egne investorer eller investorer fra noget tredjeland, idet den udfra investors synspunkt mest gunstige behandling lægges til grund.

1.

Investors of the Contracting Party whose investments in the territory of the other Contracting Party suffer damage or losses owing to war or other armed conflict, revolution, a state of national emergency, revolt, insurrection, riot or any similar event in the territory of the latter Contracting Party, shall be accorded by the latter Contracting Party a non discriminatory treatment, as regards restitution, indemnification, compensation or other settlement, no less favourable than that which the latter Contracting Party accords to its own investors or investors of any third State, whichever is the more favorable to the investor.

2.

Uden præjudice for stk. 1 i denne Artikel skal en kontraherende parts investor, som i en af de i stk. 1 nævnte situationer lider et tab på den anden kontraherende parts territorium som følge af

2.

Without prejudice to section 1 of this Article, an investor of a Contracting Party who, in any of the situation referred to in that section, suffers a loss in the area of another Contracting Party resulting from

a)

rekvirering af sin investering eller dele deraf, foretaget af den andens styrker eller myndigheder, eller

a)

requisitioning of its investment or part thereof by the latter's forces or authorities, or

b)

tilintetgørelse af sin investering eller dele deraf, foretaget af den andens styrker eller myndigheder, som ikke var påkrævet i den foreliggende situation,

b)

destruction of its investment or part thereof by the latter's forces or authorities, which was not required by the necessity of the situation.

ydes genindsættelse i tidligere rettigheder eller erstatning, som i alle tilfælde skal være omgående, fyldestgørende og effektiv.

shall be accorded, restitution or compensation which in either case shall be prompt, adequate and effective.

Artikel 7

Article 7

Overførsel af kapital og udbytte

Transfers of capital and returns

1.

Hver kontraherende part skal med hensyn til investeringer på sit territorium af den anden kontraherende parts investorer, efter fratrækkelse af fiskale forpligtelser, tillade overførsel, i konvertibel valuta, ind og ud af territoriet af i hvert fald men ikke udelukkende

1.

Each Contracting Party shall with respect to investments in its territory by investors of the other Contracting Party, after discharge of fiscal obligations, allow the free transfers, in convertible currency, into and out of its territory in particular but not exclusively, including

a)

startkapitalen og enhver yderligere kapital til vedligeholdelse og udvikling af en investering;

a)

the initial capital or any additional capital for the maintenance and development of an investment;

b)

den investerede kapital eller provenuet fra salg eller hel eller delvis likvidation af en investering;

b)

the invested capital or the proceeds from the sale or liquidation of all or any part of an investment;

c)

renter, dividender, fortjenester og andet realiseret udbytte;

c)

interest, dividends, profits royalties, fees and other returns realised;

d)

betalinger, som udgør afdrag på gæld vedrørende investeringer, og forfaldne renter;

d)

payments made for the reimbursement of the credits for investments, and interest due;

e)

betalinger, der hidrører fra rettigheder nævnt i Artikel 1, stk. (1), d) i denne aftale;

e)

payments derived from rights enumerated in Article 1, section 1, d) of this Agreement;

f)

En passende del af løn, indtægter og andre indkomster tilhørende udenlandske ansatte, som har arbejdet i forbindelse med en investering;

f)

an appropriate part of wages, salaries and other remuneration’s of personnel having been allowed to work in the territory of the Contracting Party in connection with an investment;

g)

erstatning, genindsættelse i tidligere rettigheder, skadesløsholdelse eller anden afgørelse, jfr.

Artikel 5 og 6;

g)

compensation, restitution, indemnification or other settlement pursuant to Article 5 and 6.

2.

Overførsler af betalinger i henhold til stk. (1) i denne Artikel skal ske uden forsinkelse og i en frit konvertibel valuta.

2.

Transfers of payments under paragraph 1 of this Article shall be effected without delay and in a freely convertible currency.

3.

Overførsler skal foretages til den officielle vekselkurs gældende på overførselsdagen med hensyn til loco-transaktioner i den valuta, hvori overførslen sker, og i overensstemmelse med love og regler for hver kontraherende part.

3.

Transfers shall be made at the official rate of exchange existing on the date of transfer in the currency to be transferred and set in accordance with the laws and regulations of each Contracting Party.

Artikel 8

Article 8

Subrogation

Subrogation

Hvis en kontraherende part eller dennes designerede agent (forsikrer) foretager betaling til sine egne investorer under en garanti, den har givet med hensyn til en investering på den anden kontraherende parts territorium, skal sidstnævnte kontraherende part anerkende

If one Contracting Party or its designated agency (insurer) makes a payment to its own investors under a guarantee covering non commercial risk of investments it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting party shall recognize

a)

overdragelsen af en hvilken som helst rettighed eller fordring fra investoren til førstnævnte kontraherende part eller dennes designerede agent (forsikrer), hvad enten den foretages i henhold til lov eller retshandel, og

a)

the assignment, whether under the law or pursuant to a legal transaction, of any right or claim by the investor to the former Contracting party or to its designated agency (insurer) and;

b)

at førstnævnte kontraherende part eller dennes designerede agent er berettiget til i kraft af subrogation at udøve investorens rettigheder og gennemføre investorens fordringer.

b)

that the former Contracting Party or its designated agency (insurer) is entitled by virtue of subrogation to exercise the rights and enforce the claims of that investor.

c)

enhver tvist mellem en kontraherende part og en forsikrer af en investering fra den anden kontraherende part skal løses i overensstemmelse med bestemmelserne i artikel 10 i denne aftale.

c)

any dispute between a contracting Party and the insurer of an investment of the other Contracting Party shall be settled in accordance with the provisions of the Article 10 of this Agreement.

Artikel 9

Article 9

Anvendelige regler

Applicable rules

Når et forhold, der vedrører investeringer, er reguleret ved denne aftale såvel som ved en af de kontraherende parters nationale lovgivning eller ved internationale konventioner, der eksisterer eller som de kontraherende parter tiltræder i fremtiden, så kan investorer fra den anden kontraherende part drage fordel af de bestemmelser, der er mest fordelagtige for dem.

When an issue relating to investments is ruled by this Agreement as well as by national law of one of the Contracting Parties or by international existing conventions or subscribed by the Parties in the future, investors of the other Contracting Party can benefit for provisions which are the most favorable to them.

Artikel 10

Article 10

Tvister mellem en kontraherende part og en investor

Disputes between a contracting party and an investor

1.

Enhver investeringstvist, som måtte opstå mellem en investor fra den ene kontraherende part og den anden kontraherende part i forbindelse med en investering på den anden kontraherende parts territorium, skal så vidt muligt søges bilagt mindeligt.

1.

Any investment dispute between one Contracting Party and an investor of the other Contracting Party shall be settled, as far as possible, amicably through consultations and negotiations between the parties in dispute.

2.

Hvis en sådan tvist mellem en investor fra den ene kontraherende part og den anden kontraherende part fortsat ikke er bilagt efter en periode på seks måneder fra investors skriftlige notifikation, skal investor være berettiget til at henføre sagen som investor ønsker til enten

2.

For the lack of amicably settlement through direct agreement between the parties in dispute within six months from the date of the investors written notification, the dispute may be submitted as the investor prefers;

a)

En kompetent domstol hos den kontraherende part i hvis territorium investeringen er fortaget, eller

a)

either to a competent court of the Contracting Party in which territory investment is made,

b)

Det Internationale Center for Bilæggelse af Investeringstvister (ICSID) i henhold til Konventionen om Bilæggelse af Investeringstvister mellem Stater og Statsborgere i andre Stater, der blev åbnet for undertegnelse i Washington den 18. marts 1965, eller

b)

or for arbitrations to the International Centre for Settlement of Investment Disputes (ICSID) set up by Convention for Settlement of Investment Disputes between States and Nationals of other States opened for signature at Washington D.

C.

on 18 March 1965.

c)

En international ad hoc voldgiftsdomstol nedsat i henhold til de voldgiftsregler, der gælder for FN’s Kommission for International Handelsret (UNCITRAL).

c)

or an ad hoc arbitrator tribunal established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL).

Til dette formål giver hver kontraherende part dets uigenkaldelige tilsagn til at enhver investeringstvist skal forelægges for det ovennævnte tribunal eller en af mæglingsprocedurerne.

For this purpose, each Contracting Party gives its irrevocable consent that any investment dispute shall be submitted to the above mentioned tribunal or one of the arbitration procedures.

3.

En kontraherende part involveret i en tvist må ikke gøre indsigelse, på et hvilket som helst tidspunkt af mæglingsforløbet eller under eksekveringen af en mæglingsafgørelse, såfremt investor gennem forsikring har modtaget skadeserstatning, der dækker helt eller delvist investors tab.

3.

A contracting Party, involved in a dispute, may not rise an objection, at any step of the arbitration proceedings or enforcement of an arbitration decision, in case the investor has received an indemnity covering fully or partly his losses under an insurance policy.

4.

Voldgiftsdomstolen skal træffe sin afgørelse på basis af national lov hos den kontraherende part, som er involveret i tvisten, og på hvis territorium investeringen befinder sig, inklusive regler om lovkonflikter, bestemmelserne i denne aftale, bestemmelserne i den eller de aftaler, der måtte blive indgået i forbindelse med investeringer samt principperne i international ret.

Bestemmelserne i dette afsnit skal ikke præjudicere domstolens beføjelser til at afgøre en tvist ex aequo et bono.

4.

The arbitral tribunal shall rule on the basis of national law of the Contracting Party involved in the dispute in which territory the investment is situated, including the rules relating to law conflict, the provisions of this Agreement, the provisions of the particular agreement that would be concluded concerning investments as well as principles of international law.

The provisions of this paragraph shall not prejudice the power of the tribunal to decide a dispute ex aequo et bono.

5.

Voldgiftsafgørelser skal være endelige og bindende for partnerne i en tvist.

Hver kontraherende part forpligter sig til at eksekvere beslutningerne i overensstemmelse med dens nationale lovgivning.

5.

Arbitral decisions shall be final and binding for the parties in dispute.

Each Contracting Party commits itself to execute these decisions according to its national law.

Artikel 11

Article 11

Tvister mellem de kontraherende parter

Disputes between the contracting parties

1.

Hvis der opstår en tvist mellem de kontraherende parter vedrørende fortolkningen og anvendelsen af denne overenskomst, bør de kontraherende parter så vidt muligt bilægge en sådan tvist gennem forhandlinger.

1.

If any disputes arises between the Contracting Parties concerning the interpretation and application of this Agreement, the Contracting Parties shall, as far as possible, try to settle any such disputes through negotiations.

2.

Hvis en tvist ikke kan bilægges inden for seks måneder fra tvistens begyndelse, skal den efter anmodning fra enhver af de kontraherende parter forelægges for en voldgiftsdomstol.

2.

If such a dispute cannot be settled within six months from the beginning of the dispute, it shall, upon the request of either Contracting Party, be submitted to an arbitral tribunal.

3.

En sådan voldgiftsdomstol skal nedsættes for hver enkelt sag på følgende måde

3.

Such an arbitral tribunal shall be constituted for each individual case in the following way

a)

Inden for tre måneder fra modtagelsen af begæringen om voldgift skal hver kontraherende part udpege et medlem af domstolen.

Disse to medlemmer skal derpå vælge en statsborger fra et tredjeland, som med de kontraherende parters godkendelse skal udpeges til formand.

Formanden skal udpeges inden for tre måneder fra datoen for udpegelsen af de to andre medlemmer.

a)

Within three months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the tribunal.

Those two members shall then select a national of a third State, who on approval by the Contracting Parties shall be appointed Chairman.

The Chairman shall be appointed within three months from the date of the appointment of the other two members.

b)

Hvis de nødvendige udpegelser ikke har fundet sted inden for nogen af de angivne perioder, kan enhver af de kontraherende parter i mangel af anden aftale opfordre præsidenten for Den Internationale Domstol til at foretage de nødvendige udpegelser.

Hvis præsidenten er statsborger i den ene kontraherende part, eller hvis han på anden måde er forhindret i at udføre nævnte funktion, skal vicepræsidenten opfordres til at foretage de nødvendige udpegelser.

Hvis vicepræsidenten er statsborger i den ene kontraherende part, eller hvis han på anden måde er forhindret i at udføre nævnte funktion, skal det medlem af Den Internationale Domstol, som er den næste i anciennitet, og som ikke er statsborger i en af de kontraherende parter, opfordres til at foretage de nødvendige udpegelser.

b)

If within any of the periods specified the necessary appointments have not been made, either Contracting Party may, in the absence of any other arrangement, invite the President of the International Court of Justice to make the necessary appointments.

If the President is a national of either Contracting Parties or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments.

If the Vice-President is a national of either Contracting Parties or if he, too, is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party shall be invited to make the necessary appointments.

c)

Voldgiftsdomstolen skal anvende bestemmelserne i denne overenskomst, andre overenskomster indgået mellem de kontraherende parter og folkerettens gældende procedureregler.

Den skal træffe sin afgørelse ved flertalsafgørelse.

Voldgiftdomstolen fastsætter sin egen procedure.

c)

The arbitral tribunal shall apply the provisions of this Agreement, other Agreements concluded between the Contracting Parties, and rules and principles of international law.

It shall reach its decision by a majority of votes.

The arbitral tribunal determines its own procedure.

d)

Voldgiftsdomstolens afgørelser er endelige og bindende for begge kontraherende parter.

d)

The decisions of the tribunal are final and binding upon the Contracting Parties of the dispute.

e)

Hver kontraherende part skal bære omkostningerne for sit eget voldgiftsmedlem ved domstolen og for sin medvirken i voldgiftssagen.

Omkostningerne til formanden og de øvrige omkostninger skal bæres ligeligt af de kontraherende parter.

e)

Each Contracting Party shall bear the cost of its own member of the tribunal and of its representation in the arbitral proceedings.

The cost of the Chairman and the remaining costs shall be borne in equal parts by the Contracting Parties.

Artikel 12

Article 12

Overenskomstens anvendelsesområde

Application

Bestemmelserne i denne overenskomst skal omfatte alle investeringer foretaget af den ene kontraherende parts investorer på den anden kontraherende parts territorium før eller efter overenskomstens ikrafttrædelse.

Den skal imidlertid ikke omfatte uoverensstemmelser eller tvister, som er opstået før dens ikrafttræden.

The provisions of this Agreement shall apply to all investments made by investors of one Contracting party in the territory of the other Contracting Party prior to or after the entry into force of the Agreement.

It shall, however, not be applicable to divergences or disputes which have arisen prior to its entry into force.

Artikel 13

Article 13

Territorial udvidelse

Territorial extension

Denne overenskomst skal ikke gælde for Færøerne og Grønland.

Bestemmelserne i denne overenskomst kan udvides til at omfatte Færøerne og Grønland i henhold til aftale herom ved noteveksling mellem de kontraherende parter.

This Agreement shall not apply to the Faroe Islands and Greenland.

The provisions of this Agreement may be extended to the Faroe Islands and Greenland as may be agreed between the Contracting Parties in an Exchange of Notes.

Artikel 14

Article 14

Ikrafttrædelse, varighed og ophør

Entry into force, duration and termination

1.

Denne overenskomst træder i kraft tredive dage efter den dato, hvor de kontraherende parters regeringer skriftligt har meddelt hinanden, at de forfatningsmæssige krav for denne overenskomsts ikrafttrædelse er blevet opfyldt.

1.

The Contracting Parties shall notify each other when the constitutional requirements for the entry into force of this Agreement have been fulfilled.

The Agreement shall enter into force thirty days after the date of the last notification.

2.

Denne overenskomst skal forblive i kraft i ti år og skal derefter forblive i kraft, med mindre den ene kontraherende part skriftligt meddeler den anden kontraherende part sin hensigt om at opsige overenskomsten.

Meddelelsen om opsigelse får virkning et år efter notifikationsdatoen.

2.

This Agreement shall remain in force for a period of ten years.

Unless terminated by one of the Contracting Parties at least one year before the termination of the duration period, it shall be renewed by tacit agreement for a new period of ten years, each Contracting Party having the right to terminate by written notification at least one year before the date of the end of the current duration period.

3.

For så vidt angår investeringer foretaget før overenskomstens ophør, skal overenskomsten fortsat være gyldig i en periode på 10 år fra datoen for overenskomstens ophør.

3.

For investments made before the termination of this Agreement, it shall remain in force for a further period of ten years from the date of the said termination.

TIL BEKRÆFTELSE HERAF har undertegnede, behørigt bemyndigede af deres respektive regeringer, underskrevet denne overenskomst.

IN WITNESS WHEREOF the undersigned, duly authorised thereto by their respective Governments, have signed this Agreement.

UDFÆRDIGET i to eksemplarer i Rabat den 23. maj 2003 på dansk, arabisk og engelsk, idet alle tekster skal have samme gyldighed.

DONE in duplicate at Rabat on May 23, 2003 in the Danish, Arabic and English languages, all texts being equally authentic.

I tilfælde af uenighed om fortolkningen skal den engelske tekst have forrang.

In the case of divergence of interpretation, the English text prevails.

FOR KONGERIGET DANMARKS

FOR THE GOVERNMENT OF THE

REGERING

KINGDOM OF DENMARK

Per Stig Møller

Per Stig Møller

FOR KONGERIGET MAROKKOS

FOR THE GOVERNMENT OF THE

REGERING

KINGDOM OF MOROCCO

Mohamed Benaïssa

Mohamed Benaïssa