46
United Nations — Treaty Series
1952
- all matters pertaining to the levying and collection of taxes, access to the courts, the making and performance of contracts, rights to property (including those relating to intangible property and excluding those with respect to mining), participation in juridical entities, and generally the conduct of all kinds of business and professional activities with the exception of financial (including insurance) activities and those reserved by either Party exclusively to its nationals.
- (b) Whenever the grant of most-favored-nation treatment by either Party to the other Party, concerning rights to property, participation in juridical entities and conduct of business and professional activities, as specified in sub-paragraph (a) (ii) of this paragraph, amounts in effect to the grant of national treatment, such Party shall not be obligated to grant more favorable treatment than that granted by the other Party under most-favored-nation treatment.
- (c) External purchases and sales of government trading enterprises shall be based solely on commercial considerations.
- (d) In the application of the present Arrangements, it is understood
- (i) that vessels of the Republic of China shall be deemed to include all those registered under the laws and regulations which have been or may hereafter be enforced by the Republic of China in Taiwan (Formosa) and Penghu (the Pescadores); and products of the Republic of China shall be deemed to include all those originating in Taiwan (Formosa) and Penghu (the Pescadores); and
- (ii) that a discriminatory measure shall not be considered to derogate from the grant of treatments prescribed above, if such measure is based on an exception customarily provided for in the commercial treaties of the Party applying it, or on the need to safeguard that Party's external financial position or balance of payments (except in respect to shipping and navigation), or on the need to maintain its essential security interests, and provided such measure is proportionate to the circumstances and not applied in an arbitrary or unreasonable manner.
The Arrangements set forth in this paragraph shall remain in force for a period of one year as from the date on which the present Treaty enters into force.
No. 1858
