Page 150 - Microsoft Word - FINAL COPY - A Legal Guide to Investing in Iraq _12-7-2015_ _6_.docx

“a” of Item “Second” above or in case of ‫ اﻟﺘﺎﻛﯿﺪ ﻋﻠﻰ اﺣﻘﯿﺔ اﻟﻤﺴﺘﺜﻤﺮ ﻓﻲ اﻟﻠﺠﻮء اﻟﻰ اﻟﺘﺤﻜﯿﻢ‬.4
unexplained or arbitrary refusal by any ‫اﻟﺘﺠﺎري اﻟﻮطﻨﻲ واﻟﺪوﻟﻲ ﻟﻀﻤﺎن ﺣﻘﻮﻗﮫ ﻋﻨﺪ ﻧﺸﻮء ﺧﻼف‬
sector, the One Stop Shop may submit a ‫ ﻣﻦ اﻟﺘﻌﺪﯾﻞ اﻟﺘﻲ ﺗﻀﻤﻨﺖ‬13 ‫ وھﺬا ﻣﺎﻧﺼﺖ ﻋﻠﯿﮫ اﻟﻤﺎدة‬،
recommendation to the NIC Chairman or ‫ ﻣﻦ اﻟﻘﺎﻧﻮن ﺑﻔﻘﺮاﺗﮭﺎ اﻟﻤﺘﻌﺪدة ﻟﺘﺤﻞ ﻣﺤﻠﮭﺎ‬27 ‫اﻟﻐﺎء اﻟﻤﺎدة‬
its Board of Directors as appropriate to ‫ﻣﺎدة ﺟﺪﯾﺪة ﺑﺼﯿﺎﻏﺎت اﻛﺜﺮ دﻗﺔ ﻓﯿﻤﺎ ﯾﺘﻌﻠﻖ ﺑﺎﻟﻤﻨﺎزﻋﺎت‬
grant an investment license in ‫اﻟﻨﺎﺷﺌﺔ ﻋﻦ ﻗﺎﻧﻮن اﻻﺳﺘﺜﻤﺎر ووﻻﯾﺔ اﻟﻘﻀﺎء اﻟﻌﺮاﻗﻲ ﻓﻲ‬
accordance to the Law.” ‫أوﻻً اﻟﻤﻌﺪﻟﺔ ﻋﻠﻰ‬/27 ‫ ﺣﯿﺚ ﻧﺼﺖ اﻟﻤﺎدة‬، ‫اﻟﻤﻨﺎزﻋﺎت‬
‫ﻣﺎﯾﺎﺗﻲ ) ﺗﺨﻀﻊ اﻟﻤﻨﺎزﻋﺎت اﻟﻨﺎﺷﺌﺔ ﻋﻦ ﺗﻄﺒﯿﻖ ھﺬا اﻟﻘﺎﻧﻮن‬
4. The Law has stressed the investor’s right ‫ وﯾﺠﻮز‬، ‫اﻟﻰ اﻟﻘﺎﻧﻮن اﻟﻌﺮاﻗﻲ ووﻻﯾﺔ اﻟﻘﻀﺎء اﻟﻌﺮاﻗﻲ‬
to resort to national and international ) ‫اﻻﺗﻔﺎق ﻣﻊ اﻟﻤﺴﺘﺜﻤﺮ ﻋﻠﻰ اﻟﻠﺠﻮء اﻟﻰ اﻟﺘﺤﻜﯿﻢ اﻟﺘﺠﺎري‬
commercial arbitration to safeguard its ‫اﻟﻮطﻨﻲ او اﻟﺪوﻟﻲ ( وﻓﻖ اﺗﻔﺎق ﯾﺒﺮم ﺑﯿﻦ اﻟﻄﺮﻓﯿﻦ ﯾﺤﺪد‬
rights if a dispute arises. This is evident ‫ﺑﻤﻮﺟﺒﮫ اﺟﺮاءات اﻟﺘﺤﻜﯿﻢ وﺟﮭﺘﮫ واﻟﻘﺎﻧﻮن اﻟﻮاﺟﺐ اﻟﺘﻄﺒﯿﻖ‬
in the provisions of Article 12 of the
amendment that eliminated Article 27 of ‫ ﺷﻤﻠﺖ اﺣﻜﺎم اﻟﺘﻌﺪﯾﻞ ﻣﺸﺎرﯾﻊ اﻟﻘﻄﺎع اﻟﻤﺨﺘﻠﻂ واﻟﻘﻄﺎع‬.5
the Law, including all its paragraphs, and ‫اﻟﺨﺎص اﻟﻘﺎﺋﻤﺔ او اﻟﻌﺎﻣﻠﺔ وﺑﻄﻠﺐ ﻣﻦ ادارﺗﮭﺎ وﻣﻮاﻓﻘﺔ اﻟﮭﯿﺌﺔ‬
replaced it with a new article with more ‫ﻛﻤﺎ ﺷﻤﻠﺖ ﻣﺸﺎرﯾﻊ اﻟﺸﺮاﻛﺔ ﺑﯿﻦ اﻟﻘﻄﺎﻋﯿﻦ‬. ‫دون اﺛﺮ رﺟﻌﻲ‬
precise provisions on disputes arising ‫اﻟﻌﺎم واﻟﺨﺎص ﺑﻤﺎ ﻓﻲ ذﻟﻚ ﻣﺸﺎرﯾﻊ اﻟﻘﻄﺎع اﻟﻌﺎم اﻟﻤﺘﻌﺎﻗﺪ‬
from the Investment Law and the ‫ﻋﻠﻰ ﺗﺄھﯿﻠﮭﺎ او ﺗﺸﻐﯿﻠﮭﺎ او اﻧﺸﺎﺋﮭﺎ ﻣﻊ اﻟﻘﻄﺎع اﻟﺨﺎص‬
jurisdiction of the Iraqi law over ‫واﻟﻤﺨﺘﻠﻂ ﺑﺎﺣﻜﺎم اﻟﻘﺎﻧﻮن ﻗﺒﻞ وﺑﻌﺪ ﻧﻔﺎذ ھﺬا اﻟﻘﺎﻧﻮن ﻋﻠﻰ ان‬
disputes. Article 27/First, as amended, ‫ﻻﯾﺘﺮﺗﺐ ﻋﻠﻰ ذﻟﻚ اﻻﻋﻔﺎء ﻣﻦ اﯾﺔ ﺿﺮاﺋﺐ ورﺳﻮم ﻣﺴﺘﺤﻘﺔ‬
states “disputes arising from the
implementation of this Law shall be .‫ﻋﻠﯿﮭﺎ ﻗﺒﻞ ﻧﻔﺎذه‬
subject to Iraqi law and the jurisdiction
of Iraqi law. An agreement may be
reached with the investor to resort to
(national or international) commercial
arbitration based on an agreement signed
by the two parties according to which
arbitration procedures, venue and the
applicable law shall be specified.”

5. The provisions of the amendments cover
existing and operating projects in both
mixed and private sectors, by a request
from the management and the approval
of the NIC without retroactive effect.
The amendments also cover partnerships
between public and private sectors,
including public sector projects that were
contracted for rehabilitation, operation or
construction with the private and mixed
sectors before and after the
implementation of this Law, provided
that no taxes or fees due before its
implementation shall be exempt.”

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