countries, which withdraw from the ECT, must accord ‘fair and equitable treatment’, ‘constant protection and security’ and ‘shall in no way impair by unreasonable or discriminatory measures the management, maintenance, use enjoyment or disposal of an investment’ .
83
Remarkably, even for
the provisional application of the ECT to signatories, in like manner, a sectional sunset clause extends
for 20 years the validity of the provisions of the ECT for investments already made.
84
78
Eiser Infrastructure Ltd and Energía Solar Luxembourg S.à r.l. v. Kingdom of Spain, ICSID Case No.ARB/13/36, Award, 4
May 2017 [378].
79
Energy Charter Treaty 2080 UNTS 100. ECT 1994, Article 47, paragraph 1 ‘At any time after five years from the date on
which this Treaty has entered into force for a Contracting Party, that Contracting Party may give written notification to
the Depositary of its withdrawal from the Treaty’.
80
Energy Charter Treaty 2080 UNTS 100. ECT 1994, Article 47, paragraph 2 ‘Any such withdrawal shall take effect upon the
expiry of one year after the date of the receipt of the notification by the Depositary, or on such later date as may be
specified in the notification of withdrawal.’
81
Energy Charter Treaty 2080 UNTS 100. ECT 1994, Article 47, paragraph 3 ‘The provisions of this Treaty shall continue to
apply to Investments made in the Area of a Contracting Party by Investors of other Contracting Parties or in the Area of
other Contracting Parties by Investors of that Contracting Party as of the date when that Contracting Party’s withdrawal
from the Treaty takes effect for a period of 20 years from such date.’
82
Travaux Préparatoires of the Energy Charter Treaty, Basic Agreement 4 (31 October 1991) [Article 44].
83
Energy Charter Treaty 2080 UNTS 100. ECT 1994, Article 10.
84
Energy Charter Treaty 2080 UNTS 100. ECT 1994, Article 45(3)(b) ‘In the event that a signatory terminates provisional
application under subparagraph (a), the obligation of the signatory under paragraph (1) to apply Parts III [Investment
Promotion and Protection] and V [Dispute Settlement] with respect to any Investments made in its Area during such
provisional application by Investors of other signatories shall nevertheless remain in effect with respect to those
Investments for twenty years following the effective date of termination’
IPOL | Policy Department for Citizens’ Rights and Constitutional Affairs
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PE 703.592