Na podlagi druge alinee prvega odstavka 107. člena in prvega odstavka 91. člena Ustave Republike Slovenije izdajam

Razglašam Zakon o ratifikaciji Sporazuma med Vlado Republike Slovenije in Vlado Italijanske republike o pospeševanju in zaščiti naložb s Protokolom (BITPZN), ki ga je sprejel Državni zbor Republike Slovenije na seji 19. julija 2000.

Ratificira se Sporazum med Vlado Republike Slovenije in Vlado Italijanske republike o pospeševanju in zaščiti naložb s Protokolom, podpisan v Rimu 8. marca 2000.

Sporazum s protokolom se v izvirniku v slovenskem in angleškem jeziku glasi:*

Vlada Republike Slovenije in Vlada Italijanske republike (v nadaljevanju pogodbenici) sta se
v želji, da ustvarita ugodne razmere za boljše gospodarsko sodelovanje med državama zlasti v zvezi s kapitalskimi naložbami vlagateljev ene pogodbenice na ozemlju druge pogodbenice,
in
priznavata, da bo pospeševanje in medsebojna zaščita takim naložbam na podlagi mednarodnih sporazumov prispevala k spodbujanju poslovnih podvigov, ki razvijajo blaginjo pogodbenic,
dogovorili, kot sledi:

Za namen tega sporazuma:
1. Izraz “naložba“ pomeni vsako vrsto premoženja, ki ga vlaga fizična ali pravna oseba pogodbenice na ozemlju druge pogodbenice v okviru vseh pravnih oblik in možnosti v skladu z zakoni in predpisi te pogodbenice in vključuje zlasti, vendar ne izključno:
a) premičnine in nepremičnine ter druge stvarne pravice, kot so hipoteka, zaseg in zastava;
b) lastniške deleže, zadolžnice in obveznice ter kakršno koli drugo obliko udeležbe v družbi;
c) denarne terjatve ali zahtevke v zvezi s kakršno koli drugo dejavnostjo, ki ima ekonomsko vrednost v zvezi z naložbo, in ponovno vložen dohodek;
d) pravice intelektualne in industrijske lastnine, kot so avtorske pravice, blagovne znamke, patenti, know-how, poslovne skrivnosti, firme in poslovna vrednost firme;
e) koncesije, vključno s koncesijami za iskanje, raziskovanje in izkoriščanje naravnih virov, ki jih z zakonom, upravnim aktom ali po pogodbi podeljuje pristojni državni organ;
f) vsako povečanje vrednosti prvotne naložbe.
Kakršna koli sprememba oblike naložbe ne pomeni spremembe narave naložbe.
2. Izraz “vlagatelj“ pomeni vsako fizično ali pravno osebo pogodbenice, ki vlaga na ozemlju druge pogodbenice.
a) Izraz “fizična oseba“ za eno ali drugo pogodbenico pomeni vsako fizično osebo, ki ima državljanstvo te države v skladu z njenimi zakoni in predpisi.
b) Izraz “pravna oseba“ za eno ali drugo pogodbenico pomeni vsak subjekt s sedežem na ozemlju ene od pogodbenic, ki ga je tudi priznala, kot so javne ustanove, korporacije, partnerstva, fundacije in združenja, ne glede to, ali je njihova odgovornost omejena ali ne.
c) Izraz “pravna oseba“ za eno ali drugo pogodbenico pomeni pravne osebe (npr. tuje hčerinske družbe, podružnice in filiale), ki niso ustanovljene po pravu te pogodbenice, vendar so pod neposrednim ali posrednim nadzorom fizičnih oseb, kot so opredeljene v točki a), ali pravnih oseb, kot so opredeljene v točki b).
3. Izraz “dohodek“ pomeni denar, ki ga prinaša naložba, zlasti vključno z dobički, obrestmi, kapitalskimi dobički, dividendami, licenčninami, nadomestili za upravljanje in tehnično pomoč ali drugimi prispevki in nedenarnimi plačili.
4. Izraz “ozemlje“ pomeni:
a) za Republiko Slovenijo ozemlje pod njeno suverenostjo vštevši zračni prostor in morska območja, nad katerimi Republika Slovenija izvaja suverenost ali jurisdikcijo v skladu z notranjim in mednarodnim pravom;
b) za Italijansko republiko poleg območij, obdanih z mejami na kopnem, “obmorska območja“. Slednje obsega tudi morska in podvodna območja, na katerih Italijanska republika izvaja suverenost in suverene pravice ali jurisdikcijo po mednarodnem pravu.
5. “Naložbeni sporazum“ pomeni sporazum o naložbi med pogodbenico (ali njenimi agencijami ali ustanovami) in vlagateljem druge pogodbenice.
6. “Pravica dostopa“ pomeni pravico, ki dovoljuje izvedbo naložbe na ozemlju druge pogodbenice v skladu z njenimi zakoni in predpisi.

1. Vsaka pogodbenica na svojem ozemlju pospešuje in spodbuja naložbe vlagateljev druge pogodbenice in dovoljuje take naložbe v skladu s svojimi zakoni in predpisi.
2. Vlagatelji ene od pogodbenic imajo pravico dostopa do naložbenih dejavnosti na ozemlju druge pogodbenice, ki ni manj ugodna od tiste, priznane v skladu s prvim odstavkom 3. člena.
3. Naložbe vlagateljev ene ali druge pogodbenice uživajo polno zaščito in varnost na ozemlju druge pogodbenice. Nobena pogodbenica na svojem ozemlju ne sprejema neupravičenih, samovoljnih ali diskriminacijskih ukrepov, s katerimi bi kakor koli škodovala upravljanju, vzdrževanju, uporabi, uživanju naložb vlagateljev druge pogodbenice ali razpolaganju z njimi.

1. Vsaka pogodbenica na svojem ozemlju vlagateljem in naložbam, ki jih izvedejo vlagatelji druge pogodbenice, in dohodku, ki jim ga prinašajo, zagotavlja obravnavo, ki ni manj ugodna od tiste, ki se priznava naložbam in dohodkom v zvezi z naložbami, ki jih izvedejo njeni državljani ali vlagatelji tretjih držav.
2. Določbe tega člena se ne nanašajo na ugodnosti in privilegije, ki jih ena pogodbenica lahko podeli vlagateljem tretjih držav na podlagi njihovega članstva v carinski ali gospodarski uniji, skupnem trgu, prostem trgovinskem območju, regionalnem ali podregionalnem sporazumu, mednarodnem večstranskem gospodarskem sporazumu ali po sporazumih, sklenjenih za preprečevanje dvojnega obdavčenja ali pospeševanje čezmejne trgovine.
3. Vsaka pogodbenica zagotavlja pošteno in pravično obravnavo naložb vlagateljev druge pogodbenice.

Če pri naložbah vlagateljev ene pogodbenice na ozemlju druge pogodbenice nastane izguba ali škoda zaradi vojne, drugih oblik oboroženega spopada, izrednega stanja, državljanske vojne ali drugih podobnih dogodkov, pogodbenica, v kateri je bila naložba izvedena, ponudi ustrezno nadomestilo v zvezi s takšno izgubo ali škodo ne glede na to, ali so takšno izgubo ali škodo povzročile vladne sile ali drugi subjekti. Plačila odškodnin so prosto prenosljiva brez neupravičenega odlašanja.
Zadevni vlagatelji so deležni enake obravnave kot državljani druge pogodbenice in vsekakor nič manj ugodne kot vlagatelji tretjih držav.

1. Naložbe vlagateljev ene ali druge pogodbenice se ne smejo nacionalizirati, razlastiti ali se v zvezi z njimi sprejemati ukrepi, ki imajo enak učinek kot nacionalizacija (v nadaljevanju “razlastitev“) na ozemlju druge pogodbenice, razen v javnem interesu. Razlastitev se izvede v skladu z zakonskim postopkom na nediskriminacijski podlagi proti ustrezni odškodnini, ki se plača brez neupravičenega odlašanja. Taka odškodnina je enaka tržni vrednosti razlaščene naložbe tik pred razlastitvijo ali preden je javnost obveščena o nameravani razlastitvi, kar se zgodi preje (v nadaljevanju “dan določitve vrednosti“).
Odškodnina se izračuna v prosto zamenljivi valuti po veljavnem menjalnem tečaju na “dan določitve vrednosti“.
2. Če je predmet nacionalizacije ali razlastitve mešano podjetje, ustanovljeno na ozemlju ene od pogodbenic, se odškodnino, ki se plača vlagatelju druge pogodbenice, izračuna ob upoštevanju deleža tega vlagatelja v mešanem podjetju na podlagi listin, ki izkazujejo njegovo udeležbo v družbi.
Odškodnina se šteje za pošteno in pravično, če se plača v valuti, v kateri je tuji vlagatelj izvedel naložbo, ali kateri koli drugi valuti, ki je sprejemljiva za vlagatelja.
Odškodnina se plača brez neupravičenega odlašanja najkasneje v treh mesecih od dneva sprejetja odločitve o njeni vrednosti.
Odškodnina vključuje obresti, izračunane na podlagi šestmesečne medbančne obrestne mere LIBOR od dneva nacionalizacije ali razlastitve do dneva izvedbe plačila.
3. Razlaščeni vlagatelj ima pravico po zakonih in predpisih pogodbenice, ki izvede razlastitev, da njegov primer takoj pregleda sodni ali drug neodvisni organ te pogodbenice in da se njegove naložbe ovrednotijo v skladu z načeli, navedenimi v tem členu.
4. Če se vlagatelj in pogodbenica ali njeno pristojno telo ne sporazumeta, se višina odškodnine določi v skladu s postopkom za reševanje sporov v skladu z 9. členom sporazuma.
Odškodnina je prosto prenosljiva.
5. Če se v celoti ali delno razlaščeno premoženje ne uporablja za predvideni namen, v javnem interesu v skladu z odločitvijo o razlastitvi na zakonski podlagi, je razlaščenemu lastniku in njegovemu pooblaščencu dovoljeno odkupiti to premoženje po tržni vrednosti v skladu z zakoni in predpisi pogodbenice, kjer je bila razlastitev izvedena.

1. Vsaka pogodbenica vlagateljem druge pogodbenice jamči prost prenos sredstev v zvezi z njihovimi naložbami in še zlasti, vendar ne izključno:
a) kapitala in dodatnega kapitala, vključno s ponovno vloženim dohodkom, s katerim se vzdržuje in poveča naložba;
b) dohodkov, kot so opredeljeni v členu 1 (3);
c) dohodka od celotne ali delne prodaje ali celotne ali delne likvidacije naložbe;
d) sredstev za odplačilo posojil v zvezi z naložbo in plačil s tem povezanih obresti;
e) prejemkov in nadomestil, ki se plačajo državljanom druge pogodbenice iz dela in storitev, opravljenih v zvezi z naložbo, ki se izvede na ozemlju druge pogodbenice, v višini in na način, kot to predpisujejo notranja zakonodaja in predpisi.
2. Prenos iz tega člena se opravi brez neupravičenega odlašanja v kateri koli prosto zamenljivi valuti.

Če pogodbenica ali agencija, ki jo pogodbenica imenuje, opravi plačilo svojemu vlagatelju na podlagi jamstva, danega v zvezi z naložbo na ozemlju druge pogodbenice, druga pogodbenica prizna prenos vseh pravic in terjatev vlagatelja na prvo pogodbenico.
Prenesena pravica ali terjatev ni večja od prvotne pravice ali terjatve vlagatelja.

1. Prenosi iz 4., 5., 6. in 7. člena se izvedejo v prosto zamenljivi valuti brez neupravičenega odlašanja in vsekakor v treh mesecih po izpolnitvi vseh davčnih obveznosti. Vsi prenosi se opravijo po veljavnem menjalnem tečaju na dan, ko vlagatelj zaprosi za zadevni prenos, z izjemo prvega odstavka 5. člena, ki določa menjalni tečaj, ki se uporabi v primeru nacionalizacije ali razlastitve ali ukrepa z enakim učinkom kot nacionalizacija.
2. Davčne obveznosti po prejšnjem odstavku se štejejo za izpolnjene, ko je vlagatelj dokončal postopke, določene z zakonom pogodbenice, na ozemlju katere je bila naložba izvedena.

1. Spor med eno od pogodbenic in vlagatelji druge pogodbenice v zvezi z naložbami, vključno s spori v zvezi z višino odškodnine, se, če je to le mogoče, rešujejo po mirni poti.
2. Če je naložbeni sporazum dogovorjen v skladu s petim odstavkom 1. člena, se uporablja postopek, predviden v takšnem naložbenem sporazumu.
3. Če takega spora ni mogoče rešiti po mirni poti v šestih mesecih od dneva pisne zahteve za poravnavo, lahko vlagatelj po svoji izbiri predloži spor v poravnavo:
a) pristojnemu sodišču pogodbenice;
b) ad hoc arbitražnemu sodišču v skladu z arbitražnimi pravili Komisije Združenih narodov za mednarodno trgovinsko pravo (UNCITRAL); in pogodbenica gostiteljica se zavezuje, da bo sprejela sklicevanje na omenjeno arbitražo;
c) za izvedbo arbitražnega postopka Mednarodnemu centru za reševanje investicijskih sporov (ICSID), ustanovljenem po Konvenciji o reševanju investicijskih sporov med državami in državljani drugih držav, ki je bila dana na voljo za podpis v Washingtonu D.C. 18. marca 1965.
4. Vsaka pogodbenica se vzdrži pogajanj po diplomatski poti o kateri koli zadevi v zvezi z arbitražnimi ali sodnimi postopki, ki so v teku, dokler ti postopki niso dokončani in če ena od pogodbenic ne spoštuje razsodbe arbitražnega sodišča ali pristojnega sodišča v roku, predvidenem v razsodbi, ali v roku, ki se lahko določi na podlagi določb mednarodnega ali notranjega prava, ki se uporabijo za ta primer.

1. Spor med pogodbenicama v zvezi z razlago in uporabo tega sporazuma se, če je to mogoče, reši po mirni in diplomatski poti.
2. Če spora ni mogoče rešiti v šestih mesecih od dneva, ko ena od pogodbenic uradno pisno obvesti drugo pogodbenico, se spor na zahtevo ene od pogodbenic predloži ad hoc arbitražnemu sodišču, kot to določa ta člen.
3. Arbitražno sodišče se sestavi na naslednji način: v dveh mesecih od dneva prejema zahteve za arbitražo vsaka pogodbenica imenuje enega člana arbitražnega sodišča. Ta dva člana nato izbereta državljana tretje države, ki se po odobritvi pogodbenic imenuje za predsednika razsodišča. Predsednik se imenuje v treh mesecih od dneva imenovanja drugih dveh članov.
4. Če imenovanja niso bila opravljena v roku iz tretjega odstavka tega člena, lahko ena od pogodbenic, če ni dogovorjeno drugače, zaprosi predsednika Meddržavnega sodišča, da opravi imenovanje. Če je predsednik sodišča državljan ene pogodbenice ali iz kakršnega koli razloga ne more opraviti te naloge, opravi imenovanje podpredsednik sodišča. Če je podpredsednik sodišča državljan ene od pogodbenic ali iz kakršnega koli razloga ne more opraviti imenovanja, se povabi po funkciji naslednji najstarejši član Meddržavnega sodišča, ki ni državljan ene ali druge pogodbenice, da opravi imenovanja.
5. Arbitražno sodišče odloča z večino glasov in njegove odločitve so dokončne in zavezujoče. Vsaka pogodbenica krije stroške svojega člana in svojih predstavnikov v arbitražnem postopku. Stroški predsednika in kakršni koli drugi stroški se enakopravno razdelijo med pogodbenicama. Arbitražno sodišče samo sestavi svoj poslovnik.

Določbe tega sporazuma se uporabljajo ne glede na to, ali imata pogodbenici diplomatske ali konzularne odnose.

1. Če je določena zadeva urejena s tem sporazumom in z drugim mednarodnim sporazumom, katerega podpisnici sta obe pogodbenici, ali s splošnimi načeli mednarodnega prava, se za pogodbenici in njune vlagatelje uporabljajo najugodnejše določbe.
2. Kadar koli je obravnava, ki jo ena pogodbenica prizna vlagateljem druge pogodbenice v skladu z njenimi zakoni in predpisi ali drugimi določbami ali posebno pogodbo ali odobritvijo naložbe ali sporazumom, ugodnejša od tiste, ki se zagotovi po tem sporazumu, se uporabi najugodnejša obravnava.
3. Kadar koli naj bi po dnevu izvedbe naložbe prišlo do spremembe v zakonodaji pogodbenice, na katere ozemlju je bila naložba izvedena, to ne vpliva na pravice vlagatelja, pridobljene po prejšnji zakonodaji.

Ta sporazum se uporablja za vse obstoječe naložbe vlagateljev ene pogodbenice na ozemlju druge pogodbenice.

1. Ta sporazum velja od dneva prejema zadnjega od dveh pisnih uradnih obvestil, s katerima pogodbenici uradno obvestita druga drugo, da so dokončani njuni ratifikacijski postopki. Vsaka sprememba tega sporazuma, o kateri sta se pogodbenici pisno sporazumeli, začne veljati pod istimi pogoji kot ta sporazum.
2. Ta sporazum velja 10 let in ostane v veljavi vsakih nadaljnjih 5 let, če se ena ali druga pogodbenica najkasneje eno leto pred dnem prenehanja veljavnosti ne odloči, da ga odpove.
3. Za naložbe, izvedene pred dnevom odpovedi tega sporazuma, določbe členov od 1 do 13 veljajo še nadaljnjih deset (10) let od dneva odpovedi tega sporazuma.
DA BI TO POTRDILA, sta podpisana predstavnika, ki sta ju njuni vladi za to pravilno pooblastili, podpisala ta sporazum.
SESTAVLJENO V Rimu dne 8. marca 2000 v dveh izvirnikih v slovenskem, italijanskem in angleškem jeziku, pri čemer je vsako besedilo enako verodostojno. Ob razlikah pri razlagi prevlada angleško besedilo.

Pogodbenici sta se tudi dogovorili o naslednjih določbah, ki so sestavni del Sporazuma.
1. V zvezi z 2. členom
a) Vsaka pogodbenica bo zagotovila učinkovita sredstva za uveljavljanje terjatev in pravic v zvezi z naložbo in naložbenim sporazumom.
b) V skladu s svojimi zakoni in določbami bo vsaka pogodbenica čim ugodneje urejala vprašanja, povezana z vstopom, bivanjem in gibanjem državljanov ene pogodbenice, ki prevzamejo dejavnosti v zvezi z naložbami na ozemlju druge pogodbenice, in njihovih družinskih članov.
c) Pravnim osebam, ustanovljenim v skladu z ustreznimi zakoni in predpisi ene pogodbenice, je dovoljeno zaposliti vodilne delavce po svoji izbiri v skladu z zakonodajo pogodbenice gostiteljice ne glede na njihovo državljanstvo.
2. V zvezi s 3. členom
a) Določbe tega sporazuma se bodo uporabljale tudi za vse dejavnosti, povezane z naložbami. Te dejavnosti zajemajo zlasti, vendar ne izključno: organizacijo, nadzor, poslovanje, vzdrževanje družb, filial, agencij, uradov, tovarn ali drugih razpoložljivih oblik za opravljanje dejavnosti ter razpolaganje z njimi; pridobitev, uporabo, zaščito premoženja vseh vrst, vključno z intelektualno lastnino, in razpolaganje z njim; izposojanjem sredstev; nakupom, izdajo in prodajo lastniških delnic in drugih vrednostnih papirjev; nakup tuje valute za uvoz.
b) Vsem dejavnostim, povezanim z nabavo, prodajo in prevozom surovin in polizdelkov, energije, goriv in proizvodnih sredstev ter druge vrste poslov v zvezi z navedenimi dejavnostmi ali naložbenimi dejavnostmi po tem sporazumu na ozemlju vsake pogodbenice, se zagotovi obravnava, ki ni nič manj ugodna od tiste, priznane podobnim dejavnostim in pobudam svojih vlagateljev ali vlagateljev tretjih držav.
3. V zvezi s 5. členom
Vsak ukrep razlastitve ali nacionalizacije, ki se de facto sprejme v javnem interesu in zaradi katerega nastane znatna izguba pri naložbi, se obravnava kot eden od ukrepov iz prvega odstavka 5. člena.
4. V zvezi z 9. členom
Po točki (b) tretjega odstavka 9. člena se arbitraža izvede v skladu z arbitražnimi standardi Komisije Združenih narodov za mednarodno trgovinsko pravo (UNCITRAL) in v skladu s temi določbami:
a) Arbitražno sodišče sestavljajo trije razsodniki; če niso državljani ene ali druge pogodbenice, so državljani države, ki ima s pogodbenicama diplomatske odnose.
Po potrebi razsodnike na podlagi UNCITRAL-ovih Pravil imenuje Predsednik Arbitražnega organa stockholmske zbornice kot pristojen za imenovanje. Arbitraža poteka v Stockholmu, če se pogodbenici ne dogovorita drugače.
b) Pri sprejemanju svoje odločitve arbitražno sodišče uporablja določbe tega sporazuma, splošna načela mednarodnega prava in druge sporazume, ki jih pogodbenici izvajata.
Priznanje in izvedbo arbitražne odločitve na ozemlju pogodbenic ureja njuna notranja zakonodaja v skladu z ustreznimi mednarodnimi konvencijami, katerih pogodbenici sta.
5. V zvezi s 13. členom
Vlagatelji iz točke (c) drugega odstavka 1. člena ne morejo vložiti zahtevka na podlagi tega Sporazuma, če se v zvezi z isto zadevo sklicuje na določbe drugega sporazuma o pospeševanju in zaščiti naložb.
DA BI TO POTRDILA, sta podpisana predstavnika, ki sta ju njuni vladi za to pravilno pooblastili, podpisala ta protokol.
SESTAVLJENO V Rimu dne 8. marca 2000 v dveh izvirnikih v slovenskem, italijanskem in angleškem jeziku, pri čemer je vsako besedilo enako verodostojno. Ob razlikah pri razlagi prevlada angleško besedilo.

The Government of the Republic of Slovenia and the Government of the Italian Republic (hereafter referred to as the Contracting Parties),
Desiring to establish favourable conditions for improved economic cooperation between the two Countries, and especially in relation to capital investment by investors of one Contracting Party in the territory of the other Contracting Party;
and
acknowledging that offering encouragement and mutual protection to such investment, based on international Agreements, will contribute to stimulating business ventures, which foster the prosperity of both Contracting Parties,
Hereby have agreed as follows:

For the purposes of this Agreement:
l. The term “investment“ shall be construed to mean any kind of property invested by a natural or legal person of a Contracting Party in the territory of the other Contracting Party, within all legal forms and legal possibilities, in conformity with the laws and regulations of that Contracting Party and shall include in particular, but not exclusively:
a) movable and immovable property and any other right in rem, such as mortgages, liens and pledges;
b) shares, bonds and debentures and any other form of participation in a company;
c) claims to money or any other performance having an economic value connected with an investment, as well as reinvested income;
d) intellectual and industrial property rights such as copyrights, trade marks, patents, know-how, trade secrets, trade names and goodwill;
e) concessions conferred by a competent State Authority, by law, by an administrative act or under a contract, including concessions for prospecting, research and exploitation of natural resources;
f) any increase in value of the original investment.
Any modification in the form of the investment does not imply a change in the nature thereof.
2. The term “investor“ shall be construed to mean any natural or legal person of a Contacting Party investing in the territory of the other Contracting Party.
a) The term “natural person“, in reference to either Contracting Party, shall be construed to mean any natural person having nationality of that State in accordance with its laws and regulations.
b) The term “legal person“, in reference to either Contracting Party, shall be construed to mean any entity having its head office in the territory of one of the Contracting Parties and recognized by it, such as public institutions, corporations, partnerships, foundations and associations, regardless of whether their liability is limited or not.
c) The term “legal person“, in reference to either Contracting Party, shall be construed to mean also legal persons (e.g. the foreign subsidiaries, affiliates and branches) not constituted under the law of that Contracting Party but controlled directly or indirectly by natural persons as defined in a) or by legal persons as defined in b) above.
3. The term “income“ shall be construed to mean the money occurring from an investment, including in particular profits, interests, capital gains, dividends, royalties payments, management and technical assistance compensation or other fees and payments in kind.
4. The term “national territory“ means:
a) with respect to the Republic of Slovenia, the territory under its sovereignty, including air space and maritime areas, over which the Republic of Slovenia exercises its sovereignty or jurisdiction, in accordance with internal and international law;
b) with respect of the Italian Republic in addition to the zones contained within the land boundaries, the “maritime zones“. The latter also comprises the marine and submarine zones over which the Italian Republic exercises sovereignty and sovereign or jurisdictional rights under international law.
5. “Investment agreement“ means an agreement between a Contracting Party (or its agencies or institutions) and an investor of the other Contracting Party concerning an investment.
6. “Right of access“ means the right to be admitted to carry out investment in the territory of the other Contracting Party in accordance with its laws and regulations.

1. Each Contracting Party shall promote and encourage within its territory investments made by investors of the other Contracting Party and shall admit such investments into its territory in accordance with its laws and regulations.
2. Investors of one of the Contracting Parties shall have the right of access to the investment activities, in the territory of the other Contracting Party, not less favourable than the one granted in accordance to Article 3 (l).
3. Investments made by investors of either Contracting Party shall enjoy full protection and security in the territory of the other Contracting Party. Neither Contracting Party shall in any way impair by unreasonable, arbitrary or discriminatory measures the management, maintenance, use, enjoyment or disposal of investments in its territory of investors of the other Contracting Party.

1. Each Contracting Party shall, within its own territory, accord to investors and to investments effected by, and the income occurring to, investors of the other Contracting Party, no less favourable treatment than that accorded to investments effected by, and income occurring to, its own nationals or investors of Third States.
2. The provisions of this Article do not refer to the advantages and privileges which one Contracting Party may grant to investors of Third States by virtue of their membership of a Customs or Economic Union, of a Common Market, of a Free Trade Area, of a regional or subregional Agreement, of an International multilateral economic Agreement or under Agreements signed in order to prevent double taxation or to facilitate cross border trade.
3. Each Contracting Party shall accord at all times fair and equitable treatment to investments of investors of the other Contracting Party.

If investors of one Contracting Party incur losses or damages on their investments in the territory of the other Contracting Party due to war, other forms of armed conflict, a state of emergency, civil strife or other similar events, the Contracting Party in which the investment has been effected shall offer adequate compensation in respect of such losses or damages, irrespective whether such losses or damages have been caused by governmental forces or other subjects. Compensation payments shall be freely transferable without undue delay.
The investors shall receive the same treatment as the nationals of the other Contracting Party concerned, and, at all events, no less favourable than that of the investors of Third States.

1. Investments of investors of either Contracting Party shall not be nationalized, expropriated or subjected to measures having effect equivalent to nationalization (hereinafter referred to as “expropriation“) in the territory of the Contracting Party, except in the public interest. The expropriation shall be carried out under due process of law, on a non-discriminatory basis, against adequate compensation which shall be effected without undue delay. Such compensation shall amount to the market value of the investment expropriated immediately before the expropriation or before the impending expropriation became public knowledge, whichever is earlier (hereinafter referred to as the “valuation date“).
Compensation shall be calculated in a convertible currency at the prevailing exchange rate existing on the “valuation date“.
2. In case that the object of nationalization or expropriation is a joint-venture constituted in the territory of one of the Contracting Parties, the compensation to be paid to the investor of the other Contracting Party shall be calculated taking into account the share of such investor in the joint-venture, in accordance with main documents referring to its participation in the company.
Compensation shall be considered just and fair if it is paid in the currency in which a foreign investor realized the investment, or in any other currency accepted by the investor.
Compensation shall be made without undue delay, within the term not longer than 3 months from the date, on which the decision about its value, was made.
Compensation shall include interest calculated on the six months LIBOR basis, from the date of nationalization or expropriation till the date of payment effected.
3. The investor affected shall have a right, under the laws and regulations of the Contracting Party making the expropriation, to prompt review of his or its case by a judicial or other independent authority of that Contracting Party and to the evaluation of his or its investments in accordance with the principles set out in this Article.
4. If the investor and the Contracting Party or its competent body, cannot reach an agreement, the amount of compensation shall be determined according to procedure for settlement of disputes according to Article 9 of the Agreement.
Compensation shall be freely transferable.
5. If the expropriated property, either completely or partially, does not serve the anticipated purpose in public interest, according to decision on expropriation based on law, the expropriated owner and his or its assignee are allowed to buy back that property at the market value, according to the laws and regulations of the Contracting Party where the expropriation has been made.

1. Each Contracting Party shall guarantee investors of the other Contracting Party the free transfer of funds related to their investments and in particular, but not exclusively:
a) capital and additional capital, including reinvested income, used to maintain and increase an investment;
b) incomes as defined in Article 1 (3);
c) income deriving from the total or partial sale or the total or partial liquidation of an investment;
d) funds to repay loans connected to an investment and the payment of the related interests;
e) remuneration and allowances paid to nationals of the other Contracting Party from work and services performed in relation to an investment effected in the territory of the other Contracting Party, in the amount and manner prescribed by the national legislation and regulations.
2. The transfer referred to in this Article shall be made without undue delay and in any convertible currency.

If a Contracting Party or its designated agency makes a payment to its investor under a guarantee given in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize the assignment to the first Contracting Party of all rights and claims of the investor. The subrogated right or claim shall not be greater than the original right or claim of the investor.

1. The transfers referred to in Article 4, 5, 6 and 7 shall be effected without undue delay and, at all events, within three months after all tax obligations have been met, and shall be made in a convertible currency. All the transfers shall be made at the prevailing exchange rate applicable on the date on which the investor applies for the related transfer, with the exception of the provisions under Paragraph 1 of Article 5 concerning the exchange rate applicable in case of nationalization or expropriation or measure having effect equivalent to nationalization.
2. The tax obligations under the previous paragraph are deemed to be complied with when the investor has fulfilled the proceedings provided for by the law of the Contracting Party on the territory of which the investment has been carried out.

1. Any dispute which may arise between one of the Contracting Parties and the investors of the other Contracting Party on investments, including disputes relating to the amount of compensation, shall be settled amicably, as far as possible.
2. In case an investment agreement is stipulated according to Article 1 (5) the procedure foreseen in such investment agreement shall apply.
3. In the event that such dispute cannot be settled amicably within six months of the date of the written application for settlement, the investor may submit at his choice the dispute for settlement to:
a) the competent court of the Contracting Party;
b) an ad hoc Arbitral Tribunal, in compliance with the arbitration rules of the UN Commission on the International Trade Law (UNCITRAL); and the host Contracting Party undertakes hereby to accept the reference to said arbitration;
c) the International Center for the Settlement of Investments Disputes (ICSID), for the implementation of the arbitration procedure established under the Convention in the Settlement of Investments Disputes between States and Nationals of other States, opened for signature in Washington D.C., on March 18, 1965.
4. Each Contracting Party shall refrain from negotiating through diplomatic channels any matter relating to an arbitration procedure or judicial procedures underway until these procedures have been completed, and one of the Contracting Parties has failed to comply with the ruling of the Arbitral Tribunal or the Court of Law within the period envisaged by the ruling, or else within the period which can be determined on the basis of the international or domestic law provisions which can be applied to the case.

1. Any dispute which may arise between the Contracting Parties relating to the interpretation and application of this Agreement shall, as far as possible, be settled amicably through diplomatic channels.
2. In the event that the dispute cannot be settled within six months of the date on which one of the Contracting Parties notifies, in writing, the other Contracting Party, the dispute, at the request of one of the Contracting Parties, shall be submitted to an ad hoc Arbitral Tribunal as provided in this Article.
3. The Arbitral Tribunal shall be constituted in the following manner: within two months from the date on which the request for arbitration is received, each Contracting Party shall appoint a member of the Arbitral Tribunal. Those two members shall then select a national of a third State who, on approval by the Contracting Parties, shall be appointed President of the Tribunal. The President shall be appointed within three months of the date on which the other two members are appointed.
4. If, within the period specified in paragraph 3. of this Article, the appointments have not been made, each of the two Contracting Parties can, in default of other arrangement, ask the President of the International Court of Justice to make the appointment. In the event that the President of the Court is a national of one Contracting Party, or if he is otherwise prevented from discharging the said function; the application shall be made to the Vice President of the Court. If the Vice-President of the Court is a national of one of the Contracting Parties, or is unable to make the appointment for any reason, the most senior member of the International Court of Justice, who is not a national of either Contracting Party, shall be invited to make the appointment.
5. The Arbitral Tribunal shall rule with a majority vote, and its decisions shall be final and binding. Each Contracting Party shall pay the costs of their own members and of their representation in the arbitral proceedings. The President’s costs and any other costs shall be divided equally between the Contracting Parties. The Arbitral Tribunal shall establish its own rules of procedures.

The provisions of this Agreement shall be applied irrespective of whether or not the Contracting Parties have diplomatic or consular relations.

l. If a matter is governed both by this Agreement and by another International Agreement to which both Contracting Parties are signatories, or by general principles of the international law, the most favourable provisions shall be applied to the Contracting Parties and to their investors.
2. Whenever the treatment accorded by one Contracting Party to the investors of the other Contracting Party, according to its laws and regulations or other provisions or specific contract or investment authorizations or agreement, is more favourable than that provided under this agreement, the most favourable treatment shall apply.
3. Whenever, after the date when the investment has been made, a modification should take place in the legislation of the Party on whose territory the investment has been carried out, acquired rights of the investor under previous legislation will not be affected.

This Agreement shall apply to all existing investments made by investors from one Contracting Party in the territory of the other Contracting Party.

1. This Agreement shall enter into force as from the receiving date of the last of the two written notifications with which the Contracting Parties shall communicate officially to each other that their respective ratification procedures have been fulfilled. Any modification of this Agreement on which both Contracting Parties have agreed in written form, shall enter into force under the same conditions of this Agreement.
2. This Agreement shall remain effective for a period of 10 years and shall remain in force for further periods of 5 years thereafter, unless either of the two Contracting Parties decides to denounce it not later than one year before its expiry date.
3. In respect of investment made prior to the date of denouncement of this Agreement the provisions of Articles 1 to 13 shall remain in force for a further period of ten (10) years from the date of denouncement of this Agreement.
In WITNESS WHEREOF, the undersigned Representatives, being duly authorized thereto by their respective Governments, have signed the present Agreement.
DONE AT Rome, this 8th day of March 2000 in two originals, in Slovenian, Italian and English languages, each text being equally authentic. In case of any divergence of interpretation the English text shall prevail.

The Contracting Parties also agreed to the following clauses, which form an integral part of the Agreement.
1. With reference to Article 2
a) Each Contracting Party will provide effective means for enforcing claims and rights with respect to investment and with investment agreement.
b) In accordance with its own laws and provisions, each Contracting Party, as favourably as possible will regulate questions concerning entrance, stay and movement of nationals of one Contracting Party, undertaking activities in connection with the investments in the territory of the other Contracting Party and members of their families.
c) Legal entities, constituted in accordance with the applicable laws and regulations of one Contracting Party, shall be permitted to engage top managerial personnel of their choice, regardless of nationality, in accordance with the legislation of the host Contracting Party.
2. With reference to Article 3
a) Provisions of this Agreement will be applied also to all activities in connection with investments. These activities comprise particularly, but not exclusively: organization, control, operation, maintenance and disposition of companies, branches, agencies, offices, factories or other facilities for conduct of business; acquisition, use, protection and disposition of property of all kinds, including intellectual property; borrowing of funds; purchase, issuance and sale of equity shares and other securities; and purchase of foreign exchange for imports.
b) All activities relating to the procurement, sale and transport of raw and processed materials, energy, fuels and means for production, as well as other kinds of operation related to the stated activities or with investment activities under this Agreement, on the territory of each Contracting Party, shall be accorded no less favourable treatment than that accorded to similar activities and initiatives taken by own investors or investors of Third Countries.
3. With reference to Article 5
Any measure of expropriation or nationalization de facto undertaken in public interest, creating a remarkable loss to the investment, will be treated as one of the measures stated in Article 5 (1).
4. With reference to Article 9
Under Article 9 (3) (b), arbitration shall be conducted in accordance with the arbitration standards of the United Nations Commission on International Trade Law (UNCITRAL) as well as in accordance with the following provisions:
a) The Arbitral Tribunal shall be composed of three arbitrators; if they are not nationals of either Contracting Party, they shall be nationals of the State having diplomatic relations with both Contracting Parties.
The appointment of the arbitrators, when necessary, pursuant to the UNCITRAL Rules, shall be done by the President of the Arbitration Institute of the Stockholm Chamber, in his capacity as appointing authority. The arbitration will take place in Stockholm, unless the two Contracting Parties have agreed otherwise.
b) When delivering its decision, the Arbitral Tribunal shall apply provisions of this Agreement, general principles of the international law, as well as other agreements implemented by both Contracting Parties.
The recognition and implementation of the arbitration decision in the territory of both Contracting Parties shall be governed by their respective national legislation, in compliance with the relevant International Conventions they are parties to.
5. With reference to Article 13
Investors referred to in Article 1 (2) (c) may not raise a claim based on this Agreement if, with respect to the same matter, the provisions of another investment protection and promotion agreement have been invoked.
IN WITNESS WHEREOF, the undersigned Representatives, being duly authorized thereto by their respective Governments, have signed the present Protocol.
DONE AT Rome, this 8th day of March 2000 in two originals, in Slovenian, Italian and English languages, each text being equally authentic. In case of any divergence of interpretation the English text shall prevail.

Za izvajanje sporazuma s protokolom skrbi Ministrstvo za ekonomske odnose in razvoj.

Ta zakon začne veljati naslednji dan po objavi v Uradnem listu Republike Slovenije – Mednarodne pogodbe.

* Besedilo sporazuma v italijanskem jeziku je na vpogled v Sektorju za mednarodne pravne zadeve Ministrstva za zunanje zadeve Republike Slovenije.