𝐓𝐡𝐞 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐂𝐞𝐧𝐭𝐫𝐞 𝐟𝐨𝐫 𝐒𝐞𝐭𝐭𝐥𝐞𝐦𝐞𝐧𝐭 𝐨𝐟 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐃𝐢𝐬𝐩𝐮𝐭𝐞𝐬 (𝐈𝐂𝐒𝐈𝐃 𝐨𝐫 𝐭𝐡𝐞 𝐂𝐞𝐧𝐭𝐫𝐞) 𝐂𝐨𝐧𝐯𝐞𝐧𝐭𝐢𝐨𝐧 -
☘️ The International Centre for Settlement of Investment Disputes (ICSID or the Centre) is established by the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention or the Convention).
☘️The Convention was formulated by the Executive Directors of the International Bank for Reconstruction and Development (the World Bank). On March 18, 1965, the Executive Directors submitted the Convention, with an accompanying Report, to member governments of the World Bank for their consideration of the Convention, with a view to its signature and ratification.
☘️The Convention entered into force on October 14, 1966, when it had been ratified by 20 countries. In accordance with the provisions of the Convention, ICSID provides facilities for conciliation and arbitration of investment disputes between Contracting States and nationals of other Contracting States. The provisions of the ICSID Convention are complemented by Regulations and Rules adopted by the Administrative Council of the Centre pursuant to Article 6(1)(a)–(c) of the Convention (the ICSID Regulations and Rules).
☘️The ICSID Regulations and Rules comprise the ICSID Administrative and Financial Regulations; the ICSID Institution Rules; the ICSID Conciliation Rules; and the ICSID Arbitration Rules. The latest amendments of the ICSID Regulations and Rules adopted by the Administrative Council of the Centre came into effect on July 1, 2022.
☘️Reprinted in this booklet are the ICSID Convention, the Report of the Executive Directors of the World Bank on the Convention, and the ICSID Regulations and Rules as amended effective July 1, 2022
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Barrister at Maitland Chambers
6dThanks for the opportunity of speaking, Faser.