Assented to 2008-03-13
An Act to implement the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention)
This enactment implements the Convention on the Settlement of Investment Disputes between States and Nationals of Other States, opened for signature in Washington on March 18, 1965.
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
Marginal note:Short title
1. This Act may be cited as the Settlement of International Investment Disputes Act.
2. The following definitions apply in this Act.
« sentence »
“award” means an award rendered by the arbitral tribunal established under article 37 of the Convention and an interpretation, revision or annulment, if any, of the award under the Convention.
« Convention »
“Convention” means the Convention on the Settlement of Investment Disputes between States and Nationals of Other States, the text of which is set out in the schedule.
Marginal note:Interpretation if inconsistency
3. Despite section 5 of the United Nations Foreign Arbitral Awards Convention Act, in the event of an inconsistency between that Act — or the Commercial Arbitration Act — and this Act or the Convention, this Act or the Convention, as the case may be, prevails to the extent of the inconsistency.
4. This Act applies to awards rendered, arbitration agreements entered into and conciliation proceedings commenced under the Convention before or after the coming into force of this Act.
Marginal note:Capacity, privileges and immunities of the Centre
5. (1) The International Centre for Settlement of Investment Disputes established under the Convention has the capacity of a natural person and the privileges and immunities set out in articles 19, 20 and 23 and paragraph (1) of article 24 of the Convention.
Marginal note:Privileges and immunities — individuals
(2) A person referred to in article 21 or 22 or paragraph (3) of article 24 of the Convention has the privileges and immunities set out in that article or paragraph, as the case may be.
Marginal note:Non-taxation of foreign nationals
(3) A person referred to in paragraph (2) of article 24 of the Convention who is neither a Canadian citizen nor a permanent resident within the meaning of subsection 2(1) of the Immigration and Refugee Protection Act has the privileges and immunities set out in that paragraph.
Marginal note:Certificate of Minister of Foreign Affairs
(4) A certificate purporting to be issued by or under the authority of the Minister of Foreign Affairs and containing a statement of fact relevant to whether a person has privileges or immunities under this Act is to be received in evidence in any proceeding as proof of the fact stated in the certificate without proof of the signature or official character of the person appearing to have signed it.
Marginal note:Binding on Her Majesty
6. This Act is binding on Her Majesty in right of Canada.
7. An award is not subject to a remedy except as set out in the Convention.
Marginal note:Jurisdiction of superior court
8. (1) A superior court may recognize and enforce an award.
Marginal note:Recognition and enforcement of awards
(2) The court shall on application recognize and enforce an award as if it were a final judgment of that court.
Marginal note:Stay of enforcement
(3) If the enforcement of an award is stayed under the Convention, the court shall on application stay the enforcement of the award.
Marginal note:Arbitration — exclusion of other remedies
9. Unless the parties to an arbitration agreement entered into under the Convention agree otherwise, a court or administrative tribunal
(a) may not order interim measures for the preservation of a party’s rights or interests before the institution of or during arbitration proceedings; and
(b) may not determine a matter that is covered by the agreement.
Marginal note:Conciliation — without prejudice
10. Unless the parties to conciliation proceedings under the Convention agree otherwise, a party may not use the following in any other proceedings, including proceedings before a court, administrative tribunal or arbitrator:
(a) a view expressed or a statement, admission or offer of settlement made by the other party in the conciliation proceedings; or
(b) the report or recommendations made by the conciliation commission established under article 29 of the Convention.
Marginal note:Designation of panels
11. The Governor in Council may, in accordance with articles 12 to 16 of the Convention, designate persons to the panel of conciliators and the panel of arbitrators.
Marginal note:Coming into force
12. This Act comes into force on a day to be fixed by order of the Governor in Council.
- Date modified: