Stabilisation and Association Agreement between the EU and Croatia
Stabilisation and Association Agreement between the EU and Croatia Stabilisation and Association Agreement between the EU and Croatia
h) with regard to international maritime transport, including intermodal operations involving a sea leg, nationals of the Member States or of Croatia established outside the Community or Croatia respectively, and shipping companies established outside the Community or Croatia and controlled by nationals of a Member State or Croatian nationals respectively, shall also be beneficiaries of the provisions of this Chapter and Chapter III, if their vessels are registered in that Member State or in Croatia respectively, in accordance with their respective legislation. i) "Financial services" shall mean those activities described in Annex VI. The Stabilisation and Association Council may extend or modify the scope of that Annex. Article 49 1. Croatia shall facilitate the setting-up of operations on its territory by Community companies and nationals. To that end, it shall grant, upon entry into force of this Agreement: (i) (ii) as regards the establishment of Community companies treatment no less favourable than that accorded to its own companies or to any third country company, whichever is the better, and; as regards the operation of subsidiaries and branches of Community companies in Croatia, once established, treatment no less favourable than that accorded to its own companies and branches or to any subsidiary and branch of any third country company, whichever is the better. 2. The Parties shall not adopt any new regulations or measures which introduce discrimination as regards the establishment of Community or Croatian companies on their territory or in respect of their operation, once established, by comparison with their own companies. 3. The Community and its Member States shall grant, from the entry into force of this Agreement: (i) (ii) as regards the establishment of Croatian companies, treatment no less favourable than that accorded by Member States to their own companies or to any company of any third country, whichever is the better; as regards the operation of subsidiaries and branches of Croatian companies, established in their territory, treatment no less favourable than that accorded by Member States to their own companies and branches, or to any subsidiary and branch of any third country company, established in their territory, whichever is the better. 4. Four years after the entry into force of this Agreement, the Stabilisation and Association Council will establish the modalities to extend the above provisions to the establishment of nationals of both Parties to the Agreement to take up economic activities as self-employed persons. 32
5. Notwithstanding the provisions of this Article: (a) (b) (c) Subsidiaries and branches of Community companies shall have, from the entry into force of this Agreement, the right to use and rent real property in Croatia; Subsidiaries of Community companies shall also have the right to acquire and enjoy ownership rights over real property as Croatian companies and as regards public goods/goods of common interest, the same rights as enjoyed by Croatian companies, where these rights are necessary for the conduct of the economic activities for which they are established excluding natural resources, agricultural land, forests and forestry land. Four years after the entry into force of this Agreement the Stabilisation and Association Council shall establish the modalities for extending rights under this paragraph to the excluded sectors. Four years after the entry into force of this Agreement, the Stabilisation and Association Council shall examine the possibility of extending the rights under (b), including rights in the excluded sectors, to branches of Community companies. Article 50 1. Subject to the provisions of Article 49, with the exception of financial services described in Annex VI, each Party may regulate the establishment and operation of companies and nationals on its territory, in so far as these regulations do not discriminate against companies and nationals of the other Party in comparison with itsowncompaniesandnationals. 2. In respect of financial services, notwithstanding any other provisions of this Agreement, a Party shall not be prevented from taking measures for prudential reasons, including for the protection of investors, depositors, policy holders or persons to whom a fiduciary duty is owned by a financial service supplier, or to ensure the integrity and stability of the financial system. Such measures shall not be used as a means of avoiding the Party’s obligations under the Agreement. 3. Nothing in the Agreement shall be construed to require a Party to disclose information relating to the affairs and accounts of individual customers or any confidential or proprietary information in the possession of public entities. Article 51 1. The provisions of this Chapter shall not apply to air transport services, inland waterways transport services and maritime cabotage services. 2. The Stabilisation and Association Council may make recommendations for improving establishment and operations in the areas covered by paragraph 1. 33
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5. Notwithst<strong>and</strong>ing <strong>the</strong> provisions of this Article:<br />
(a)<br />
(b)<br />
(c)<br />
Subsidiaries <strong>and</strong> branches of Community companies shall have, from <strong>the</strong> entry<br />
into force of this <strong>Agreement</strong>, <strong>the</strong> right to use <strong>and</strong> rent real property in <strong>Croatia</strong>;<br />
Subsidiaries of Community companies shall also have <strong>the</strong> right to acquire <strong>and</strong><br />
enjoy ownership rights over real property as <strong>Croatia</strong>n companies <strong>and</strong> as regards<br />
public goods/goods of common interest, <strong>the</strong> same rights as enjoyed by <strong>Croatia</strong>n<br />
companies, where <strong>the</strong>se rights are necessary for <strong>the</strong> conduct of <strong>the</strong> economic<br />
activities for which <strong>the</strong>y are established excluding natural resources,<br />
agricultural l<strong>and</strong>, forests <strong>and</strong> forestry l<strong>and</strong>. Four years after <strong>the</strong> entry into force<br />
of this <strong>Agreement</strong> <strong>the</strong> <strong>Stabilisation</strong> <strong>and</strong> <strong>Association</strong> Council shall establish <strong>the</strong><br />
modalities for extending rights under this paragraph to <strong>the</strong> excluded sectors.<br />
Four years after <strong>the</strong> entry into force of this <strong>Agreement</strong>, <strong>the</strong> <strong>Stabilisation</strong> <strong>and</strong><br />
<strong>Association</strong> Council shall examine <strong>the</strong> possibility of extending <strong>the</strong> rights<br />
under (b), including rights in <strong>the</strong> excluded sectors, to branches of Community<br />
companies.<br />
Article 50<br />
1. Subject to <strong>the</strong> provisions of Article 49, with <strong>the</strong> exception of financial services<br />
described in Annex VI, each Party may regulate <strong>the</strong> establishment <strong>and</strong> operation of<br />
companies <strong>and</strong> nationals on its territory, in so far as <strong>the</strong>se regulations do not<br />
discriminate against companies <strong>and</strong> nationals of <strong>the</strong> o<strong>the</strong>r Party in comparison with<br />
itsowncompanies<strong>and</strong>nationals.<br />
2. In respect of financial services, notwithst<strong>and</strong>ing any o<strong>the</strong>r provisions of this<br />
<strong>Agreement</strong>, a Party shall not be prevented from taking measures for prudential<br />
reasons, including for <strong>the</strong> protection of investors, depositors, policy holders or<br />
persons to whom a fiduciary duty is owned by a financial service supplier, or to<br />
ensure <strong>the</strong> integrity <strong>and</strong> stability of <strong>the</strong> financial system. Such measures shall not be<br />
used as a means of avoiding <strong>the</strong> Party’s obligations under <strong>the</strong> <strong>Agreement</strong>.<br />
3. Nothing in <strong>the</strong> <strong>Agreement</strong> shall be construed to require a Party to disclose<br />
information relating to <strong>the</strong> affairs <strong>and</strong> accounts of individual customers or any<br />
confidential or proprietary information in <strong>the</strong> possession of public entities.<br />
Article 51<br />
1. The provisions of this Chapter shall not apply to air transport services, inl<strong>and</strong><br />
waterways transport services <strong>and</strong> maritime cabotage services.<br />
2. The <strong>Stabilisation</strong> <strong>and</strong> <strong>Association</strong> Council may make recommendations for<br />
improving establishment <strong>and</strong> operations in <strong>the</strong> areas covered by paragraph 1.<br />
33