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1、Creation建立建立ConventionEstablishingtheMultilateralInvestmentGuaranteeAgency1985,1988建立多边投资建立多边投资担保机构公约担保机构公约（汉城公约）（汉城公约）worldbankgroupIBRD:InternationalBankforReconstructionandDevelopmentIDA:InternationalDevelopmentAssociationIFC:InternationalFinanceCorporationICSID:InternationalCentreforSettlementof
2、InvestmentDisputeMIGA:MultilateralInvestmentGuaranteeAgency thecreationofMIGAMIGAwasestablishedin1988undertheConventionEstablishingtheMultilateralInvestmentGuaranteeAgency.ASamemberoftheWorldBankGroup(IBRD,IDA,IFC,MIGA,ICSID),MIGAsmissionistoencourageforeigndirectinvestment(FDI)intodevelopingcountri
3、estosupporteconomicgrowth,reducepoverty,andimprovepeopleslivesbyprovidingguaranteestoforeigninvestorsagainstlosscausedbynon-commercialrisks.ChinaisoneofthefoundingmemberofMIGA Objective and purposes TheobjectiveoftheAgencyshallbetoencouragetheflowofinvestmentsforproductivepurposesamongmembercountrie
4、s,andinparticulartodevelopingmembercountries.ToserveitsobjectivetheAgencyshallissueguaranteesagainstnon-commercialrisksinrespectofinvestmentsinamembercountrywhichflowfromothermembercountries;ResponsibilitiesofMIGAMIGA的职责的职责To serve its objective,the Agency shall:(a)issue guarantees against non-comme
5、rcial risks(b)carry out appropriate complementary activities (辅助性活动）(c)Exercise such other incidental powers(附带权利）status of the Agency The Agency shall possess full juridical personality and,in particular,the capacity to:(i)contract;(ii)acquire and dispose of movable and immovable property;and(iii)i
6、nstitute legal proceedings.Membership and Capital MembershipintheAgencyshallbeopentoallmembersoftheBankandtoSwitzerland.Firsttype:developedcountries(investor)Secondtype:developingcountries(hoststate)TheauthorizedcapitalstockoftheAgencyshallbeonebillionSpecialDrawingRights特别提款权特别提款权(SDR1,000,000,000)
7、.Thecapitalstockshallbedividedinto100,000shareshavingaparvalueofSDR10,000each,whichshallbeavailableforsubscriptionbymembers.SubscriptionofShares 认购股份认购股份EachoriginalmemberoftheAgencyshallsubscribeatpartothenumberofsharesofcapitalstocksetforthoppositeitsnameinScheduleAhereto.Eachothermembershallsubsc
8、ribetosuchnumberofsharesofcapitalstockonsuchtermsandconditionsasmaybedeterminedbytheCouncil,butinnoteventatanissuepriceoflessthanpar.Nomembershallsubscribetolessthatfiftyshares.TheCouncilmayprescriberulesbywhichmembersmaysubscribetoadditionalsharesoftheauthorizedcapitalstock.DivisionandCallsofSubscr
9、ibedCapital 认购股份的区分和催缴认购股份的区分和催缴Theinitialsubscriptionofeachmembershallbepaidasfollows:(i)WithinninetydaysfromthedateonwhichthisConventionentersintoforcewithrespecttosuchmember,tenpercentofthepriceofeachshareshallbepaidincashasstipulatedinSection(a)ofArticle8andanadditionaltenpercentintheformofnon-n
10、egotiable,non-interest-bearingpromissorynotesorsimilarobligationstobeencashedpursuanttoadecisionoftheBoardinordertomeettheAgencysobligations.(ii)TheremaindershallbesubjecttocallbytheAgencywhenrequiredtomeetitsobligations.StructureoftheAgency TheAgencyshallhaveaCouncilofGovernors理事会理事会aBoardofDirecto
11、rs董事会董事会aPresident总裁总裁andstafftoperformsuchdutiesastheAgencymaydetermine.Riskcoverage:MIGAprovidesnon-commercialguaranteeforinvestmentsmadeindevelopingstates:CurrencyTransfer:anyintroductionattributabletothehostgovernmentofrestrictionsonthetransferoutsidethehostcountryofitscurrencyintoafreelyusablec
12、urrencyoranothercurrencyacceptabletotheholderoftheguarantee,includingafailureofthehostgovernmenttoactwithinareasonableperiodoftimeonanapplicationbysuchholderforsuchtransferExpropriationandSimilarMeasures:anylegislativeactionoradministrativeactionoromissionattributabletothehostgovernmentwhichhastheef
13、fectofdeprivingtheholderofaguaranteeofhisownershiporcontrolof,orasubstantialbenefitfrom,hisinvestment,withtheexceptionofnon-discriminatorymeasuresofgeneralapplicationwhichgovernmentsnormallytakeforthepurposeofregulatingeconomicactivityintheirterritoriesBreachofContract:anyrepudiationorbreachbythehos
14、tgovernmentofacontractwiththeholderofaguarantee,when(a)theholderofaguaranteedoesnothaverecoursetoajudicialorarbitralforumtodeterminetheclaimofrepudiationorbreach,or(b)adecisionbysuchforumisnotrenderedwithinsuchreasonableperiodoftimeasshallbeprescribedinthecontractsofguaranteepursuanttotheAgencysregu
15、lations,or(c)suchadecisioncannotbeenforcedWarandCivilDisturbance:anymilitaryactionorcivildisturbanceinanyterritoryofthehostcountrytowhichthisConventionshallbeapplicableasprovidedinArticle66EligibleinvestorsforMIGAguaranteeAnynaturalpersonandanyjuridicalpersonmaybeeligibletoreceivetheAgencysguarantee
16、providedthat:(1)suchnaturalpersonisanationalofamemberotherthanthehostcountry(2)suchjuridicalpersonisincorporatedandhasitsprincipalplaceofbusinessinamemberorthemajorityofitscapitalisownedbyamemberormembersornationalsthereof,providedthatsuchmemberisnotthehostcountryinanyoftheabovecases(3)such juridica
17、l person,whether or not it is privately owned,operates on a commercial basis（1）该自然人是东道国以外的一会员国国民）该自然人是东道国以外的一会员国国民（2)该法人是在一会员国注册并在该国设有主要该法人是在一会员国注册并在该国设有主要业务地址，或其多数资本为一会员国或几个会员业务地址，或其多数资本为一会员国或几个会员国或这些会员国的国民所有。在上述任何情况下，国或这些会员国的国民所有。在上述任何情况下，该会员国都不是东道国。法人无论是否为私人所该会员国都不是东道国。法人无论是否为私人所有，均在商业基础上经营。有，均在商
18、业基础上经营。EligibleinvestmentsforMIGAguarantees(a)Eligibleinvestmentsshallincludeequityinterests,includingmedium-orlong-termloansmadeorguaranteedbyholdersofequityintheenterpriseconcerned,andsuchformsofdirectinvestmentasmaybedeterminedbytheBoard.(b)TheBoard,byspecialmajority,mayextendeligibilitytoanyothe
19、rmedium-orlong-termformofinvestment,exceptthatloansotherthanthosementionedinSection(a)abovemaybeeligibleonlyiftheyarerelatedtoaspecificinvestmentcoveredortobecoveredbytheAgency.合格的投资合格的投资(1)承保的投资既包括股权投资也包括直接承保的投资既包括股权投资也包括直接投资。投资。（2）承保的投资必须是新投资。）承保的投资必须是新投资。(3)承保的投资必须是投放于合格东道国的承保的投资必须是投放于合格东道国的投资。投资
20、。EligibleHostCountries 1.InvestmentsshallbeguaranteedunderthisChapteronlyiftheyaretobemadeintheterritoryofadevelopingmembercountry.2.TheAgencyshallnotconcludeanycontractofguaranteebeforethehostgovernmenthasapprovedtheissuanceoftheguaranteebytheAgencyagainsttherisksdesignatedforcover.合格东道国合格东道国1.只对发展
21、中国家会员国境内所作的投资予以担保。2.东道国政府同意担保特定风险。Payment of claimsThe President under the direction of the Board shall decide on the payment of claims to a holder of a guarantee in accordance with the contract of guarantee and such policies as the Board may adopt.Contracts of guarantee shall require holders of gua
22、rantees to seek,before a payment is made by the Agency,such administrative remedies as may be appropriate under the circumstances,provided that they are readily available to them under the laws of the host country.Such contracts may require the lapse of certain reasonable periods between the occurre
23、nce of events giving rise to claims and payments of claims.总裁在董事会指导下，应根据担保合同和董事会总裁在董事会指导下，应根据担保合同和董事会制定的政策，决定对被保险人索赔的支付。担保制定的政策，决定对被保险人索赔的支付。担保合同应要求被保险人在机构支付索赔之前，寻求合同应要求被保险人在机构支付索赔之前，寻求在当时条件下合适的、按东道国法律可随时利用在当时条件下合适的、按东道国法律可随时利用的行政补救办法。担保合同可要求在引起索赔事的行政补救办法。担保合同可要求在引起索赔事件发生与索赔支付之间要有一段合理的期限间隔。件发生与索赔支付之
24、间要有一段合理的期限间隔。SubrogationUponpayingoragreeingtopaycompensationtoaholderofaguarantee,theAgencyshallbesubrogatedtosuchrightsorclaimsrelatedtotheguaranteedinvestmentastheholderofaguaranteemayhavehadagainstthehostcountryandotherobligorsTherightsoftheAgencypursuanttoSection(a)aboveshallberecognizedbyallme
25、mbers 代位权当当MIGA对投资者支付或同意支付赔偿金对投资者支付或同意支付赔偿金时，代位取得投资者对东道国、其他债务时，代位取得投资者对东道国、其他债务人所拥有的有关承保投资的权利、索赔权，人所拥有的有关承保投资的权利、索赔权，全体会员国应予以承认全体会员国应予以承认MIGA的代位权。的代位权。Voting-加权表决制度加权表决制度In order to provide for voting arrangements that reflect the equal interest in the Agency of the two Categories of States listed i
26、n Schedule A of this Convention,as well as the importance of each members financial participation,each member shall have 177 membership votes plus one subscription vote for each share of stock held by that member.MIGA的作用的作用1 1保障国际投资的非商业风险保障国际投资的非商业风险2 2弥补区域性和国家性担保机制不足弥补区域性和国家性担保机制不足3 3有利于发展中国家吸引外资发展
27、经济有利于发展中国家吸引外资发展经济4 4有利于东道国与投资者之间争端解决有利于东道国与投资者之间争端解决 对对MIGAMIGA的几点评论的几点评论MIGAMIGA体制源于体制源于OPIC体制，又远高于体制，又远高于OPIC体体制制;MIGA是当今世界南、北两大类国家之间经济是当今世界南、北两大类国家之间经济上互相依存、冲突、妥协和合作的产物。这种妥协上互相依存、冲突、妥协和合作的产物。这种妥协的结果之一，就是作为东道国的发展中国家在一的结果之一，就是作为东道国的发展中国家在一定程序上自我限制本国在外国投资担保问题上的定程序上自我限制本国在外国投资担保问题上的主权。妥协的另一方面的结果是主权。妥协的另一方面的结果是MIGA公约成公约成员国中的发达国家同意敦促本国投资者更加尊重员国中的发达国家同意敦促本国投资者更加尊重东道国东道国-发展中国家的政治主权和经济主权。发展中国家的政治主权和经济主权。MIGA机制不同于任何国家官办保险机制的突机制不同于任何国家官办保险机制的突出特点，在于它对吸收外资的每一个发展中国家会员国在于它对吸收外资的每一个发展中国家会员国，同时赋以同时赋以“双重身份双重身份”：一方面，它是外：一方面，它是外资资所在的东道国，同时又是所在的东道国，同时又是MIGA的股东，的股东，从而部分地承担了外资风险承保人的责任。从而部分地承担了外资风险承保人的责任。