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Investor Presentaiton

42 INVESTOR-STATE DISPUTE SETTLEMENT: A SEQUEL (i) Exclusion of disputes in a particular sector or industry There may be sensitive industries or sectors in relation to which a State does not wish to forego the jurisdictional monopoly of its national courts. Those sectors can be explicitly excluded from the scope of ISDS. For example, Article 9(4) of the Turkey Model BIT (2009) does that in relation to disputes concerning real estate: "[T]he disputes, related to the property and real rights upon the real estates [sic] are totally under the jurisdiction of the Turkish courts and therefore shall not be submitted to jurisdiction of the International Center for Settlement of Investment Disputes (ICSID) or any other international dispute settlement mechanism." Some IIAS specify a limited number of provisions under which investors in a particular sector or industry can make claims. For instance, while the Canada-Jordan BIT (2009) does not totally exclude financial institutions and investments therein from ISDS claims, it greatly reduces the number of obligations that can serve as a cause of action in this sector: "Article 21 Limitation of Claims with Respect to Financial Institutions With respect to: (a) financial institution of a Party; and (b) investors of a Party, and investments of such investors, in financial institutions in the other Party's territory, this Section [on ISDS] applies only in respect of claims that the other Party has breached an obligation under Articles 13 ["Expropriation"], 14 ["Transfers"], or 18 ["Denial of Benefits"]." (Emphasis added). UNCTAD Series on International Investment Agreements II
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