Technical Secretariat for the Commi
Technical Secretariat for the Committee of Investment Contract Dispute Settlement
The Prime Minister formed the Technical Secretariat for the Committee for the Settlement of Investment Contracts Disputes in his decree No. 1810 for the Year 2016 which was issued last week (the "Decree").[1]
The Decree stated that the Technical Secretariat shall be presided by the Minister of Justice’s Assistant for Arbitration and International Dispute and that it should include 17 judges from the Ministry of Justice and from various courts and prosecution offices.
It is worth mentioning that this Committee has been established by virtue of article (108) of the Investment Law number 8 for the Year 1997. That articles mandated that a Committee for the Settlement of Investment Contracts Disputes should be formed by the Cabinet of Ministers and that it should specialize in settling disputes arising from contracts that the state, or any affiliated entity, are party to with investors from the private sector. The Committee settles those disputes and presents its decision as a recommendation to the Cabinet of Ministers, which then ratifies it thereby rendering it enforceable.
The Law had stated that the Committee is to have a Technical Secretariat, the composition and regulation of which should be in accordance to a Prime Minister Decree. This has been amended by the Decree under discussion.
[1] Prime Minister’s Decree No. 1810/2016 forming the Technical Secretariat for the Committee for the Settlement of Investment Contracts Disputes, Official Gazette, Issue No. 28, 14 July 2016.
The Prime Minister formed the Technical Secretariat for the Committee for the Settlement of Investment Contracts Disputes in his decree No. 1810 for the Year 2016 which was issued last week (the "Decree").[1]
The Decree stated that the Technical Secretariat shall be presided by the Minister of Justice’s Assistant for Arbitration and International Dispute and that it should include 17 judges from the Ministry of Justice and from various courts and prosecution offices.
It is worth mentioning that this Committee has been established by virtue of article (108) of the Investment Law number 8 for the Year 1997. That articles mandated that a Committee for the Settlement of Investment Contracts Disputes should be formed by the Cabinet of Ministers and that it should specialize in settling disputes arising from contracts that the state, or any affiliated entity, are party to with investors from the private sector. The Committee settles those disputes and presents its decision as a recommendation to the Cabinet of Ministers, which then ratifies it thereby rendering it enforceable.
The Law had stated that the Committee is to have a Technical Secretariat, the composition and regulation of which should be in accordance to a Prime Minister Decree. This has been amended by the Decree under discussion.
[1] Prime Minister’s Decree No. 1810/2016 forming the Technical Secretariat for the Committee for the Settlement of Investment Contracts Disputes, Official Gazette, Issue No. 28, 14 July 2016.