RESTRICTED  
  
S/C/W/351  
 
18 March 2013  
(13-1509)  Page: 1/130  
Council for Trade in Services    
 
  TYPOLOGY OF MEAS URES NOTIFIED 
PURSUANT TO GATS ARTICLE III:3 
NOTE BY THE SECRETARIAT1 
This Note provides a general typology of th e measures notified by Members pursuant to 
Article III:3 of the GATS since the Agreement's en try into force on 1 January 1995. It has been 
prepared in response to a request made by the Council for Trade in Services at its meeting held on 
6 December 2012. 
1  NOTIFYING PURSUANT TO ARTICLE III:3 1.1.  Article III of the GATS is titled "Transpa rency". In its paragraph 3, Article III provides 
specifically that each Member "shall promptly and at least annually inform the Council for Trade in 
Services of the introduction of any new, or any changes to existing, laws, regulations or 
administrative guidelines which significantly affect trade in services covered by its specific commitments under this Agreement". 
1.2.  Additional guidance with regard to the noti fication obligation in Article III:3 is contained in 
the "Guidelines for Notifications under the General Agreement on Trade in Services", adopted by the Council for Trade in Services on 1 March 1995 and contained in document S/L/5. Notably, the 
Guidelines for Notifications include a standard form at to be used by Members for the submission of 
their notifications (see Annex 2). According to this format, Members' notifications pursuant to Article III:3 will include, mutatis mutandis , the following elements:  
a. The notifying Member, with, if applicable, the indication of "the sub central government 
or authority or non-governmental bodies involved"; 
b. The date of entry into force and the duration of the measure; 
c. The agency responsible for the enforcement of the measure; 
d. The complete description of the measure "i ndicating the modes of supply covered, the 
effect on trade in services (e.g., restrictions/liberalization measures) and the impact of the measure on commitments in the Member's schedule and Article II (MFN) exemption 
list, if relevant"; 
e. Members specifically affected, if any; 
f. The source from which to obtain the text of the measure notified. 
1.3.  As at 8 March 2013, 488 notifications had been submitted to the Council for Trade in Services 
pursuant to Article III:3, by 55 Members.
2 These notifications are structured along the broad 
headings indicated in the standard format of the Guidelines for Notifications in all but six cases. Of those six notifications, three have not made use of the prescribed headings and omitted some of 
the information required.  
                                               
1 This document has been prepared under the Secret ariat's own responsibility and is without prejudice 
to the positions of Members and to their rights and obligations under the WTO. 
2 Counting the EU as one Member. S/C/W/351 
 
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  1.4.  The other three are, instead, of a differ ent nature. The Members concerned have notified 
that, in the year in question, they had not introduced any new, or changes to, their existing laws, regulations or administrative rules which significantly affected trade in services in committed service sectors, in other words, they have stated  that they had nothing to notify pursuant to 
Article III:3. 
1.5.  The most salient features of each notifi cation are reproduced in Annex 3. Information 
concerning the "duration" of the measure has been omitted, as this has consistently been indicated 
as either "indefinite" (or "indeterminate", "unlimited", etc.) or skipped altogether. Similarly, the 
Secretariat did not include in Annex 3 a field for "Members specifically affected" because in virtually all cases this carries the inscription "none". 
2  TYPES OF MEASURES NOTIFIED  PURSUANT TO ARTICLE III:3 
2.1.  At the outset, it is important to highligh t that any typology of measures notified under 
Article III:3 can only be indicative. The kind of information contained under the "description of the measure" in existing Article III:3 notifications is extremely heterogeneous, in terms of content, 
level of specificity and precision. As such, it does not lend itself to easy categorization.  
2.2.  This is reflected in two related challenges: first, identifying a set of meaningful categories, 
and, second, deciding under which,  of the categories selected, to classify the information inscribed 
in the notification. Unavoidably, the Secretariat has had to resort to a number of conventions as 
well as a significant degree of approximation in classifying measures.  
2.3.  Before assessing the main types of measures  notified pursuant to Article III:3, it is also 
important to acknowledge that the relevant GATS obligation does not require Members to notify 
"measures", but, rather more narrowly, "laws, regulations or administrative guidelines". The 
emphasis in the Agreement is thus on the form that a specific measure takes, rather than on the measure itself. The prescription in Article III:3, moreover, captures only measures that adopt 
one of three specific forms (i.e. laws, regulations or administrative guidelines). The latter are 
a sub-set of the possible forms that measures may take in accordance to GATS Article XXVIII.
3  
2.4.  The additional specificity provided for by the format attached to the Guidelines for 
Notifications is, therefore, extremely valuable. Part icularly useful is the requirement that Members 
provide in their notifications a complete description of the measure at hand.  
2.5.  However, only very few Members have followe d the prescribed format at this level of detail. 
For instance, in only 20 notifications have the modes of supply, the effect on trade in services, and 
the impact of the measure on the Member's commitments all been indicated.4 
2.6.  No information is practically ever supplied on whether a notification concerns a new measure 
or a change to an existing one. Similarly, hardly any indication is provided on the pre-existing 
regime and how this has been modified by the provision being notified. 
2.7.  Indeed, it is fair to say that, in general, the description of measures in the Article III:3 
notifications makes it often virtually impossible to draw firm conclusions on what that has been 
notified. As will be discussed below, even the identification of the relevant sectors and modes is, 
on occasion, not as straightforward as it should be. When it comes to the rather abstract notion of the "nature" of the measure, the determination is, a fortiori , more often than not highly subjective.  
2.8.  Just by way of illustration, how is a notification to the effect that "Law XYZ stipulates that 
suppliers in sector A need to be authorized by the Central Agency" to be understood? Is this 
a completely new provision? Or is it just a change to an existing law? And what does the change entail? Does it concern the agency from which this authorization should be requested? Or does it 
imply the need to obtain an authorization where previously none was required? Or has Law XYZ 
                                               
3 Article XVIII defines a "measure" as "any measur e by a Member, whether in the form of a law, 
regulation, rule, procedures, decision, admi nistrative action, or  any other form".  
4 Whenever this information has been provided, the Secretariat has used it in order to classify the 
notifications concerned in terms of pertinent modes and se ctors. It has to be recogn ized, however, that if it 
had relied exclusively on the description of the measures  notified, the Secretariat might in some instances have 
adopted a different categorization.   S/C/W/351 
 
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  modified the procedural or substantive conditions to obtain such an authorization? What did those 
conditions entail and how have they been changed? Do they imply market access restrictions? Or some national treatment limitation? Or are they purely of a domestic regulatory nature, in the sense of GATS Article VI:4? 
2.9.  Very likely the answers to these questions rest in the full text of the measure notified. 
However, reading 488 laws, regulations or administra tive guidelines that have been notified under 
Article III:3, in their original language, would clearly have been unfeasible. The Secretariat has 
therefore had to rely solely on the way in which a measure has been presented in the notification 
adopting some rough judgements about where to classify it.   
2.10.  Bearing these caveats in mind, the following categories have been selected in order to 
catalogue the measures notified under Article III:3.  
2.11.  First, the sector to which the measure pertains. The 11 main sectors identified in the 
W/120 Services Sectoral Classification were retained, but business services, communication services, financial services and transport services were further broken down into large 
sub-sectors.
5 Additionally, a "horizontal" category was introduced for measures applying across all 
sectors. Notifications pertaining to more than one sector have been counted against all the relevant sectors.  
2.12.  The second category selected is the mode(s) of supply that seems to be mostly affected by 
the measure notified. When more than one mode of  supply is involved, the notification has been 
counted multiple times, against all pertinent modes.  Whenever it has not been possible to identify 
precisely the specific mode(s) concerned, the relevant measure has been catalogued as pertaining 
to all modes. 
2.13.  A third criterion retained relates to the level of government concerned. Specifically, note has 
been taken of whether the measure falls under th e authority of the central government or of 
a sub-central government or authority.  
2.14.  Finally, five additional categories have been constructed in an attempt to describe the 
nature of the measure concerned. These are: "Art icle XVI/XVII measure", "Article VI:4 measure", 
"Institutional measure", "Other regulation" and "Non-specific measure".  
2.15.  A measure has been classified as an "Article XVI/XVII measure" if it appears to fall under 
either one of the six measures identified as market access restrictions under GATS Article XVI or a limitation to national treatment in the sense of Article XVII. Such cases include situations where 
particular types of legal entities are required, or limits are set for foreign equity participation, or 
where the measure applies exclusively to foreign services or service suppliers, for example.  
2.16.  Whenever a notification contains a refere nce either to licensing requirements, licensing 
procedures, qualification requirements, qualification procedures or technical standards, it has been 
classified as an "Article VI:4 measure". This is clearly only an approximation. The fact that certain licensing requirements are prescribed, for instance, is, in and by itself, not sufficient to conclude 
that those requirements are of a non-discriminatory nature and do not entail market access 
limitations in the sense of Article XVI. However, in the absence of any additional information, the Secretariat has chosen to catalogue such inscriptions under the "Article VI:4 measure" category.  
2.17.  Measures that relate specifically to services regulatory institutions, be these Central Banks, 
monetary authorities, telecommunication regulators or others, have been classified under the 
"Institutional measure" category. Such measures generally concern the establishment, re-organization, competence, functioning or staffing of the relevant agency.  
2.18.  An even rougher approximation needed to be adopted with regard to the category "Other 
regulation". It covers all those measures that cannot immediately be assigned to any of the preceding three categories, but that appear to be of a regulatory nature. Examples include 
                                               
5 There are, respectively, "profess ional services" and "other busine ss services"; "postal services"; 
"telecommunication services" and "audiovisual services"; banking services and "financial services"; and 
"maritime transport services " (which is broadened to include inland waterways transport services"), "air 
transport services" and "land transport services" (which includes road, rail and pipeline transport services). S/C/W/351 
 
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  prudential measures, regulations concerning work  or residence permits, measures providing for 
the classification of certain service establishments, data protection rules. 
2.19.  The final category used is a residual one, called "Non-specific measure". It covers 
inscriptions of a general, indefinite nature, which are not easily ascribed to any of the more 
specific categories. Examples include notifications of "measures", "conditions" or "criteria" to 
"regulate", "organize" or "operate in" a given sector. 
2.20.  On the basis of these conventional classifi cations, the Secretariat has proceeded to classify 
the measures notified pursuant to Article III:3. A sy nopsis of this exercise is contained in Annex 1. 
Sections 2.1 to 2.4 below present the main observations drawn from the results obtained.  
2.1  Sectoral profile of measures notified pursuant to Article III:3 
2.21.  By far the biggest number of measures notified pursuant to Article III:3 fall under the 
telecommunication sector. Measures relating to banking services rank a close second. Indeed, 
when these are combined with measures either in insurance services or applicable to both banking 
and insurance services, the financial sector comes out on top, with 183 notifications, as Chart 1 
illustrates.  
2.22.  The third biggest category is made up of measures of a horizontal nature. These may cover 
all the modes or only some, in which case they usually involve mode 3 or mode 4. Professional 
services (or, more generally, business services) have  also been the object of many notifications.  
Chart 1: notifications by sector 
 
 Source: WTO Secretariat.  
 
2.23.  These figures may not come as too much of a surprise. The notification obligation in 
Article III:3 concerns measures taken in sectors which Members have inscribed in their schedules 
of commitments. As such, the sectoral ranking of notifications might be expected to be loosely 
associated with the sector focus of GATS schedules, which is on infrastructural sectors such as financial services, business services and communication services.
 6 A notable exception is tourism, 
by far the most committed sector in GATS schedules, which has drawn only a comparatively small 
number of notifications. Other seeming "outliers" are health and social services and educational 
services, which account for the smallest number of  commitments in the GATS but relatively more 
notifications. 
                                               
6 Other factors that may have an influence on the se ctoral distribution of notifications include, for 
instance, the degree of trade openness of a sector, its "regulatory intensity" and the extent to which it is 
subject to rapid technological change. S/C/W/351 
 
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  2.24.  When considering the number of Members having notified in specific sectors, rather than 
counting the number of notifications submitted, a slightly different picture emerges. Chart 2 plots the number of Members having submitted a notification for the different sectors as a share of the total number of Members having undertaken a commitment in the sector concerned. Sectors 
charted at the outer boundaries are those for which Members have submitted proportionally more 
notifications, relative to the number of Members with inscriptions in GATS schedules, the reverse being true for sectors plotted closer to the centre.  
Chart 2: notifications relative to GATS commitments, by sector 
 
 Source: WTO Secretariat.  
 
2.25.  In nearly all instances, notifications pert ain to only one sector. However, 20 notifications 
specifically refer to two or more sectors, and, as such, were classified as falling under multiple sectors. In this sense, the total sectoral tally is bigger than the total number of notifications 
submitted. 
2.26.  The notifications that straddle across different sectors concern essentially professional 
services (combined with health services, construction services or other business services) and distribution services (combined with health services or tourism services). 
2.2  Modal profile of measures no tified pursuant to Article III:3 
2.27.  When it comes to the modal profile of measur es notified pursuant to Article III:3, mode 3 is 
by far the most recurrent mode. As Chart 3 illustrates, over 95% of all notifications involve 
mode 3, either in isolation or in addition to other modes. This share drops to 28% in the case of 
mode 4, and to 23% and 20%, respectively, in the case of modes 1 and 2. Some 50 notifications concern, potentially at least, all four modes of supply.  S/C/W/351 
 
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  Chart 3: notifications by mode 
 
 Source: WTO Secretariat.  
 
2.28.  When looking at notifications that refer exclusively to a single mode of supply, mode 3 
comes out on top again, with 295 occurrences. By comparison, just 15 notifications are relevant 
exclusively for mode 4, and only in one notifica tion are modes 1 and 2 concerned in isolation.  
2.29.  When assessing the combined sectoral and mo dal profile of notifications, notifications that 
concern either mode 1 or/and mode 2 are especially concentrated in the telecommunication sector, 
while those referring to mode 4 deal more frequently with horizontal measures and measures in the professional services sector. The latter are the same two areas where mode 3 measures, which 
are generally encountered across all sectors, have been notified relatively less frequently. 
2.3  Level of government concer ned by Article III:3 notifications 
2.30.  The near totality of the Article III:3 notifications concern measures taken at the central level 
of government. Only in just over twenty cases do notifications refer to measures taken by 
sub-central governments or authorities. These two dozen notifications were all submitted by only 
two Members. 
2.4  Nature of the measures noti fied pursuant to Article III:3  
2.31.  By far the greatest difficulty in cataloguing the measures notified pursuant to Article III:3 
concerns their nature. As discussed, the Secretariat has decided to attempt a typology based on the following categories: "Article XVI/XVII meas ure", "Article VI:4 measure", "Institutional 
measure", "Other regulation" and "Non-specific measure". It should be noted that, as with the 
sectoral and modal classification, these categories are not always mutually exclusive, and in 
several instances measures have been coded as falling under two or more of them.  
2.32.  By far the largest number of measures has been classified as pertaining to the "Other 
regulation" category. As Chart 4 illustrates, over 40% of all notifications involve such kinds of 
measures, either in isolation or in combination with others.  S/C/W/351 
 
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  Chart 4: Nature of the measures notified 
 
 Source: WTO Secretariat.  
 
2.33.  In terms of sectoral distribution, "other re gulations" have overwhelmingly been the object of 
notifications in financial services, either at aggregate sectoral level or specifically for either banking or insurance services. This result is likely a reflection of the cataloguing under this grouping of the many prudential measures notified. 
2.34.  The next most frequent category, accounting for just over 30% of all notifications, is for 
measures that are potentially Article XVI or Article XVII measures. Such measures have been relatively most frequent when they  have involved "other business services" or "transport services".  
2.35.  What is particularly striking is that more than one in four notifications is of a "non-specific" 
nature. These instances seem to be fairly evenly distributed across sectors, although notifications in banking and professional services appear to be afflicted relatively less frequently by such vague 
entries. These "non-specific" measures are usually associated with all modes of supply, essentially 
because the imprecision with which they are described  renders it impossible to identify the specific 
modes that may be involved. 
2.36.  "Article VI:4" measures are comparatively rare, accounting for little over 20% of all 
notifications. This is likely a result of the strict classification convention adopted for this exercise, 
which requires a literal reference to licensing requirements, licensing procedures, qualification requirements, qualification procedures or technical standards in the description of the notification 
for a measure to be classified under this category. Against this background, it is not too surprising 
that relatively many such measures relate to the professional services sector and the health sector. 
2.37.  Finally, "institutional measures" are least fr equently encountered in notifications. They tend 
to be concentrated in a few sectors, in particular communication services in general, and postal services more specifically. 
 
_______________ 
  S/C/W/351 
 
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  ANNEX 1 
NUMBER OF NOTIFICATIONS BY TYPE 
Type of notification Number of 
notifications 
SECTOR  
 Professional services 52 
 Other business services 11 
 Communication services1 3 
  Postal services (inclu ding courier services) 5 
  Telecommunication services 84 
  Audiovisual services 6 
 Construction services 11 
 Distribution services 16 
 Educational services 11 
 Environmental services 0 
 Financial services1 69 
  Insurance services 36 
  Banking services 78 
 Health related and social services 20 
 Tourism and travel related services 25 
 Recreational, cultural and sporting services 6 
 Transport services1 3 
  Maritime (incl. internal waterway) transport services 10 
  Air transport services 5 
  Land (incl. pipeline) transport services 10 
 Horizontal measures 55 
MODE  
 Mode 1 111 
 Mode 2 96 
 Mode 3 466 
 Mode 4 138 
ENTITY  
 Central government 21 
 Sub-central government 467 
NATURE  
 Article XVI/XVII measure  148 
 Article VI:4 measure 110 
 Institutional measure 30 
 Other regulation 205 
 Non-specific measure 129 
1 For these sectors, the number of notifications correspond s to those applicable to th e sector in aggregate. To 
get a count of all the notifications pertaining to the sect ors concerns, this figure should be added to those for 
the relevant sub-sectors. 
 S/C/W/351 
 
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  ANNEX 2 
STANDARD FORMAT FOR NOTIFICATIONS AS ATTACHED TO THE GUIDELINES FOR 
NOTIFICATIONS UNDER THE GENERAL AGREEMENT ON TRADE IN SERVICES (S/L/5) 
NOTIFICATION 
 
     
1. Members(s) notifying. If applicable the Sub central government or authority or 
 non-governmental bodies involved should be specified.  
 
  
 
 
2. Notification under Article(s): 
 
 
3. Date of entry into force/duration: 
 
 
4. Agency responsible for enforcement of the measure:   
5. Complete description of the measure* indicating the modes of supply covered, the effect 
 on trade in services (e.g., restrictions/liberalization measures) and the impact of the  measure on commitments in the Member's schedule and Article II (MFN) exemption list, if  relevant: 
 
  
 
6. Members specifically affected, if any: 
 
7. Text available from:   - Enquiry point  
 
 - WTO Secretariat  
  
 - Other sources (address, fax  
  and telephone of other body)  
 
 
* Including international agreements, recognition measures or other types.  
 
  
  S/C/W/351  
 
- 10 - ANNEX 3 
MAIN FEATURES OF ARTICLE III: 3 NOTIFICATIONS, BY MEMBER 
 
S/C/N/ MEMBER DATE AGENCY MEASURE AND ITS DESCRIPTION 
S/C/N/641 Albania 16.04.12 Bank of Albania The purpose of this Regu lation is to set out requirements and rules for the operatio nal risk management in 
the banking and/or financial activity from the subjects of this Regulation. 
The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112)  
S/C/N/640 Albania 16.04.12 Bank of Albania The purpose of this Regulation is to set out: 
(a) The criteria, terms and procedures for the approv al of statutory auditor of banks and branches of 
foreign banks from the Bank of Albania; 
(b) The auditing by the statutory auditor of banks an d branches of foreign banks for the purposes of the 
Bank of Albania; and 
(c) The relationships between statutory auditor of ba nks and branches of foreign banks and the Bank of 
Albania. 
The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112) 
 
S/C/N/639 Albania 16.04.12 Bank of Albania The purpose of this Regulation is: 
(a) to lay down the rules on credit risk management in  the activity of banks and branches of foreign banks; 
and 
(b) to lay down the criteria on credit risk assessment  and the classification of credits and assets, and the 
calculation of reserves for loan loss  provisions from their deprecation. 
The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112)  
S/C/N/638 Albania 16.04.12 Bank of Albania 
 The purpose of this Regulation is to set out the conditions, requirements, terms, documentation and 
procedures for: 
(a) granting the licence to the bank and the branch of a foreign bank to carry out banking and financial 
activity in the Republic of Albania; 
(b) the approval of the additional activities fo r the bank and the branch of a foreign bank; and 
(c) the expansion of banking networ k after the licensing of the bank and the branch of a foreign bank. 
The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112) 
 
S/C/N/637 Albania 16.04.12 Bank of Albania The purpose of this Regulation is to set out the conditions, requirements, terms, do cumentation and 
procedures for: 
(a) the granting of a licence to non-bank financial institutions and to the micro credit financial institutions 
to carry out financial activity in the Republic of Albania; 
(b) the granting of the prior approval during the exec ution of the activity of no n-bank financial subjects 
and of micro-credit institutions; 
  
  S/C/W/351  
 
- 11 - S/C/N/ MEMBER DATE AGENCY MEASURE AND ITS DESCRIPTION 
(c) the obligation to inform Bank of Albania throughout  the exercise of non-bank financial institutions and 
of micro-credit institutions; 
(d) the approval of the non-ba nk financial subject's agent. 
The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112) 
S/C/N/636 Albania 16.04.12 Bank of Albania The purpose of this Regulation is to establish the ratio between regulatory capital to risk weighted assets and 
off-balance sheet items,  referred to as "The capital adequacy rati o", and to set the minimum required limit 
for this ratio, referred to as "The  minimum capital adequacy ratio". 
The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112) 
S/C/N/635 Albania 16.04.12 Bank of Albania The purpose of this Regu lation is to set out the minimum requirements and standards to effectively manage 
risk liquidity, by the subj ects of this Regulation. 
The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112)  
S/C/N/634 Albania 16.04.12 Bank of Albania The purpose of this Regulation is to set out the criteria and rules for the licensing, organization, activity and 
supervision of foreign exchange bureaus. 
The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112) 
 
S/C/N/633 Albania 16.04.12 Bank of Albania The purpose of these amendm ents to Regulation is to stre ngthen the requirements by t he supervisory 
authority on: transparency about commissions and their calculation methodology; keeping the calculation methodology unchanged for the entire duration of the loan ; periodic reporting by subj ects about their interest 
rates on deposits and loans as well as applicable commissions on all products  and services and their 
publication by the Bank of Albania; inclusion of some maximum limits on compensation in case of early repay 
of a loan. 
The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112)  
S/C/N/632 Albania 16.04.12 Bank of Albania The purpose of this Regulation is to set out the requirements concerning the way and form of providing 
information to the client about banking and financial pr oducts and services offered by the subjects of this 
regulation with the intention to insure transparency and the customer's safeguarding. 
The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112) 
 
S/C/N/631 Albania 16.04.12 Bank of Albania These amendments to the Banking Law consisted in the re-conception of the term "bank ing business", in 
compliance with the provisions of the Directive and the practices of the EU member states. The legal amendment relates to the removal of banks' exclusivity to issuing electronic money, and its inclusion in the wide range of financial activities provided for in this Law. The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112)  
  S/C/W/351  
 
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S/C/N/630 Albania 16.04.12 Bank of Albania These amendments are related to the list of OECD coun tries applicable in counter-parties to which non-bank 
financial institutions are exposed. 
The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112) 
 
S/C/N/629 Albania 16.04.12 Bank of Albania These amendments are related to the list of OECD countries applicable in counter-par ties to which the banks 
are exposed, taken into consideration in the calculation of weighted assets with the risk for purposes of calculating capital adequacy. The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112) 
S/C/N/628 Albania 16.04.12 Bank of Albania These amendments stipulate eased measures by the authority during the global financial crisis for the 
management of the concentrated exposure (BoA reduce d from 25 to 10 % - the maximum exposure of banks 
with their mother banks or within th e group in order to promote the mitigation of concentration risk of bank 
investments in the international financial markets). This restriction was reversed, with the maximum allowed 
exposure restored to 20%. 
The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112) 
S/C/N/627 Albania 16.04.12 Bank of Albania The purpose of these amen dments is to create the possibilities for the savings and c redit associations (SCA) 
to lend in longer term especially for the agricult ure areas and businesses, setting the requirements on 
specific policies and credit risk administration process. 
The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112)  
S/C/N/626 Albania 16.04.12 Bank of Albania The purpose of this Regulation is to set out the rules and criteria for the calculation, monitoring, reporting 
and the supervision of the banks' open  foreign exchange positions, in or der to manage the foreign exchange 
risk. 
The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112) 
 
S/C/N/625 Albania 16.04.12 Bank of Albania This regulation lays down  the level of competencies of managing bodies in decision m aking process of the 
BoA in relation to its supervisory function, through the application of the principle of devolution of competencies, closer to the persons that discharge the relevant specific functions. The mode of supply covered by this measure: (3) Commercial presence 
Central bank supervisory services (81112)  
S/C/N/624 Albania 16.04.12 Bank of Albania The purpose of this regulation is to set out the rules for the management of risk in the activity of non-bank 
financial institutions. 
The mode of supply covered by this measure: (3) commercial presence 
Central bank supervisory services (81112) 
  
  S/C/W/351  
 
- 13 - S/C/N/ MEMBER DATE AGENCY MEASURE AND ITS DESCRIPTION 
S/C/N/623 Albania 16.04.12 Ministry of Culture, 
Youth and Sports This Law regulates the functioning of the institutions  which deal with management and display of objects 
which are distinguished for thei r cutltural heritage values, su ch as museums and galleries. 
The mode of supply covered by this measure; (3) commercial presence 
Museums and galleries services except for historical sites and buildings (96321) 
 
S/C/N/610 Albania 21.11.11 Ministry of Economy, 
Trade and Energy and 
Consumer Protection 
Commission Measure: 
Decision No. 615, on "Distance Marketing of Financial Services for consumers' Contract" 
Description: 
This decision shall regulate the distance marketin g of financial services fo r consumers' contracts. 
The mode of supply covered by this me asure: mode (3) commercial presence; 
Financial consultancy services (81332) 
 
S/C/N/528 Albania 26.10.09 Ministry of Economy, 
Trade and Energy, Business Promotion Department   This Law is to create the necessary legal framework on the recognition and application of electronic signature 
in the Republic of Albania The mode of supply covered by this measure; (3) Commercial Presence  
S/C/N/516 Albania 12.10.09 Ministry of 
Economy, Trade and 
Energy, Business 
Promotion 
Department This Law shall regulate the status of entrepreneurs,  the founding and managing of companies, the rights 
and obligations of founders, partners, members, and shareholders, companies’ reorganization and 
liquidation. Companies are general partnerships, limit ed partnerships, limited liability companies or 
joint-stock companies. 
This law is in compliance with the equal treatment principle. 
The mode of supply covered by this measure: 
(3) commercial presence 
S/C/N/485 Albania 09.03.09 Ministry of Public 
Works, Transport and 
Telecommunication, 
and the General Directorate of Civil Aviation The "measure" which is going to be implemented is based on the acknow ledgement and the use of a uniform 
legal process, procedures and standards according to  the UNIDROIT principles on interest in Mobile 
Equipments on matters specific to aircraft equipment. 
The mode of supply covered by this measure; mode 3 commercial presence in the following sector: - Supporting services for air transport (746)
 
S/C/N/461 Albania 16.06.08 Ministry of Health Any physician and dentist, Al banian or foreigner, can exercise his pr ofession only after becoming member of 
the Physicians' Order in the Republic of Albania. 
Criteria for membership are defined by Order. 
This measure covers Mode 3 commercial presence in the following sectors: 
Hospital services (9311) 
Other human health services (9319, other than 93191) 
Medical and dental services (9312) 
 
S/C/N/460 Albania 16.06.08 Ministry of Health Any nurse, midwife or physiotherapist, Albanian or foreigner, can exercise his pr ofession only after becoming 
member of the Order of Nurse in the Republic of Albania. This measure covers Mode 3 commercial presence in the following sectors:  
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Hospital services (9311) 
Other human health services (9319, other than 93191) Services provided by midwives, nurses, phys iotherapist and paramedical Personnel (93191) 
Personnel (93191) 
 
S/C/N/459 Albania 16.06.08 Ministry of Health Any optical centre can exercise its activity after bein g licensed by the Ministry of Health, and having as 
personnel opticians and optical laboratory experts. Specific criteria for opticians and optical laboratory 
experts are defined in the Regulation and are the same for all applicants, domestic or foreigners. 
This measure covers Mode 3 commercial presence in the following sectors: 
Services provided by midwives, nurses, phys iotherapist and paramedical Personnel (93191) 
Personnel (93191) 
 
S/C/N/458 Albania 16.06.08 Pharmacists' Order Any pharmacist, Albanian  or foreigner, can exercise his profession only after bec oming member of the 
Pharmacists' Order in th e Republic of Albania. 
Criteria for membership are defined by Order This measure covers Mode 3 commercial presence in the following sectors: 8.A. Hospital services (9311) 8.B. Other human health services (9319, other than 93191) 4.A. Commission agent's services (621) 4.B. Wholesale trade services (622) The mode of supply covered by  this measure is Mode (3) commercial presence and mode (1) cross border in 
the following sub-sector: 4.C. Retailing services (631+632+633+611+612) 
S/C/N/457 Albania 16.06.08 Ministry of Health Any physical or juridical person wishing to exercise activity in the biochemical-clinical medical laboratory 
must have a technical director and needed personnel that meet criteria defined in this regulation. These 
criteria are the same for the do mestic and foreign providers. 
This measure covers Mode 3 commercial  presence in the following sector: 
8.B. Other human health services (9319, other than 93191) 
S/C/N/456 Albania 16.06.08 Ministry of Health Any physical or juridi cal person wishing to exercise activities in the field of d isinfection, insecticide and 
sanitizing service must hold a licens e issued by the Licensing Commission of the Ministry of Health, fulfilling 
some criteria and having written confirmation from D. I.S substances Licensing Commission of the Ministry. 
Specific criteria for license are determined by the Guideline. The licensing criteria set forth in this guideline are the same for domestic and foreign applicants. 
This measure covers Mode 3 commercial presence in the following sectors: 8.B. Other human health services (9319, other than 93191) 4.A. Commission agent's services (621) 4.B. Wholesale trade services (622)  
S/C/N/455 Albania 16.06.08 Ministry of Public 
Works, Transport and 
Telecommunications This law defines (i) agencies in charge of exercising control in the road; (ii) permitted maximum dimensions 
and maximum authorized weight of vehicles; (iii) transportation capacity of vehicles. 
The mode of supply covered by this measure; (3) commercial presence of the following:  
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(General Road 
Directorate) 
 Supporting services for road transport (744) 
 
S/C/N/454 Albania 12.06.08 Ministry of Public 
Works, Transport and Telecommunications The measures which are going to be implemented are based on the open access on the infrastructure. Same 
railway operators can exercise their ac tivity on railway network, after being supplied with relevant permission 
from the minister. We will have a strict separation between infrastructure and transport to enable a non discriminatory open access regime for all operators. Foreign railway transport entities based on the reciprocity's principal and after the respective agreement signed between the state where they are registered  and the Albanian government can do transport's 
activities in the Albanian railway network for the movement of the railway vehicles that have only the origin station or the destination's on e in the Albanian territory. 
The mode of supply covered by this measure; (3) commercial presence of the following: Transport services by railway (711)  
S/C/N/453 Albania 16.06.08 Ministry of Public 
Works, Transport and 
Telecommunications 
and the Ports The measures to be implemented are to enhance the se curity in ports and ships based on the requirements 
of international conventions adhered to (SOLAS) and IS PS Code. This guarantees optimal transport services 
and elimination of non-physical barriers. 
The mode of supply covered by this measure; (3) commercial presence of the following: 
Supporting services for water transport (745) 
 
S/C/N/452 Albania 12.06.08 Ministry of Public 
Works, Transport and Telecommunications and the other related Governmental 
Agencies 
 The measures to be implemented are based on the access into the transport market of transport operators 
for the carriage of passengers and goods, the establis hment of a legal and regulatory system in compliance 
with the international and European requirements an d standards which shall guarantee optimal transport 
service operations based on a high level of competitions and elimination of non-physical barriers. The mode of supply covered by this measure; (3) commercial presence of the following: 
Port and waterway operation services (74510) 
 
S/C/N/451 Albania 05.06.08 Ministry of Finance, 
Directorate General of 
Taxation and 
Directorate General of 
Customs This sub legal controls legal relations which are need ed for excise determination, conditions, procedures, 
rights and obligations of ex cise subjects, and other topics related with collection and administration of 
revenues from tax authorit ies, subject of excise. 
The mode of supply covered by this measure; (3) commercial presence of the following: 
Taxation services (8630) 
The mode of supply covered by this measure; (3) commercial presence of the following: 
Taxation services (8630) 
S/C/N/450 Albania 05.06.08 Ministry of Finance, 
Directorate General of Taxation and Directorate General of Customs This law establishes the types of national taxes applied in the Republic of Albania, the tax rate, the 
procedures of calculation, cashing and transfer in th e State’s Budget and the obligations of national tax 
agents. The tax system in the Republic of Albania consists of national and local taxes. This law covers national taxes. Local taxes are covered by a special law. The mode of supply covered by this measure; (3) commercial presence of the following: Taxation services (8630)   
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S/C/N/449 Albania 05.06.08 Ministry of Finance, 
Directorate General of 
Taxation and 
Directorate General of 
Customs This sub legal establishes the value added tax in the Re public of Albania. The Va lue Added Tax is payable: 
a. for all taxable supplies of goods and services realiz ed against the payment by a taxable person, as part 
of his economic activity in the terr itory of the Republic of Albania. 
b. for all imports of goods in the territory of the Republic of Albania 
c. The minimum limit of registration is 8 million leks (per calendar year) or any other amount defined by 
the Council of Ministers based on the item 5 of this article. 
All legal and physical persons involved in export or import activities are constrained to register in order to pay 
the VAT. 
Any other entity such as individuals, central and local government, social, politic and international 
organizations, diplomatic mi ssions, etc, which carry out import-export activities, re gardless of the turnover 
are also constrained to register. For any entity which carries out import-export activity, the customs 
operations will proceed after he submits the original  or the notarized copy of the Certificate of the 
Identification Number for the Taxable Person (NIPT). 
The total turnover is calculated based on the total price paid by the buyer, inclusive also the tax and 
condemnation fees (fines). 
The VAT declaration and payment form is filled in tw o copies and the taxable person submits it to the 
respective bank with which the GDT has an agreemen t regarding the admission of VAT payments, within 
14 days after the expiration of the tax period. 
VAT is applied at 20%, unless otherwise settled by law. 
Reimbursements 
1. If the crediting of the taxation for a taxation period is higher than the VAT applied for that period, the 
taxable person is entitled to bear the remained su m as taxation crediting for the subsequent taxation 
period pursuant to the article 32. 
2. A taxable person requests reimbursement of the surplus of  the taxation crediting when: 
(a) The taxable person has borne a sum of the taxa tion crediting for 3 consecutive months, pursuant 
to the point 1 of this article. 
(b) the required reimbursement exceeds the amount of 400 000 ALL. 
3. For the cases when in the financial agreements ratified by the People’s Assembly or in the agreements 
o r  g r a n t s  a p p r o v e d  b y  t h e  C o u n c i l  o f  M i n i s t e r s ,  it is envisaged the non-use of foreign financial 
resources to pay taxes and duties, including or not the value added tax, the paid value added tax is 
reimbursed to the foreign financer s from the tax administration within 45 days, according to the rules 
established by the Mi nister of Finances. 
- The exporters are entitled to request reimbursement when their surplus exceeds the amount of 
400.000 (four hundred thousand) ALL. 
- The tax bodies make the reimbursement of the cr editing surplus of VAT for this category of 
taxpayers within 30 days from the date of the presentation of the request. 
Exempted supplies 
The following operations are excluded from payment of VAT: 
- Land and buildings 
- The supply of the financial services such as: 
(a) giving, negotiating and loans, credits, credit guar antees and any security, including administration of 
loans, credits or credit guarantees by the giver; 
(b) transactions concerning bank accounts, paym ents, transfers, debts, cheques and negotiable 
instruments, except the collection of debt;  
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(c) transactions concerning currency, banknote and money which are legal payment instruments, except 
articles used only for collections; 
(ç) transactions concerning shares , financial capitals, bonds and othe r securities, except supervision 
services; 
(d) administration of investment funds; 
(dh) transactions concerning life insurance contracts, including re-insurance; 
(e) transactions concerning administration of pension funds and obligatory health insurance. 
- The supply of gold from the Bank of Albania an d the second level banks and of banknotes and 
currencies from the Bank of Albania 
- Postal Services 
- Non-profit organizations – the supply of services from religious or philosophical organizations in 
view of spiritual well being 
- Diplomats etc. 
- Hydrocarbon Operations 
- Medicaments and medical equipment 
- The supplies of services of ga mbling, casinos and hippodromes 
The taxable value of supply is the total amount paid to that supply, unless otherwise settled by law no. 7928, 
dated 24 April 1995. 
The imported machinery and the equipment 
For the machinery and the equipment imported by the taxa ble persons in the meaning of this law, in support 
of their economic activity, irrespective of its type, the scheme of the deferral of the VAT payment up to 
12 months, is applicable. According to this scheme, the VAT is not paid at customs at the moment of import. 
The mode of supply covered by this measure; (3) commercial presence of the following: 
 
S/C/N/448 Albania 05.06.08 Ministry of Finance, 
Directorate General of 
Taxation This sub legal governs the relations created in the area of personal income tax, profit tax and the tax 
withheld at source of incomes. 
Tax Rate 
The Legal and physic persons in the Republic of  Albania are subject to the following taxes: 
Type of Tax Tax Rate 
Profit Tax 10% 
Personal Income Tax 10% (see below) 
Source Tax 10% 
 
Profit Tax 
All companies (foreign or not) which are registered in the trade register and pay VAT are subject to the profit 
tax. The Resident taxpayers are subject to taxation only for incomes generated (produced) in the territory of the Republic of Albania. A legal person is considered resident in Albania if: (a) he has a permanent residence (central  offices) in the Republic of Albania 
(b) he has an efficient centre of business management in the Republic of Albania The tax rate for profit tax is 10%.   
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The taxable profit for the tax period is defined based on  the balance-sheet and its annexes which should be in 
conformity with the law no.7661, date 19 January 1993 “On accounting”, with the provisions of this law, as well as with the sub-legal acts issued by  the Ministry of Finance to that end. 
In order to settle the taxable profit in the Republic of Albania, the expenses carried out to profit-seeking, 
profit-security and profit-keeping, in case when th ese expenses are certifie d and documented by the 
taxpayer, as well as when they are subject to restrict ions specified by this law are considered as expenses. 
The basic document used to justify the expenses for tax effect is: VAT tax invoice, the simple tax invoice and 
any other document compiled and issued in conformity wi th the instructions of the Minister of Finance, in 
application of the tax legislation. Source Tax All the residents in the Republic of Albania, central and local government, non-profit organizations and any 
other entity, recognized by the legislation into force, are constrained to withhold the tax at source at 10% from the gross amount of the followi ng payments, generated by a source  in the Republic of Albania: 
Interests 10% 
Share of profit 10% 
Fee for technical, management and financial services, etc.  10% 
Fee for Rent 10% 
Dividend 10% 
Payment for author’s and inte llectual property right 10% 
Taxable Base 
The taxable revenues are fixed based on the balance-sheet and its annexes which should be in accordance with the law no. 7661, date 19 January 1993 “On accounting”, with the provisions of this law, as well as with sub-legal acts issued by the Ministry of Finance to th is end. Gains or other net revenues are the difference 
between the revenues and deductible expenses. The tax ye ar corresponds to calendar year and it commences 
since 1 January and terminates on 31 December. Deductible Expenses As in other countries of the region, the expenses deducted from taxes are those which produce incomes, which ensure and maintain taxable incomes. The expenses are deductible if: 
 They result from economic activities which produc e revenues or if they are related to the usual 
management of the taxpayer’ business activity. 
 They provide sufficient documents which co nfirm the destination of these expenses. 
 They are reflected into the book accounts by reducing the net assets 
Personal Income Tax All individuals, residents in  Albania are subject to taxes for all incomes produced wherever in the world, while 
the non-residents are subject to taxes only for incomes pr oduced within the border of the Albanian territory. 
The mode of supply covered by this measure; (3) commercial presence of the following: Taxation services (8630)  
S/C/N/438 Albania 16.01.08 Bank of Albania The banks licensed from the Bank of Albania have the righ t to do banking activity linked with precious metal. 
The mode of supply covered by this measure: (3) Commercial presence  
Other services auxiliary to financial intermediation n.e.c. (81 339). 
  
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S/C/N/437 Albania 16.01.08 Bank of Albania The purpose of this guid eline is to establish rules, procedures and obligations for the parties when a bank is 
on temporary administration, co nservatorship or receivership.  
 
S/C/N/436 Albania 16.01.08 Bank of Albania The purpose of this regulation is the establishment of the rules relating to the licensing of the savings and 
loan associations which can only carry out activities that  are included in the scope of activity stipulated in 
their statute as well as any othe r similar or related activities. 
 
S/C/N/435 Albania 16.01.08 Bank of Albania The purpose of this regulation is to prevent the use of banks for laundering money a nd financing terrorism, 
and to support the prevention of criminal activities in the economic and financial sector. Money laundering  and financing of terrorism can cause reputation damage, particularly to individual banks and to the overall 
banking system. To avoid such conseq uences, it is essential that the banks apply on a continuous basis the 
highest standards of prev ention and detection. 
 
S/C/N/434 Albania 16.01.08 Bank of Albania Certificate of deposits repr esents a special form of time deposits. They can be issued either as nominal 
certificate of deposits or be arer certificate of deposits. 
The mode of supply covered by this measure: (3) Commercial presence 
a) Other bank deposit services    (81 116) 
 
S/C/N/433 Albania 16.01.08 Bank of Albania Reporting system of the savings and credit associations. 
 
S/C/N/432 Albania 16.01.08 Bank of Albania In these regulation are defined the cr iteria and procedures on the approval of authorized chartered auditors 
being appointed from banks. 
Prudential regulation. 
 
S/C/N/431 Albania 16.01.08 Bank of Albania The purpose of this regu lation is to establish supervision norms for all “non-bank e ntities” that conduct the 
activities provided in paragraph 1.4 of the “Regulat ion on granting a license to non-bank entities for 
conducting financial activity in the Republic of Albania”. 
The mode of supply covered by th is measure: (3) Commercial presence of financial services. 
 
S/C/N/430 Albania 16.01.08 Bank of Albania The purpose of this guideline is to provide recommendations regarding risk management, which risk derives 
from banks position in securities, financial instruments tr ading portfolio, and interest rate fluctuations, as well 
as evaluate banks adequacy and effectiveness in the management of interest rate risk. 
 
S/C/N/429 Albania 16.01.08 Bank of Albania The purpose of this regu lation is to establish the conditions for the foundation, th e exercising of banking 
activities, licensing and supervision of cooperative banks by  the Bank of Albania, as well as the characteristics 
of these banks. The mode of supply covered by this measure: (3) Commercial presence  
a) Other bank deposit services    (81 116) 
b) Mortgage loan services       (81 131) 
c) Personal instalments loan services  (81 132) 
d) Credit card services       (81 133) 
e) Intermediation services n.e.c    (81 199) 
f) Foreign exchange services    (81 133) 
g) Other services auxiliary to financial intermediation n.e.c (81 339)  
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S/C/N/428 Albania 14.01.08 Bank of Albania The purpose of these regulations is to establish a bala nce between the bank’s free activity to invest in the 
equity of commercial companies and it s obligation to comply with certain prudential ratios. Subject to this 
regulation are banks and branches of foreign banks that ex ercise banking activities in  the Republic of Albania. 
The type of measure is prudential  regulation on banking services. 
 
S/C/N/427 Albania 14.01.08 Bank of Albania The purpose of this guid eline is the implementation of an effective internal auditin g system as an important 
factor for the management and admini stration of the banks. Subjects of this instruction are banks and 
branches of the foreign banks that conduct banking busi ness in the Republic of Albania and provides national 
treatment for all banks operating in Albania. The type of measures is prudential regulation.  
S/C/N/426 Albania 16.11.07 Ministry of Health The activities in the health field can be exercised by  natural persons to whom a license is granted. The 
regulation defines the bodies which are involved in the licensing process; Licensing Commission, licensing 
Department and the role and elements a license has and the termination of exercising an activity in health. 
Specific functioning rules for the Commiss ion, Licensing Department, are defined. 
Every applicant, domestic or fo reigner, must follow the same pr ocedure and pay the same fee. 
This measure covers Mode 3 commercial presence in the following sectors: 
8.A. Hospital services (9311) 
8.B. Other human health services (9319, other than 93191) 
1.A.(h). Medical and dental services (9312) 
1.A.(j). Services provided by mi dwives nurses, physiotherapists and paramedical personnel (93191) 
4.A. Commission agent’s services (621) 
4.B. Wholesale trade services (622) 
 The mode of supply covered by this measure is Mode (3) commercial presence and mode (1) cross 
border in the following sub-sector: 
4.C. Retailing services (631+632+633+611+612) 
 
S/C/N/425 Albania 16.11.07 Ministry of Health The activities of pr oduction, manufacturing, wholesal e and retail trade, use of n arcotic plants, substances or 
preparation are permitted only to pers ons that possess a special license for this activities that is issued by, 
the joint Commission of Ministry of He alth, Ministry of Public Order Ministry of Agriculture and Food. It is not 
more stringent than th e previous regulation. 
This measure applies the same way to all applicants This measure covers Mode 3 Commercial presence in: 
4.B. Wholesale trade services (622) and sub sector 4.C. Retailing services (631+632+633+611+612)  
S/C/N/424 Albania 16.11.07 Ministry of Health Any natural and legal person can exercise the activities in wholesale and retail of medicines only after being 
granted the license by the Licensing Commission of th e Ministry of Health. The wholesale of drugs can be 
carried out by persons that have pr emises, equipments and a technical di rector. This last is a graduated 
pharmacist with two years of work experience. The retail is carried out in pharmacies that have a technical 
director, graduated pharmacist with three years of experience, member of Pharmacists Order. The pharmacy 
must be at a distance 100 – 150 m from the nearest pharmacy according to the population density of 
3000 inhabitants per pharmacy in urban areas. The first license is granted for five years and during 
renovation for ten years.  
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The licensing criteria are the same for domestic and foreign applicants 
This measure covers Mode 3 commercial presence in the following sectors: 
4.A. Commission agent’s services (621) 
4.B. Wholesale trade services (622) 
4.C. Retailing services (631+632+633+611+612) 
 
S/C/N/423 Albania 16.11.07 Ministry of Health The decree approved by  the Minister of Health, provides the administrative proced ure of licensing process. It 
defines where the applicants will submit the application for licenses, the validity of the license, the time for submitting the application for renewal, the fee to be paid and the bank where this payment can be done, and 
the authority that informs the interested parties of the licensing procedure. The rules defined are the same for domestic and foreign applicants. 
This measure covers Mode 3 commercial presence in the following sectors: 8.A. Hospital services (9311) 8.B. Other human health services (9319, other than 93191) 1.A.(h). Medical and dental services (9312) 1.A.(j). Services provided by mi dwives nurses, physiotherapists and paramedical personnel (93191) 
4.A. Commission agent’s services (621) 4.B. Wholesale trade services (622)  The mode of supply covered by this measure is Mode (3) commercial presence and mode (1) cross 
border in the following sub-sector: 
4.C. Retailing services (631+632+633+611+612)  
S/C/N/422 Albania 16.11.07 Ministry of Health The opening and closure of hospitals is done by the order of Minister of Health accord ing to criteria defined by 
the Council of Minister. Any physical or juridical person must apply for a licence that is issued by the special 
Licensing Commission of the Ministry of Health 
Specific criteria are defined for issuing the licenses. 
Criteria provided are the same for all applicants 
This Measure covers Mode 3 Commercial presence in: 
8.A. Hospital Services (9312) 
 
S/C/N/421 Albania 16.11.07 Ministry of Health The Council of Ministers defines the levels of transfusion services in health ins titutions according to their 
categorisation. It also defines the co nditions for opening and functioning of blood banks and their opening is 
approved by the Coun cil of Ministers: 
The criteria set forth in this law for thei r opening are the same for every applicant. 
This measure covers Mode 3 commercial presence in the following sectors: 8.A. Hospital services (9311) 8.B. Other human health services (9319, other than 93191)  
S/C/N/420 Albania 13.11.07 Ministry of Labour and 
Social Affairs Law N°. 8492 on Foreigners, Republic of Albania 
This law defines the regime of entry, stay, movement , employment of the foreig ners in the Republic of 
Albania, as well as thei r exit from its territory. 
The mode of supply covered by th is measure: (4) temporary movement of natural persons supplying 
services. 
  
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S/C/N/418 Albania 29.10.07 Telecommunications 
Regulatory Entity This methodology takes part  in FAC or FDC group and this step is  in continuity of rebalancing process 
undertaken by Decision of Council of Ministers No 465, dated 19.07.2001, establishing a relationship between the pond rated average tariffs of se rvices group and relevant costs. 
This sub legal act abrogates the Decision of Coun cil of Ministers No 465, dated 19.07.2001 "on the 
methodology of tariffs regulation of the public  telecommunications operator Alb telecom s.a." 
The mode of supply covered by this measure: (3) commercial presence of the following: C. Public Telephony Services (7521)  
S/C/N/417 Albania 29.10.07 Telecommunications 
Regulatory Entity This sub legal act aims rebalancing of tariffs for the public telephony services  offered by "Alb telecom" s.a. for 
its users including leased lines. This methodology which is "Price Cap" one presents the first measure of 
tariffs regulation for SMP. 
The mode of supply covered by this measure: (3) commercial presence of the following: 
Public Telephony Service (7521) 
 
S/C/N/416 Albania 29.10.07 Ministry of Public 
Works, Transport and Telecommunications, Telecommunications, Regulatory Entity  This law introduce another type of licensing of public telecommunication operators in urban areas, and 
introduce the technologic neutrality principle. This measure covers Mode 3 in the following sectors: 
2.(a) Public local voice telephone service (Urban) (75211)  
S/C/N/415 Albania 29.10.07 Ministry of Public 
Works, Transport and 
Telecommunications, 
and 
Telecommunications 
Regulatory Entity This sub legal act manages different issues in resp ect of maritime radio communications as follows: 
- Planning and harmonization of radiofrequ encies for maritime radio communications; 
- Main categories of licenses; 
- Maritime Account Authority; 
- Global Maritime Distress  and Safety System; and 
- Coordination of maritime activities between international organization (e.g. IMO - International 
Maritime Organization) and Albanian organization. 
The mode of supply covered by this measure; (3) commercial presence of the following: 
C. Other Telecommunications Services (75299) 
S/C/N/414 Albania 29.10.07 Telecommunications 
Regulatory Entity Keeping and administration of users’  data from the public telecommunicat ions operators for the purposes of 
the penal actions. Fixed and mobile public telecommunications operators are forced to take measures in 
registration of all consumers that use prepaid an d post-paid (with subscrip tion contract) services. 
The mode of supply covered by this measure; (3) commercial presence of the following: C. Telecommunications Services (752)  
S/C/N/413 Albania 29.10.07 Ministry of Public 
Economy and 
Privatization (actually 
Ministry of Public 
Works, Transport and 
Telecommunication), 
and The additions and amendments in Deci sion of Council of Ministers No.288, dated 18.06.1999 consist of as 
follow: 
- Stimulation in offering of new services supporting by infrastructure in order to develop the information 
society. The Government engages in drawing up th e policy, and based on it, the legal and sub legal 
acts to guarantee the development of  information society in Albania. 
- Privatization of “Alb telecom” s.a. The Govern ment decides to ask a strategic partner for “Alb 
telecom” s.a., via international opened tender planned to be realized within 2001 year.  
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Telecommunications 
Regulatory Entity - The purchaser of “Albtelecom”s.a shareholders will be granted a license for offering of GSM service. 
- It should be asked by the “Albtelecom”s.a that by th e end of 2004, 5% of its subscriber to be the rural 
ones. This obligation should be foregone with provision of Albtelecom network access via links with 
2 Mbit/s capacities in all communes. This measure will support the rural operators. 
- Granting of radiofrequencies by TRE will be done based in National Radiofrequencies Plan 
The mode of supply covered by this measure; (3) commercial presence of the following: 
Public Telephony Service (7521) 
 
S/C/N/411 Albania 10.10.07 Bank of Albania The purpose of this guideline is to define the calculation method of regulatory capi tal of banks in order to 
cover credit risk. This measure falls under prudential regulation category. 
The mode of supply covered by this measure: (3) Commercial presence 
 
S/C/N/410 Albania 10.10.07 Bank of Albania The purpose of this regulation is to define the fulfil lment of required minimum in itial capital of bank and 
branches of foreign banks licensed before the publication of changes to minimum initial capital by the Bank of 
Albania and to define the amount of capital for banks an d branches of foreign banks that request to exercise 
financial activities in the Republic of Albania. This  measure falls under prudential regulation category. 
The mode of supply covered by this measure: (3) Commercial presence 
 
S/C/N/409 Albania 10.10.07 Bank of Albania The purpose of this regula tion is to provide guidance to credit risk management in o rder for the bank to 
minimize possible losses from loans and other comparable assets susceptible to interest rate fluctuations. This measure falls under prudential regulation category. The mode of supply covered by this measure: (3) Commercial presence 
 
S/C/N/408 Albania 10.10.07 Bank of Albania This regulation specifies the subjects, terms, conditio ns and procedures for the granting of a license to 
conduct activities set out in Article 26 of the Law N° 8365, dated 02.07.1998, "On banks in the Republic of 
Albania", otherwise designated  as "financial activities by non banks subjects". 
The mode of supply covered by this measure: (3) Co mmercial presence related to the following type of 
services: 
a) Other deposit services (81 119) 
b) Financial leasing services ( 81 120) 
c) Mortgage loan services (81 131) 
d) Personal installment loan services (81 132) 
e) Credit card services (81 133) 
f) Intermediation services n. e. c. (81 199) 
g) Financial consultancy services (81 332) 
h) Foreign exchange services (81 333) 
i) Other services auxiliary to financial intermediation (81 339) 
S/C/N/407 Albania 10.10.07 Bank of Albania The scope of this regula tion is to establish requirements regarding professionalism and reputation of persons 
who administer, manage and inspect the bank, as well as restrictions that should be taken into account for 
their appointment or removal from office. The mode of supply covered by this measure: (3) Commercial presence related to banking services 
  
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S/C/N/406 Albania 10.10.07 Bank of Albania This regulation defines the conditions, terms and procedures for the granting of a license to conduct banking 
activity in the Republic of Albania. 
The mode of supply covered by this measure: (3) Commercial presence 
All types of services related to banking 
 
S/C/N/405 Albania 10.10.07 Bank of Albania The purpose of this regu lation is to calculate and control the significant risk for a single beneficiary, to avoid 
the negative financial impact on the bank as a result  of the significant risks on a single beneficiary. 
The mode of supply covered by this measure: (3) Commercial presence 
 
S/C/N/404 Albania 10.10.07 Bank of Albania The purpose of this regulation is the calculation of the Regulatory Capital to cover market risks. Market risks 
shall mean the risk of loss for on and off balance sheet positions as a result of changes in prices of financial 
markets. 
The mode of supply covered by this measure: (3) Commercial presence 
a) Portfolio management services (81 323) 
 
S/C/N/403 Albania 10.10.07 Bank of Albania The purpose of this guid eline is to define the rules with regard to liquidity manage ment by banks. Banks 
should at any time be able to pay off their obligations. Banks' liquidity management involves planning for future inflows and outflows of their financial means. The mode of supply covered by this measure: (3) Commercial presence 
 
S/C/N/402 Albania 10.10.07 Bank of Albania The purpose of this regulation is to determine rules for measuring the open foreign exchange positions of 
banks. These rules are intended to limit the losses of banks from both foreign exchange transactions and 
precious metal ones. 
The mode of supply covered by this measure: (3) Commercial presence 
a) Foreign exchange services (81 333) 
 
S/C/N/401 Albania 10.10.07 Bank of Albania The purpose of this regulation is to establish the ratio between regulatory capital to risk weighted assets and 
off-balance sheet items, referred to as  "the capital adequacy ratio and to set the minimum required limit for 
this ratio, referred to as "the minimum capital adequacy". The mode of supply covered by this measure: (3) Commercial presence 
The type of measure is prudential regulations. 
 
S/C/N/358 Albania 01.11.05 Ministry of Territory 
Planning and Tourism Some supplements and amendments are made to La w No. 8405, dated 17 September 1998 “On urban 
planning”, such as: 
Article 51 of the abovementioned Law has been reformulat ed requiring that any phys ical or juridical person, 
before being granted the license of construction, pay one per cent of the value of the investment that he will 
make in accordance with the projection of the object. This fund is deposited for the financing of the urban 
planning studies in local authorities. 
The physical or juridical person befo re being granted the license of construction, shall also pay one per cent 
of the value of the investment concerning the exploita tion actual engineering network of the water-supply, 
the canalisation, the electric, and the roads. This fund  is used for the reconstruc tion of the infrastructure 
networks by Local Authorities. 
The mode of supply covered by this measure: (3) commercial presence of the following: 
  
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3. A. General construction  work for buildings (512) 
 B. General construction work for civil engineering 
 C. Installation and assembly work (514+516) 
 D. Building completion and finishing work (517) 
 E. Other (511 + 515 + 518) 
 
S/C/N/357 Albania 01.11.05 Ministry of Territory 
Planning and Tourism This law establishes the general rules for the location and the architecture of the constructions in the whole 
territory of the Republic of Albania. For the determination of these rules are taken into consideration: the actual and future social-economic development of the country at national and local levels; the security of the country; the protection of the environment; the preserva tion and presentation of ar chaeological, architectural 
and urban planning values as well as the protection of  the legitimate interests re lated to private property. 
The mode of supply covered by this measure: (3) commercial presence of the following: 1. A. (d) Architectural services (8671).   (e) Engineering services (8672)   (f)  integrated engineering services (8673) 
  (g) Urban planning and landscape  architectural se rvices (8674) 
3. A. General construction  work for buildings (512) 
 B. General construction work for civil engineering 
 C. Installation and assembly work (514 + 516)  D. Building completion and finishing work (517)  E. Other (511 + 515 + 518)  
S/C/N/356 Albania 01.11.05 Ministry of Territory 
Planning and Tourism The designing, supervision, application and test of the construction work fo r objects in the Republic of Albania 
are inspected and disciplined in conformity with the provisions of this law. 
This law is applicable for any designin g and application of the construction wo rk that is carried out by physical 
and juridical persons in the territory of the Republic of Albania. 
In “construction  work”  is comprised any construction work for buildings, civil objects, industrial works, 
infrastructure and other objects. 
Designs  of construction work are made by  a state designer body, or any physical/juridical person being 
provided with the required license. 
Supervisor  of the construction work, appoin ted by the investor can be any ph ysical/juridical persons provided 
with the required license who must not have any relation with the implementator of the object. 
The application  of the construction work is made by any physic al/juridical person provided with the required 
license. 
The test  of the object is effectuated by any physical/juridical person, provided with the required license who 
must not have any relation with the designing, supervising and the application of the construction work of the 
object to be tested. 
The mode of supply covered by this measure: (3) commercial presence of the following: 
1. A. (d) Architectural services (8671). 
  (e) Engineering services (8672) 
  (f) integrated engin eering services (8673) 
  (g) Urban planning and landscape architectural services (8674) 
   Technical testing and analysis services (8676) 
  
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3. A. General construction  work for buildings (512) 
 B. General construction work  for civil engineering (513) 
 C. Installation and assembly work (514+516) 
 D. Building completion and finishing work (517) 
 E. Other (511 + 515 + 518) 
 
S/C/N/355 Albania 01.11.05 Ministry of Territory 
Planning and Tourism This regulation defines: 
I. Types, content and procedures of the preparation of urban planning studies. 
II. Standards, rules and conditions of the planning urban designing. 
III. Roads outside inhabited cent res and constructions alongside 
The mode of supply covered by this measure: (3) commercial presence of the following: 1. A (d) Architectural services (8671)   (e) Engineering services (8672)   (f) Integrated engineering services (8673)   (g) Urban planning and landscape  architectural se rvices (8674) 
3. A. General construction  work for buildings (512) 
 B. General construction work  for civil engineering (513) 
 C. Installation and assembly work (514 + 516)  D. Building completion and finishing work (517)  E. Other (CPC 511 + 515 + 518)  
S/C/N/354 Albania 01.11.05 Ministry of Territory 
Planning and Tourism The supervision of the construction wo rk is effectuated by ph ysical or juridical pers ons provided with the 
required license. The supervisor  is nominated by the investor. 
The supervisor’s name mu st be deposited together with the request for constr uction license. 
The tester can be a physical or juridical person provided  with the required license. He is designated by the 
investor within 30 days from the date that works are finished. 
The mode of supply covered by this measure: (3) commercial presence of the following: 
1. (A) (d) Architectural services (8671) 
  (e) Engineering services (8672) 
  (f) Integrated engineering services (8673) 
   Technical testing and analysis services (8676) 
 
S/C/N/353 Albania 01.11.05 Ministry of Territory 
Planning and Tourism Supplements and amendments to Law No. 8402, dated 10 September 1998 “On the inspection and discipline 
of the construction work”: Article 12/1 is added to Article 12, stating that: At the final stage of the completion of the skeleton, upon the request of the investor and the owner of the 
object, the Real Estate Registration Office proceeds to the temporary registration and issues the respective certificate. “The temporary registration” of the object is done in order to grant credits to investors or to effectuate the registration of preliminary contracts. The required documents for temporary registration are the same for dome stic/foreign investors or owners. 
The mode of supply covered by this measure: (3) commercial presence of the following: 3. A. General construction  work for buildings(512) 
 C. Installation and assembly work (514+516)  
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 D. Building completion and finishing work (517) 
 E. Other CPC (511 + 515 + 518)  
S/C/N/352 Albania 01.11.05 Regulatory Entity of 
Telecommunications The Regulatory Entity of Telecommunication issues this regulation on supplying telecommunication services, 
based on law No. 8618, dated on 4 June 2000 “On telecommunications in the Republic of Albania” and 
Decision No. 288 of the Council of Ministers “On the approval of the telecommunication development policy in 
the Republic of Albania”. 
Except for public telecommunication operators, the telecommunication service suppliers, will be: 
 Resellers of telecommunication services, who have rented lines from Public Operators. 
 Value added services suppliers 
 Intelligent network services suppliers 
 On-line information an d data processing 
 Mobile service suppliers who resell purchased capaciti es from licensed operators of the mobile circuits. 
Any physical or juridical subject registered in the court as a supplier of these services, in conformity with the 
Albanian legislation and provided wi th the due license by Regulatory Entity of Telecommunications can be 
a telecommunication services supplier. 
Technical requirements and licensing procedures are the same for domestic and foreign suppliers. 
The mode of supply covered by this measure: (3) commercial presence of the following: 
C. Other telecommunications services (7529). 
 
S/C/N/351 Albania 01.11.05 Ministry of Transport 
and Telecommunications Point 3,  “The telecommunication market structure”, in paragraph 7 is changed as follows: 
The existing national operator is given an exclusive li mited period during which he is going to invest and 
rebalance tariffs. The point 4, “  Privatisation”, in paragraphs is changed as follows: 
As compensation of the commitments taken, Albtelecom will be given an exclusiv e right to provide public 
national and international telephone services, and publ ic local telephone  services (Urban) based on its 
network until 30 June 2003. 
Point 8,  “Licensing policy for public serv ices” in paragraph 3 is changes as follows: Licensing procedures will 
be applied in accordance with legal pr ovisions in force and when the market  of telecommunication will be fully 
open for competition and the number of licenses for some categories of services will  continue to be limited. 
The mode of supply covered by this measure: (3) commercial presence of the following: C. a) Voice telephone services. (7521)  
S/C/N/350 Albania 01.11.05 Ministry of Transport 
and 
Telecommunications Point 4 “Privatisation”, in paragraph 5 is changed as follows: 
As compensation of the commitments taken, Albtelecom will be given the exclusive right to provide 
international telephone services based on its network until 31 December 2004. 
Point 5 “ Liberalisation”, of initiative 4 is changed as follows: 
International public telephone services will be open to competition in 2005. 
The mode of supply covered by this measure: (3) commercial presence of the following: 
C. a) Voice telephone services. (7521) 
  
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S/C/N/349 Albania 01.11.05 Ministry of Transport 
and Telecommunications No physical or juridical person can provide public telecommunication services within Albanian or between 
Albania and another country without being granted a license issued in accordance with this law. 
In the telecommunication sector licenses are classified: individual licenses and general licenses. 
Individual licenses are classified in two classes: Indivi dual licenses of class 1 are given for providing fixed and 
mobile public telephone servic es in national level. The number of these licenses is defined by the Decision of 
the Council of Ministers. Individual licenses of class 2 are given for providing public  telephone services in the 
rural area, paging services, global service movable co mmunication and any other services using the spectrum 
of radio frequencies. General licenses are granted for internet services, data transmission services, value added services, pubic telephone services using coins or prepaid telephone card s, and any other services th at are not classified in 
the above-mentioned classes. According to this law, indi vidual licenses of class 1 are granted to the subjects 
that win the international open tender by the Regulatory Entity of Telecommunications after the issuing of the Minister’s Order. Individual licences of class 2 and general licences are granted by the Regulatory Entity of 
Telecommunications. Licences are valid for 25 years. Procedures and conditions of licensing are th e same for domestic an d foreign suppliers. 
The mode of supply covered by this measure: (3) commercial presence of the following: C. (a) Voice telephone services (7521).  (b) Packet - switched data transmission services (75231).  (c) Circuit-switched data transmission services (75232).  (d) Telex services (7523)  (e) Telegraph services (7522).  (f) Facsimile services (75211, 7559)  (g) private leased circuit services (7522 + 7523) Other telecommunication services (7529). 
 
S/C/N/346 Albania 27.07.05 Regulatory Entity of 
Telecommunications This document set out procedures, conditions and requir ements on issuing individu al license of the second 
class to supply paging services. 
Individual license of second class to supply paging services is gran ted by the regulatory Entity of 
Telecommunications to any juridical person meeting the conditions set forth in this regulation. Licensing 
criteria and technical requirements are the same for domestic and foreign suppliers. 
The license is valid for a 5 year  period and it is renewable. 
This measure covers Mode 3 in the following sectors: 
2.(b) Paging services (7529). 
 
S/C/N/345 Albania 27.07.05 Regulatory Entity of 
Telecommunications License for data transmission service is classified as general license. Any physical or juridical person meeting 
the conditions set forth in this regulation, has the right to be granted this licence. Licensing criteria and technical requirements are the same for domestic and foreign applicants. 
The license for data transmission service does not includ e the right to offer internet services to which special 
procedures are applied. The license is valid for a 5 year  period and it is renewable. 
This measure covers Mode 3 in the following sectors: 
2.(b) Packet-switch data transmission (75231).  
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S/C/N/344 Albania 27.07.05 Regulatory Entity of 
Telecommunications The Regulatory Entity of Telecommunications defines a Public Telecommunication Operator as an operator 
with significant power in the market if  it meets the following requirements: 
A. The public telecommunication Operator controls 25  per cent of the market of the geographic zone 
where this organization is authorized to operate. 
B. A public telecommunication operator that controls less than 25 per cent of the market can be defined 
as an operator with significant po wer and/or a public telecommunications operator that controls more 
than 25 per cent cannot be define d as such if he meets/does no t meet the following indicators: 
 The value of investment. 
 The incomes of the public telecommunication operator compared with the market size. 
 The experience of the public telecommunication operator and the quality of the services supplied. 
The number of the public telecommunication operators ch aracterized as organization with significant power in 
the market, is not limited. 
This measure covers Mode 3 in the following sectors: 
2. For all sub-sectors of telecommunication services. 
 
S/C/N/343 Albania 27.07.05 Regulatory Entity of 
Telecommunications This regulation determines the procedures, conditions and requirements on issuing licenses for operation in 
the field telecommunications in rural areas in the Republic of Albania. This regulation is based on law No. 8618, dated 4 June 2000 "On telecommunications in the Republic of Albania" and the Decision No. 288 of Council of Ministers, "On the telecommunication develo pment policy in the Republic of Albania", dated 
18 June 1999. Any juridical person meeting the conditions set forth in this regulation, may be granted a license by the Regulatory Entity of Telecommunications as "public telecommunication operator in rural areas". Licensing criteria and technical requirements ar e the same for domestic and foreign applicants. 
The license is valid for a 10 year  period and it is renewable. 
This measure covers Mode 3 in the following sector: 
2. Public local voice telephone services (Rural) (75211). 
 
S/C/N/342 Albania 10.06.05 Ministry of Health The Order of Physicians of Albania is composed of doctors and stomatologists who meet its membership 
requirements and exercise their professions in the Republic of Albania. 
In order to exercise his profession as a doctor or a st omatologist in the Republic of Albania, a foreign citizen 
must become member of the Order of Physicians of th e Republic of Albania, and must observe the Albanian 
Medical Deontological Code and al l Albania's laws and regulations on medical services. The same 
requirements apply to domestic suppliers. 
This measure covers Mode 3 in sector: 1.A.(h) Medical and dental services (9312). 
 
S/C/N/341 Albania 10.06.05 Ministry of Health This law regulates activities in dental services. 
Any juridical or physical person wishing to exercise ac tivities in dental services must hold a professional 
license issued by the Ministry  of Health and Environment. 
Licensing procedures are the same fo r domestic and foreign suppliers  
This measure covers Mode 3 in sector: 1.A.(h) Medical and dental services (9312). 
 
S/C/N/340 Albania 10.06.05 Ministry of Health Article 4.a is added to Article 4, which stipulates: Priv ate health institutions, juridical or physical persons 
wishing to provide private health services must be li censed by the Ministry of  Health and Environment. 
The Council of Ministers and the Ministry of Health and Environment define the necessary rules for the issuing  
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of the professional license in the field of health. 
This measure covers Mode 3 in the following sectors: 
8.A. Hospital services (9311) 
8.B. Other human health services (9319, other than 93191) 
1.A.(h) Medical and dental services (9312) 
1.A.(j) Services provide by midwives nurses, physiotherapists and paramedical personnel (93191) 
 
S/C/N/339 Albania 10.06.05 Ministry of Health Any physical or juri dical person wishing to exercise private activities in disinf ecting (DDD) services must meet 
specific requirements on professional skills, working tools and environment. 
Any juridical or physical person wishing to exercise activities in disinfecting services must hold an import licence issued by the committee set up within the Ministry of Health. The licensing criteria are the same for national and foreign suppliers. 
This measure covers Mode 3 in sector: Disinfecting and exterminating service (87401) 
 
S/C/N/338 Albania 10.06.05 Ministry of Health This regulation establishes the rules for organizing a private microbiologi c laboratory and the conditions for 
obtaining a relevant license. 
Each microbiologic laboratory must hold a license is sued to both the company and the technical manager, 
and its high and medium staff must also be licensed. Licensing procedur es are the same for domestic and 
foreign suppliers. 
This measure covers Mode 3 in sect or: 8.A. Hospital services (9311). 
 
S/C/N/337 Albania 10.06.05 Ministry of Health Any physical or juridi cal person wishing to exercise activities in the field of h ealth must hold a license issued 
by the Special Licensing Commissi on of the Ministry of Health.  
Specific criteria for licence are determined by the Order of the Minister of Health. The licensing criteria set forth in this decision are the same for domestic  and foreign applicants. 
This measure covers Mode 3 in the following sectors: 
8.A. Hospital services (9311); 
8.B. Other human health services (9319, other than 93191); 1.A.(h). Medical and dental services (9312); 1.A.(j). Services provided by mi dwives nurses, physiotherapists an d paramedical  pe rsonnel (93191); 
4.A. Commission agent’s services (621); 4.B. Wholesale trade services (622).  The mode of supply covered by this measure is Mode (3) commercial presence and Mode (1) cross 
border in the following sub-sector: 
4.C. Relating services (631+632+633+611+612) in cluding audio and video records and tapes 
(CPC 63234). 
 
S/C/N/336 Albania 10.06.05 Ministry of Health A five-year license will be granted by the Special Commission for Professional Licenses in the Ministry of 
Health to any physical person (medium medical staf f) whose two-year license has already been renewed 
three times by this Commission. 
This measure covers Mode 3 in sector: 1.A.(j) Servic es provide by midwives nurses, physiotherapists and 
paramedical personnel (93191). 
  
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S/C/N/335 Albania 10.06.05 Ministry of Health Point 3/1 where it reads "A foreign person in cooperation with an Albanian profes sional exercising activities in 
the same field may be granted a licence" is removed. This measure covers Mode 3 in the following sectors: 
8. A. Hospital services (9311) 
8.B. Other human health services (9319, other than 93191) 1.A.(h). Medical and dental services (9312) 1.A.(j). Services provided by mi dwives nurses, physiotherapists an d paramedical  personnel (93191) 
4.B. Wholesale trade services  
S/C/N/334 Albania 10.06.05 Ministry of Health Any physical or juridical person has the right to ap ply for a license to exercise a private profession. 
A foreign person in cooperation with an Albanian profes sional exercising activities in the same field may be 
granted a license. 
Each medical clinic or laboratory, or  e a c h  o p t i c  o r  d e n t a l  l a b o r a t o r y  must hold a license issued to the 
company, and its high and medium staff must also be licensed. Each pharmaceutical store must hold 
a license issued to both the company and the technical manager if the technical manager is the owner of the 
company. 
Any physical or juridical pers on holding a license issued by the Licensing Commission of the Ministry of Health 
must have his license renewed every 2 years for exer cising a private profession or every 3 years for 
a pharmacist. 
This measure covers Mode 3 in the following sectors: 
8.A. Hospital services (9311) 
8.B. Other human health services (9319, other than 93191) 
1.A.(h). Medical and dental services (9312) 
1.A.(j). Services provided by mi dwives nurses, physiotherapists and paramedical personnel (93191) 
4.B. Wholesale trade services 
 
S/C/N/333 Albania 10.06.05 Ministry of Health This law aims at regu lating activities in hospital services in the Republic of Al bania. 
For their services, the public and non-public hospitals en joy the right to make contract with health insurance 
companies, either public or no n public, domestic  or foreign. 
Any juridical person exercising activities in hospital services must hold a license issued in accordance with this law. Any juridical person intending to open a non-public hospit al, or to expand or to change an existing non-public 
hospital, must submit a written request to the Licensing Commission of the Ministry of Health. Licensing procedures are the same for foreign and domestic suppliers. This  measure covers Mode 3 in sector 
8.A. Hospital services (9311).  
S/C/N/332 Albania 10.06.05 The Ministry of 
Transport and 
Telecommunications This law regulates the supply of postal services, the role of the state in postal services, as well as the rights 
and obligations of the operators and users. 
Licensing procedures for foreign suppliers  are the same for domestic suppliers. 
This measure covers Mode 3 in sector: 2.(a) Postal services related to parcels (75112). 
 
S/C/N/331 Albania 10.06.05 Bank of Albania This regulation is issued pursuant to Law No 8269, dated 23 December 1997, “On Bank of Albania” and Law 
No. 8365, dated 2 July 1998, “On banks in the Republic of Albania”.   
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The purpose of this regulation is to establish the rules relating to transactions of the capital and current 
accounts between residents and non- residents, from the territory of Republic of Albania to abroad. 
This measure covers the commitments regarding control on capital transactions and capital movement in the 
horizontal section and Modes 1 an d 2 in the following sectors: 
7.B. (a) Acceptance of deposits and other repayable fund from the public (81115-81119);  (b) Lending of all types, including consumer cr edit, mortgage credit fa ctoring and financing of 
commercial transaction (8113); 
 (c) Financial leasing (8112);  (d) All payments and money transmission services (81339);  (e) Guarantees and commitments (81199);  (f) Trading for own account or for account of cu stomers whether on an exchange, in an over-the 
counter market or otherwise the following:  money market; 
 instruments (checks, bills, certificates and deposits, etc) (81339**); 
 foreign exchange. 
 
S/C/N/330 Albania 03.05.05 Supervisory Authority 
of Insurance The object of this law is to implement general principles and rules with regard to the insurance and 
re-insurance activity, intermediary in  insurance and re-insurance and the supervision by the state of entities 
undertaking to perform the activiti es provided for in this law. 
This law shall be implemented with re gard to the foreign and local undert akings of insurance, re-insurance, 
intermediaries in insurance and reinsurance and branches of foreign companies exercising their activity in the 
t e r r i t o r y  o f  t h e  R e p u b l i c  o f  A l b a n i a ,  a s  w e l l  a s  o f  o p e r a t i o n s  c o n n e c t e d  d i r e c t l y  t o  t h e  i n s u r a n c e  a n d  
reinsurance activity. 
The mode of supply covered by this measure is Mode (1) cross-border supply, Mode (2) consumption abroad 
and Mode (3) commercial presence in the following sub-sectors: 
- Life insurance service (8121) 
- Non-life insurance services 8129 (not includin g marine, aviation and other transport insurance 
services, 81293). 
- Marine, aviation and other tran sport insurance services (81293) 
- Reinsurance and retrocession (81299) 
- Insurance intermediation, such as brokerage and agency (8140) 
- Services auxiliary to insurance, including consulta ncy, actuarial, risk assessment, claim settlement 
(8140) 
 
S/C/N/329 Albania 03.05.05 Supervisory Authority 
of Insurance This law is to determine the rules of organization and functioning of the Supervisor y Authority of Insurance. 
Supervisory Authority of Insurance is a public legal entity, which exercises its activity in accordance with the provision of this law and the effective legislation. Supervisory Authority of Insurance is the only authority licensing  and supervising the insurance, 
reinsurance and intermediary activities, and operators st emming directly from these activities, in accordance 
with provisions of the effective legislation in the field of insurance and reinsurance. Supervisory Authority of Insurance is entitled to issu e regulatory acts for insura nce market in accordance 
with the authorization given by this law and effective legislation in the field of insurance and reinsurance. Supervisory Authority of Insurance is under the author ity of the Council of Ministers and has its seat in 
Tirana.  
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The mode of supply covered by this measure is Mode (1) cross-border supply, Mode (2) consumption abroad 
and Mode (3) commercial presence in the following sub-sectors: - Life insurance service (8121) 
- Non-life insurance services 8129 (not includin g marine, aviation and other transport insurance 
services, 81293). 
- Marine, aviation and transport insurance services (81293) - Reinsurance and retrocession (81299) - Insurance intermediation, such as brokerage and agency (8140) - Services auxiliary to insurance, including consulta ncy, actuarial, risk assessment, claim settlement 
(8140) 
 
S/C/N/324 Albania 05.04.05 Ministry of Territory 
Planning and Tourism This regulation sets forth the criteria and the conditions for the licensing of the tourist accommodation 
activity, and the rights and obligations of the subjects ex ercising this activity, as well as the procedures and 
the responsible administrative departments of licensin g, criteria and norms on the categorization of the 
accommodation units, by "s tars" and "designations". 
Any subject that intends to exercise the above-mentioned activities should get the license before starting the 
activity at the responsible depa rtment in the Ministry of Te rritory Planning and Tourism. 
The juridical person registered as commercial company at the trade registry of the Court of First Instance has 
the right to exercise the tourist accommodation activity if it owns or hires the accommodation unit that is 
previously registered and cate gorized as "tourist building". 
The license for the tourist accommodation activity is vali d for a period of 5 years. The criteria are the same 
for domestic and foreign suppliers. 
The license fee for this activity is 75.000 leke. 
The mode of supply covered by this measure is Mode 3, commercial presence, in the following sub-sector: 
A. Hotel and restaurant services (641, 642, 643) 
 
S/C/N/323 Albania 05.04.05 Ministry of Territory 
Planning and Tourism All the subjects that intend to exercise activities such as the tourist travel agency and tourist transport 
agency must be licensed by the Department of Promot ion and Tourist Standards in the Ministry of Territory 
Planning and Tourism. The licensing criteria set forth in this regulation are the same for domestic and foreign applicants. The license fee for the tourist travel agency and the tourist transport agency  is 25.000 leke for one year and 
60.000 leke for three years. The mode of supply covered by this measure is Mode 3, commercial presence, in the following sub-sector: 
B. Travel agencies and tour operator services (7471)  
S/C/N/322 Albania 05.04.05 Ministry of Territory 
Planning and Tourism This decision determines the division into categories, classification of the accommodation units as follows: 
 
For the hotels and motels with stars,  from "one star" up to "five stars". 
Any tourist accommodation unit must be registered in the Ministry of Territory Planning as a tourist 
accommodation unit and then must be registered in court. These criteria are the same for domestic and 
foreign service suppliers. 
The mode of supply covered by this measure is Mode 3, commercial presence, in the following sub-sector: 
A. Hotel and restaurant services (641, 642, 643) 
  
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S/C/N/321 Albania 05.04.05 Ministry of Territory 
Planning and Tourism Any physical or juridical person that wishes to exercise tourism activities such as travel agency, tourist guide, 
hotel and restaurant activities must be licensed by the Ministry of Territory Planning  and Tourism or bodies of 
the local authorities, in accordance with the respective regulations. 
The mode of supply covered by this measure is Mode 3, commercial presence, in the following sub-sectors: 
A. Hotel and restaurant services (641, 642, 643) B. Travel agencies and tour operator services (7471) C. Tourist guide services (7472)  
S/C/N/200 Albania 13.11.02 Supervisory 
Commission of 
Insurance This regulation sets forth the conditions, deadlines an d procedures on issuing the official authorisation to 
exercise insurance and/or reinsurance activity in the territory of the Republic of Albania. 
The mode of supply covered by this measure: (3) commercial presence. 
The impact of the measure on commitments in the Member's schedule: the measure introduces 
a non-discriminatory system on issu ing the authorisation in relation to insurance and insurance related 
services which are covered by Albanian  Schedule of Specific Commitments: 
 Life insurance services (8121) 
 Non-life insurance services (8129) 
 Marine, aviation and other transport services (81293) 
 Reinsurance and retrocession (81299) 
 
S/C/N/199 Albania 13.11.02 Supervisory 
Commission of Insurance This instruction is prepared based on the Article 45 "I mplementation Acts" of the Law No. 8081 "On Activities 
of Insurance and/or Reinsurance Companies" dated 07.0 3.1996, and aims to define  technical reserves of 
insurance that the insurance and/or reinsurance companies operating in the territory of the Republic of Albania should maintain, and will determine some methods for the calculation of the technical reserves. Also this instruction defines the types of techni cal reserves for insurable risk (non-life). 
 
S/C/N/198 Albania 13.11.02 Supervisory 
Commission of 
Insurance The instruction is prepared based on the Article 46 "Sol vency Margin" of the Law No. 8081 "On Activities of 
Insurance and/or Reinsurance Companies" dated 07.03.1 996. This instruction aims to define the bases on 
which the required level of solvency margin should be calculated, the calculation methods, and the elements 
that are comprised in the solvency margin. 
 
S/C/N/197 Albania 13.11.02 Supervisory 
Commission of Insurance This instruction is prepared based on the Article 45 "I mplementation Acts" of the Law No. 8081 "On Activities 
of Insurance and/or Reinsurance Comp anies" dated 07.03.1996, and aims to define criteria and to give 
general orientations for in surance and/or reinsurance companies to carry out investments covering technical 
reserves. The instruction describes main factors that insurance and/or reinsurance companies should take into consideration during the fulfilment of their investment policy; defines the types of investment that are allowed to be carried out by the insurance and/or rein surance companies; and defines the maximal limits for 
each type of investments of assets covering technical reserves.  
S/C/N/196 Albania 13.11.02 Supervisory 
Commission of 
Insurance This instruction is prepared based on the Article 45 "Implementation Acts" of the Law No. 8081 "On Activities 
of Insurance and/or Reinsurance Companies" dated 07.0 3.1996, and aims to define life insurance reserves 
that the insurance and/or reinsurance companies operatin g in the territory of the Re public of Albania should 
maintain. Also, will be determined some methods for the calculation of these types of reserves. 
  
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S/C/N/195 Albania 13.11.02 Supervisory 
Commission of Insurance This order determines the fees to be paid by the compan ies that apply to obtain o fficial authorisation issued 
by the Supervisory Commission of Insurance, in order to exercise their activity in the territory of the Republic 
of Albania. These fees are the same for domestic/forei gn applicant, as follows: 
 The fee for obtaining the authorisation for exercising the activity is 500.000 Leke 
 The fee for obtaining the authorisation to extend the activity is 100.000 Leke 
 
S/C/N/194 Albania 13.11.02 Supervisory 
Commission of 
Insurance This decision is based on  the Article 48 "Warranty Fund" and Article 49 "Financial Recovery" of the Law 
No. 8081 dated 07.03.1996 "On Activities of Insurance and/or Reinsurance Companies" and defines the 
minimum levels of warranty fund fo r different activities of insuranc e and/or reinsurance companies. 
 
S/C/N/165 Albania 20.07.01 Bank of Albania  Decision No. 105, dated 26 December 2000, "On some changes of the Regulation RD/1998 on Reserve 
Requirements of Monetary Deposits (liabilities agains t third parties) in Leks and in foreign currency". 
Description: 
Item 3 of the regulation, paragraph 3: The requirement reserve in foreign currency, since 1 Ja nuary 2001 will be maintained only in US dollars and 
in EURO. Paragraph 5: As a result of the reserve requiremen ts in foreign currency, in the Bank of Albania will be maintained current 
accounts only in US dollars and in EURO. The calculation of the Reserve Requirements: (a) one half (1/2) [second ] of the yield of the tr easury bonds three-monthly maturated in the latest 
auction before the day when the reserve requirements begins to be preserved; 
(b) one half (1/2) [second] of the interest,  LIBOR for the monthly term deposits in American do llars and EURO, at the day when preserving of the 
reserve requirements in foreign currency begins. 
 
S/C/N/164 Albania 20.07.01 Bank of Albania Decision No. 102, dated 19 December 2000, approving the regulation "On Administration of the Reserve 
Account in Leke by the Commercial Banks, in the Bank of Albania". 
Description: 
The regulation "Maintaining the Reserve Account in Leke  by the Commercial Banks, in the Bank of Albania" 
aims supervising and administration of rese rve account by fulfilling these objectives: 
- maintaining the minimal eligible level of the reserve account at the end of the working day equal to 
95 per cent of the re serve requirements. 
- regulating the relations between the Bank of Albania and the Commercial Banks, as well as regulating 
the administrative relations within the departments of the Bank of Albania in relation to the 
administration of this account; 
- minimising the liquidity risk thro ugh supervising and admini stration of the statem ent of reserve account 
during the working day. 
This regulation abrogates the regulati on "On Transactions concentration of  commercial banks' accounts near 
to the Department of Payments" approved by the Decision No. 9 dated 26 February 1998; the instruction 
No. 31 dated 18 March 1999 "On Unification of current  account with reserve requirements' account, in 
one single account in Leke, of the commercial banks"; as  well as the "On some changes in the instruction for 
unification of current account with the account of rese rve requirements of the commercial banks" approved 
by the Decision No. 55 dated 21 June 2000.  
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S/C/N/163 Albania 20.07.01 Bank of Albania Decision No. 101, date d 19 December 2000, approving the regulation on "Electronic Pa yments". 
Description: 
The regulation "On Electronic Payments" aims modernization of Payments System in the Republic of Albania. 
This regulation sets forth main principles on electronic instruments of the payments that will be issued by the 
Bank of Albania. This regulation will be applied to the following operations: 
- electronic payments that include using of  a card, specially at the point of sale; 
- attracting the banknote, deposit of the banknote and the checks, as well as the operations related to 
the electronic equipment such as cash distribution machines and automated counting machines; 
- non-electronic payments by card that includ es procedures requiring signing and presenting 
a document, but without including those kinds of cards that guarantee the payment carried out by check; 
- electronic payments carried out by a person without using the card su ch as home banking. 
 
S/C/N/162 Albania 20.07.01 Bank of Albania Decision No. 67, dated 19 July 2000, approving some changes of the Regulation "On Repurchasing 
Agreement and Reverse Repurchasing Agreement ". 
Description: 
The item 1.5 of the above-mentioned regulation "the Interest Rate of the Repurchasing Agreement" will be 
changed as follows: 
The interest rate for the repurchasing agreement and fo r the reverse repurchasing agreement will be higher 
than minimal interest rate of the three monthly maturated deposits defined by the Bank of Albania. The 
interest rate that will be used in  the repurchasing agreement and in th e reverse repurchasing agreement will 
be proposed by the Department of Monetary Operations and will be approved by the Governor of the Bank of 
Albania. 
 
S/C/N/161 Albania 19.07.01 Bank of Albania Decision No. 64, dated 19 July 2000, "On some changes of the Regulation RD/1998 on R emuneration of the 
Reserve Requirements of the Commercial Ba nks preserved in the Bank of Albania". 
Description: 
The last paragraph of item 4 of the Regulation RD/19 98 "On Reserve Requirements of monetary deposits 
(liabilities against third parties)  in Leks and in foreign currenc y" will be changed as follows: 
The calculation of the Reserve Requirements: The paid interest for the Reserves Requirements of th e commercial banks preserved in the Bank of Albania 
are considered as remuneration. Th e remuneration of the Reserves Requirements will be calculated: 
a) one-third (1/3) of the treasury bonds three-monthly maturated in the latest auction before the day 
when the reserve requirements begins to be preserved; 
b) one-third (1/3) of the interest: 
- LIBOR for the monthly term deposi ts in American dollars and EURO, 
- ATHIBOR for the monthly term deposits in Greek  dhrami, at the day when preserving of the 
reserve requirements in foreign currency begins. 
 
S/C/N/160 Albania 19.07.01 Bank of Albania Decision No. 62, dated 05 July 2000 "On Approving of Handbook of Bank Examination – "CAMELS" 
Classification System and on Establishi ng of Banking Supervisory Committee". 
T h e  " CA M E LS " s y s t e m  w i l l  be  p a r t  o f  t h e  h a n d b o o k  approved by the Supervisor y Council by the Decision 
No. 3/1/1997 date 16.01.1997 that is still in force. This is an internal classification supervisory system for the  
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supervisory off-site and on-s ite, that will be used by the Department  of Banking Supervision of the Bank of 
Albania on evaluation of the progress of the financial in stitutions (bank and non-bank institutions) in order to 
identify that institutions needs an addition al attention by the su pervision department. 
By using the "CAMELS" system, each financial institution will be given a composite classification based on 
six essential components: capital adequacy, assets quality, adequacy and quality of management, level and 
quality of profits, adequacy of liquidi ty and sensitiveness of market risk. 
This decision establishes the Banking Supervision Comm ittee, its task and functi ons are approved by the 
Governor of the Bank of Albania. 
 
S/C/N/159 Albania 19.07.01 Bank of Albania Decision No. 61, dated 05 July 2000 "On Approving of Instruction on Risk Management of Interest Rate". 
Description: 
This instruction gives recommendations for commercial bank s that exercise their activity in Albania, on risk 
m a n a g e m e n t  t h a t  i s  a  r e s u l t  o f  b a n k  p o s i t i o n ,  a s s e t s , liabilities and the off-bala nce items, related to the 
interest rate fluctuation of the evaluation by the bank of  the adequacy and effectively of the interest rate risk 
management.  
S/C/N/158 Albania 19.07.01 Bank of Albania Decision No. 60 dated 05 July 2000 on approving of the "Regulation on ‘Supervisory’ norms for the non-bank 
institutions that exercise financial activities". 
This regulation introduces the supe rvisory norms for the non-bank instit utions. These norms are related to 
eligible operations, capital adequacy ratios, quality of the assets, the norms of spreading the risk, liquidity 
ratios, and the reporting of the non-bank institutions to the Bank of Albania. 
 
S/C/N/157 Albania 19.07.01 Bank of Albania  Decision No. 54, date 21 June 2000 approving "Some Ch anges of the Regulation for the Auctions of the 
Repurchasing Agreements". 
Description: 
"If, because of the participation in  the auction of the repurchasing agreements, the Reserve Account of the 
commercial bank falls under the level of 95 per cent of  the Reserves Requirement, than for this bank is 
accorded automatically a one-day's credit in an interest  equal to the level of the accepted weighted average 
interest of the 3-monthly treasury bonds in the last  auction of the primary market, plus 5 per cent." 
 
S/C/N/156 Albania 19.07.01 Ministry of Education 
and Science  Decision of the Government No. 156 date 22.03.2001 “On Non-Public Higher Education in the Republic 
of Albania”; 
 The decision introduces the licensing requirements for foreign as well as fo r domestic suppliers of 
higher education services; 
 The mode of supply covered by the measure: (3) commercial presence; 
 The impact of the measure on commitments in the Member’s schedule: the measure introduces 
a non-discriminatory system of licen sing in relation to higher education services (CPC 923) covered by 
the schedule of specific commitments of Albania. 
 
S/C/N/155 Albania 19.07.01 Ministry of Health  Order of the Minister of Health No. 94, date 28.02.2001 “On Licensing of Private Activity in the Field of 
Stomatology”; 
 The order introduces two licensing requirements for foreign as well as for domestic suppliers that 
exercise activity in the field of distribution serv ices of dental apparatus and dental materials;  
 The mode of supply covered by the measure: (3) commercial presence;  
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 The impact of the measure on commitments in the Member’s schedule: the measure introduces 
two non-discriminatory requirements of licensing in relation to wholesale trade services of dental 
apparatus and dental materials (CPC 62251 & 62252) co vered by the schedule of specific commitments 
of Albania. 
 
S/C/N/464 Armenia 14.07.08 Public Services 
Regulatory 
Commission of the 
Republic of Armenia Decree of the Public Services Regulatory Commission of the Republic of Armenia No. 272-N of 20 May 2008 
"On Approval of the Telephone Services Provisio n and the Rules for the Use of those Services". 
These rules set out the order of provision of telephon e services by public communication binded networks 
with use of numbering plan numbers of codes and regu late relations between the service provider and the 
user of this service. 
The mode of supply covered by this measure: (3) commercial presence. 
 
S/C/N/447 Armenia 04.06.08 Central Bank of the 
Republic of Armenia Law No. HO-177-N "On Insurance and Insurance Activities" of the Republic of Armenia. 
This Law regulates relations associated with the taking up and pursuit of insurance, reinsurance and insurance mediation activities, establishment, licensing, operation and termination of operation of insurance, reinsurance companies and insurance intermediaries, as well as state supervision over insurance, reinsurance, insurance mediation activi ties and other relations associated with insurance in the Republic of 
Armenia. The mode of supply covered by this measure: (3) commercial presence. 
 
S/C/N/439 Armenia 28.01.08 Ministry of Foreign 
Affairs Law No. HO-47-N "On Aliens" of the Republic of Armenia. 
The law regulates the relations with regard to entry, stay and residing of aliens in th e territory of the Republic 
of Armenia, transit traffic through the territory of the Republic of Armenia, exit from the Republic of Armenia, 
as well as other relations wi th respect to the aliens. 
The mode of supply covered by th is measure: (4) temporary movement of natural persons supplying 
services. 
 
S/C/N/389 Armenia 16.02.07 The Ministry of 
Transport and Communications of the Republic of Armenia The mode of supply –  The supply of a service by a service supplier of one Member through commercial 
presence in the territory of any other Member. 
Some amendments have been made in the Law "On Licensing" of the Republic of Armenia. In particular, provisions concerning telecommunication sector in Article 43 have been changed by the following:      
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N Type of activity subject to licensing Licensor Type of a license Area Expertise 
requirement By tender Qualification 
requirements Reporting 
requirements Requirement for 
location 
 10. Telecommunication (ELECTRONIC 
COMMUNICATION) Sector          
1 Public electronic communication network PSRC C A E - Q R L 
2 Rendering of sound services PSRC S A - - Q R L 
3 Rendering of the mobile communication 
services PSRC S A - - Q R L 
4 Rendering of telegraphic communication 
services PSRC S A - - Q R L 
5 Rendering of the data transmission and 
internet availability services PSRC S A - - Q R L 
6 Broadcasting of radio-television programs SCRT C - - T - - L 
 
Where: - PSRC – Public Services Regulatory Co mmission of the Republic of Armenia 
- SCRT – State Commission on Radio and Television of the Republic of Armenia - C – licence issued through compound (non-automatic) procedure - S – licence issued through simple (automatic) procedure - A – types of activities designated with the letter "A" in column five of the table shall not  require any 
license, if such activities are performed for a non-entrepre neurial (economic) purpose. 
- E – expert conclusions for goods, objects, equipm ents or documents submitted for licensing may be 
required by the law or lice nsing procedure only for types of the activities designated with the letter "E" 
in column 6 of the table. 
- T – the license for types of activities designated with the letter "T" in column 7 of the table shall be issued 
only through a tender. 
- Q – the testing of professional qualification of natural persons may be carried out only for issuing a license 
for type of the activities designated with the letter "Q" in column 8 of the table. 
- R – the licensors shall have the right to demand reports or information related to the licensed activity only 
from the licensees performing types of the activities designated with the letter "R" in column 9 of the table. 
- L – only the licensees performing types of the activities designated with the letter "L" in column 10 of the 
table are obligated to perform activities subject to licensing only in the location stated in the license.  
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S/C/N/237 Armenia 10.11.03 Ministry of Trade and 
Economic 
Development of the 
Republic of Armenia Measure: 
Draft of Decree of the Government of Republic of Armenia on making amendments to the Decree of the 
Government of the Republic of Armenia No 239 of 12 May 2000 “On compulsory conformity assessment of 
products and services in the Republic of Armenia”. 
Description: 
Draft modifies the list of products and services subject to compulsory conformity assessment in the Republic 
of Armenia. Laundry and processing of linen, hair cu tting and beauty salon servic es are added to the list, 
consisting of catering services, dry cleaning and colo uring of the clothes. Mode of supply covered by the 
measure: commercial presence. Draft ensures safety  requirements for the ab ove-mentioned services. 
 
S/C/N/542 Australia 01.04.10 Australian 
Department of the Treasury  
 Foreign Acquisitions and Takeovers Amendment Regulations 2009 (No. 1)   
Australia has amended its foreign investment screening framework, as set out in the Foreign Acquisitions and 
Takeovers Act 1975 , the Foreign Acquisitions and Takeovers Regulations 1989 and Australia’s foreign 
investment policy, to exempt private foreign investment proposals to acquire interests in Australian companies and businesses valued below $219 million from fo reign investment screening. The previous lowest 
threshold was $100 million. The new threshold will be in dexed on 1 January each year to keep pace with 
inflation. The monetary threshold for 2010 is $231 million. The measure also removes the need for private foreign investors to notify the Treasurer when  they establish a new business in Australia. 
 
S/C/N/541 Australia 01.04.10 Australian 
Department of the 
Treasury  
 Foreign Acquisitions and Takeovers Amendment Act 2010  
Australia has amended its foreign investment screening regime to take into account the prevalence of 
innovative financing arrangements such as convertible notes. The measure clarifies that foreign investors are 
required to notify the Treasurer where there is a possibility that the type of arrangement being used will 
deliver influence or control over an  Australian company, either currentl y or at some time in the future. 
 
S/C/N/540 Australia 01.04.10 Australian 
Department of the 
Treasury Financial Sector Legislation Amendment (Discretionary Mutual Funds and Direct Offshore Foreign Insurers) 
Act 2007 
Any foreign-incorporated insurers seeking to carry on  general insurance business  in Australia, whether 
directly or through the actions of an intermediary, ar e required to become authorised under the Insurance 
Act 1973, and comply with Australia’s general insuranc e prudential regime. Foreign-incorporated insurers 
need to satisfy the same authorisation criteria as that of a locally incorporated general insurer in order to gain approval by the Australian Prudential Regulation Au thority. The reforms relate to non-life insurers only. 
 
S/C/N/103 Australia 02.06.99 Australian Film 
Commission  
 Bilateral Film Co-Production Agreements between Australia and Israel, and Australia and Ireland. 
Under these agreements, films made by Australian na tionals and nationals of Ireland or Israel may be 
certified as official co-productions. The competent auth orities of each country, acting jointly, may approve 
a co-production film which complies with the requiremen ts set down in the annexes to the agreements. When 
productions are certified as official co-productions, each participating country is obliged to provide its 
nationals in conjunction with the nationals of the other country, all the benefits which are or may be accorded 
to national films. Each participating country is also obliged, subject to its laws, to facilitate temporary 
admission of cinematographic equipmen t for the making of co-production f ilms, and to permit nationals and 
citizens of the country of the co-producer to enter and remain in each participating country for the purpose of 
making or exploiting a co-production film.  
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S/C/N/579 Bahrain, 
Kingdom of  04.02.11 Central Bank of 
Bahrain Decree No. (64) of 2006 "The Central Bank of  Bahrain and Financial Institutions Law." 
The CBB law established the Central Bank of Bahrain as  the successor organization of the Bahrain Monetary 
Agency. It also set out the CBB's mandate, govern ance, and powers. The CBB law provides enhanced 
enforcement powers to the CBB as well as reinforces its operational independence. Also it has an expanded 
range of powers with respect to the regulation of capi tal markets and the offering of securities, including the 
creation of the statuary offence of  insider trading and market abuse. 
 
S/C/N/556 Barbados 03.06.10 Telecommunications 
Unit in the Ministry of 
Finance, Investment 
Telecommunications 
and Energy; 
Fair Trading 
Commission Telecommunication Services 
Mobile (terrestrial and satellite bases) 
- Cellular/mobile telephone 
- mobile data services 
- personal communications services 
- paging 
Fixed Satellite Services 
- VSAT services ( for non-public use) 
Full liberalization of these services since 21 February 2005. 
Persons desirous of providing telecommunications serv ices must apply to the Chief Telecommunications 
Officer on the prescribed forms to own and operate a telecommunications network. Service Provider and 
Network Carrier Licences are required. If the network uses spectrum, then a Spectrum Licence is required. 
 
S/C/N/555 Barbados 03.06.10 Telecommunications 
Unit in the Ministry of Finance, Investment; Telecommunications and Energy Telecommunication Services 
- Telecom equipment sales - Rental, maintenance - Connection - Repair and consulting services (7541,7545) Full liberalization of these services since 21 February 2005. 
Persons desirous of providing public telecomm unications services must apply to the Chief 
Telecommunications Officer on the prescribed forms. Persons desiro us of offering sale of equipment and 
service must comply with the Technical Standards for Telecommunications Equipment and Technicians in accordance with Part XI of the Telecommunications Act Cap282B. 
 
S/C/N/554 Barbados 03.06.10 Telecommunications 
Unit in the Ministry of 
Finance, Investment 
Telecommunications 
and Energy; 
Fair Trading 
Commission Telecommunication Services 
Internet and internet access services 
Full liberalization of these services since 21 February 2005. 
Persons desirous of providing publ i c  i n t e r n e t  a n d  i n t e r n e t  a c c e s s  s e r v i c e s  m u s t  a p p l y  t o  t h e  C h i e f  
Telecommunications Officer on the pr escribed forms Internet  and Internet Access Se rvices for Value Added 
Individual and Value Added Class Licences. 
S/C/N/553 Barbados 03.06.10 Telecommunications 
Unit in the Ministry of Finance, Investment Telecommunications Telecommunication Services for Non- Public Use (i.e. closed user grou p, on a non-facilities basis): 
a) Voice telephone services (7521); b) Packet-switched data transmission service (7523); c) Circuit-switched data transmission services (7523); d) Telex service (7523); e) Telegraph Services (7522); f) Facsimile services (7521, 7529); h) Electronic mail (7523); i) Voice mail (7523); j) On-line information and database  
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and Energy; 
Fair Trading Commission retrieval (7523); k) Electronic data interchange; l) Enhance/value-added facsimil e services, incl. store and 
forward, store and retrieve (7523); m) Code and protocol conversion; n) On-line information and/or data processing (incl. transaction processing) (843); 
Full liberalization of these services since 21 February 2005. 
Persons desirous of providing private telecomm unications services must apply to the Chief 
Telecommunications Officer on the prescribed forms to own and operate a tele communications network. 
Service Provider and Network Carrier Licences are requ ired. If the network uses spectrum, then a Spectrum 
Licence is required.  
S/C/N/552 Barbados 03.06.10 Telecommunications 
Unit in the Ministry of 
Finance, Investment 
Telecommunications 
and Energy; 
Fair Trading 
Commission 
 Telecommunication Serv ices for Public Use 
a.) Voice telephone services (7521); b.) Packet-switc hed data transmission service (7523); c.) Circuit-
switched data transmission services (7523); d.) Telex service (7523); e.) Telegraph Services (7522); 
f.) Facsimile services (7521, 7529); g.) Private lease circuit services (7522,7523) 
Full liberalization of these services since 21 February 2005. 
Persons desirous of providing public telecomm unications services must apply to the Chief 
Telecommunications Officer on the prescribed forms to own and operate a tele communications network. 
Service Provider and Network Carrier Licences are requ ired. If the network uses spectrum, then a Spectrum 
Licence is required. 
 
S/C/N/390 Bolivia, 
Pluri-national State of 02.03.07 Banking and Financial 
Entities Superintendency (SBEF) The system whereby banks established abroad were au thorized to open agencies in Bolivia has been 
repealed. This measure affects Mode 3 commitments in sector 7 "Financial Services", subsector B "Banking Services". Foreign exchange offices have been excluded from the sc ope of the Banking and Financial Entities Law. This 
measure affects Mode 3 commitments in sector 7 "Fin ancial Services", subsecto r B "Banking Services". 
Credit information offices and clearing houses have be en included in the scope of the Banking and Financial 
Entities Law as companies offering auxiliary financial services. This measure affects Mode 3, paragraph (c) 
commitments in sector 7 "Financial Services", subsector B "Banking Services". 
General deposit warehouses that are not subsidiaries of banks have been excluded from the scope of the 
Banking and Financial Entities Law. This measure affe cts Mode 3, paragraph (c) commitments in sector 7 
"Financial Services", subsector B "Banking Services".  
S/C/N/236 Bolivia, 
Pluri-
national 
State of 10.11.03 Superintendency of 
Telecommunications Modifications to telecommunications legislation: 
Law No. 2342, enacted on 26 April 2002, amending the Telecommunications Act 
Regulations on Penalties and Special Procedures for Violations of the Legal Regulatory Framework of the 
Telecommunications Service, approved on 20 October 2000 by Supreme Decree No. 25950 
Billing, Collection and Disconnection Regulations. Amendments to the Telecommunications Regulations 
approved on 17 November 2001 by Supreme Decree No. 2641 
Market Opening Plan for the Tele communications Sector, approved on 30 November 2000 by Supreme 
Decree No. 26005 
Interconnection Regulations, approved on 1 December 2000 by Supreme Decree No. 26011 
  
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S/C/N/235 Bolivia, 
Pluri-national 
State of 10.11.03 Vice-Ministry of 
Tourism Tourism: 
Law No. 2074, Law on the Promotion and Development of the Bolivian Tourism Industry of 14 April 2000 
Supreme Decree No. 26085, Regulatory Decree to Law No. 2074 of 23 February 2001 
Regulations Governing the Establishment of Tourist Accommodation, Ministerial Resolution No. 185/01 
Regulations Governing Receptive Tourism Operators and Travel and Tourism Companies. Ministerial Resolution No. 133/01 Tourist Police Regulations, Ministerial Resolution No. 134/01 Regulations Governing Vehicle Leasing Companies, Ministerial Resolution No. 135/01 Tourist Guide Regulations, Ministerial Resolution No. 136/01 Regulations on Tourist Restaurants and Folkloric Groups, Ministerial Resolution No. 137/01  
S/C/N/493 Brazil 28.04.09 Central Bank of Brazil Resolution No 3.456 – sets out guidelines for the application of technical reserves as well as other funds and 
resources by private closed pension funds. Resolution No. 2829 notified by S/C/N/143, on 4 May 2001, has 
been revoked. 
 
S/C/N/492 Brazil 29.04.09 Comissão de Valores 
Mobiliários – CVM (Securities Commission of Brazil)  CVM INSTRUCTION N. 409, of 18 August 2004 – Provides for the constitution, administration, functioning and 
disclosure of informatio n by investment funds. 
S/C/N/154 Brazil 04.05.01 Central Bank of Brazil Resolution No. 2.465 – re-defines operational leasing, modifying Article 6 of Resolution No. 2.309 of 
28 August 1996. 
 
S/C/N/153 Brazil 04.05.01 Central Bank of Brazil Resolution No. 2. 592 – makes provisions on the representation, within Brazil, of financial institutions or 
similar institutions with head office abroad. Comp lementary norms were established by Central Bank 
Circulate No. 2.943 of 20 October 1999. 
S/C/N/152 Brazil 04.05.01 Central Bank of Brazil 
 Resolution No. 2.624 – regulates the constituti on and functioning of investment banks. 
S/C/N/151 Brazil 04.05.01 Central Bank of Brazil Resolution No. 2.645  – sets out requirements for the fulfilment of positions i n statuary bodies of financial 
institutions and other institutions authorized to operate by the Central Bank. Complementary norms were established by Central Bank Circular  No. 2.932 of 30 September 1999. 
S/C/N/150 Brazil 04.05.01 Central Bank of Brazil Resolution No. 2.676 – allows financial institutions and ot her institutions authorized to operate by the Central 
Bank to use services supplied by en tities dedicated to the disseminatio n and negotiation in Brazil of firm 
prices and offers involving assets negotiated in the financial and capital markets, as well as quotations of 
operations made in these markets, by me ans of electronic communication networks. 
 
S/C/N/149 Brazil 04.05.01 Central Bank of Brazil Resolution No. 2.686 – establishes conditions for the granting of credits orig inating from operations of 
financial institutions and leasing companies to non-financial entities and specific purposes companies.  
S/C/N/148 Brazil 04.05.01 Central Bank of Brazil 
 Resolution No. 2.707 – establishes conditions for the hiring by financial institutions of correspondents in 
Brazil.  
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S/C/N/147 Brazil 04.05.01 Central Bank of Brazil 
 Resolution No. 2.735 – regulates the constitution and functioning of savings and loan companies. 
S/C/N/146 Brazil 04.05.01 Central Bank of Brazil 
 Complementary Law No. 105 – makes provisions on the secrecy of the operations of financial institutions. 
S/C/N/145 Brazil 04.05.01 Central Bank of Brazil Law No. 10.194 – prov ides for the constitution of small entrepreneur finance c ompanies (new modality of 
financial institution). 
Resolution No. 2.627 – regulates th e constitution and the functioning of small entrepreneur finance 
companies. Complementary norms were established by Central Bank Circulars No.2.915 of 5 August 1999, and No. 2.964 of 3 March 2000.  
S/C/N/144 Brazil 04.05.01 Central Bank of Brazil Resolution No. 2.817 – regulates the opening and operat ion of deposit accounts exclusively by electronic 
means. 
S/C/N/143 Brazil 04.05.01 Central Bank of Brazil Resolution No. 2.829 - sets out guidelines for the application of technical re serves as well as other funds and 
resources by private closed pension funds.  
S/C/N/679 Canada 26.02.13 Industry Canada Measure: 
Jobs, Growth and Long-term Prosperity Ac t, Bill C-38. Part 4. Division 41 
Description: 
Changes to the Telecommunications Act were introduced through Bill C-38, Part 4, Division 41 to liberalise 
foreign investment in the telecom sector. Limits on foreign investment were lifted for telecom companies that 
have a market share of no more than 10%, measured by revenue. 
 
S/C/N/90 Canada 14.12.98 The Office des 
professions du Québec & the individual Professional Orders. The Code des Professions  regulates forty-three (43) professions. The amended Code des Professions  
(L.R.Q. c. C-26) does not require ci tizenship for accreditation as one of the twenty-three (23) designated 
professionals governed by the Code, nor for use of any of the twenty (20) professional titles. The amended 
legislation applies uniformly to all professions under the umbrella of the Code des Professions  and came into 
force on the 15th of October, 1994. The modes of supply affected by the amendment(s) are cross-border supply, consumption abroad and th e movement of natural persons. 
The citizenship requirement for accreditation in Québec for the following professions has been removed. The 
page numbers refer to Cana da's schedule of specific commitments (GATS/SC/16): 
chartered accountant [CPC 862; Article XVI - Market Access; Modes 1, 2 & 4; p. 18-9], lawyer [CPC 861; Article XVI - Ma rket Access; Mode 4; p. 16], 
architect [CPC 8671; Article XVI - Market Access; Modes 1 & 4; p. 20], agrologist [CPC 86509; Article XVI - Market Access; Modes 1, 2 & 4; p. 30-1], land surveyor [CPC 86753; Article XVI - Market Access; Modes 1, 2 & 4; p. 35-6], professional technologist [CPC 86729; Articl e XVI - Market Access; Mode 1; p. 35], 
subsurface surveyor [CPC 86752; Article XVI - Market Access; Modes 1, 2 & 4; p. 35-7] or chemist [CPC 86761; Article XVI - Market Access; Modes 1 & 4; p. 35-7] Additionally, the following market access limitations which indicate that Québec requir es citizenship for use of 
title are no longer in force: urban planner [CPC 8674; Article XVI - Market Access; Modes 1 & 4; p. 24], chartered appraiser [CPC 822; Article XVI - Market Access; Modes 1 & 4; p. 27-8],  
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chartered administrator [CPC 86501 & 2; Article XVI - Market Access; Modes 1 & 4; p.30-1], 
certified management consultant [CPC 865; Article XVI - Market Access; Modes 1 & 4; p. 30-1], industrial relations counsellor [CPC 86504; Article XVI - Market Access; Modes 1 & 4; p. 30-1], 
professional technologist [CPC 86729; Articl e XVI - Market Access; Mode 4; p. 37], 
certified interpreter [CPC 87905; Article XVI - Market Access; Modes 1, 2 & 4; p.39-40] or certified translator [CPC 87905; Article XVI - Market Access; Modes 1,2 & 4; p. 39-40]  
S/C/N/89 Canada 14.12.98 The Institute of 
Chartered 
Accountants of Prince 
Edward Island 
(ICAPEI) There is no residency requirement to become accredited as a public or chartered accountant in Prince Edward 
Island. Mode of supply affected is cross-border supply. 
Individuals who wish to perform publ ic accounting activities must be members of the Institute of Chartered 
Accountants of Prince Edward Island, but do not require a licence to practise as such. Those who wish to 
perform the audit and review services customarily provided by public account ants will only be required to pay 
the fees applicable to  a practising member. 
 
S/C/N/88 Canada 14.12.98 The Nova Scotia 
Barristers Society An Act to Amend Chapter 30 of the Revised Statutes, 1989, the Barristers and Solicitors Act and Chapter 58 
of the Revised Statutes, 1989, the Cape Breton Barristers Society Act  entered into force on 11 January 1996. 
The sole mode of supply affected by the amendments is  commercial presence, which will no longer be limited 
to sole proprietorships and partnershi ps in the province of Nova Scotia. 
Specifically, Section 5A was added to the Nova Scotia Barristers and Solicitors Act , under which law firms can 
incorporate subject to certain conditions. Clause 5A(7)(a) requires, all issued voting shares shall be legally and beneficially owned by one or more practising members or by a trust of which all the trustees and all the beneficiaries are practising members. Practising member  is defined by the Act as a person who is a member 
of the Nova Scotia Barristers Society and entitled to prac tise as a barrister in the province of Nova Scotia. In 
addition, 5A(7)(b) states, all issued non-voting shares, if any, shall be legally and beneficially owned by 
prescribed persons or by a trust of which all the truste es and all the beneficiaries are prescribed persons. The 
Act further defines the term prescrib ed person as a person prescribed  by Regulation 60 (Definition of 
prescribed persons). Also, 5A(8) says that all officers and directors of a law corporation shall be practising 
members. Section 5A consists of sixteen (16) different  subsections and includes many other conditions for 
incorporation, but those stipulated above represent the more stringent requirements. 
 
S/C/N/87 Canada 14.12.98 The Law Society of 
New Brunswick In April of 1996, proposed amendments to the Law Society Act  of New Brunswick received assent and 
became effective on 1 January 1997 after being proclaimed into force. The single mode of supply affected by 
the revised Act is commercial presence, which will no  longer be restricted to sole proprietorships and 
partnerships for law firms in New Brunswick. 
The legislation permitting personal an d professional incorporation of lawyers is contained in Section 37 of the 
amended Law Society Act  (R.S.N.B. 1996 c. C 89). Incorporation of law practices is subject to a number of 
conditions, including, “a majority of the issued voting shares are legally and beneficially owned by one or 
more members or by one or more professional corpor ations, or both.” Secondly, “all the directors of the 
corporation are members of the Society and that the corporation’s practice of law is managed only by 
directors who are practising members in good standing.” Furthermore, “all the persons who will be practising 
law for the corporation must be practising member s of the Society”, with notable exceptions for 
students-at-law, employees of the corporation and persons referred to in subsection 33(4) of this Act. With 
respect to voting shares, “no shareholder of a corpor ation who is a practising member shall enter into 
a voting trust agreement, a proxy or any other type of  agreement or instrument ve sting in a person who is  
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not a practising member of the Society the authority to exercise the voting rights attached to any or all of 
that member’s shares or restraining the practising me mber from freely exercising the voting rights attached 
to any or all of that member’s shares in the corp oration.” The Law Society of New Brunswick requires 
a corporation to hold a valid permit to practise law in the province of New Brunswick. 
 
S/C/N/86 Canada 14.12.98 The Institute of 
Chartered Accountants of Manitoba (ICAM); Certified General Accountants Association of Manitoba (CGA-Manitoba).  The bylaws of the Institute of Chartered Accounta nts of Manitoba were amended in November 1995, 
removing the permanent residenc y requirement for membership in the provincial institute. 
The bylaws of the Certified General Accountants Association of Manitoba were amended in September 1996 to eliminate the residency requirement for membership. 
 
S/C/N/9 Canada 31.01.96  The purpose of this notification is to fulfil the obligation  of Canada under Article III:3 of the GATS which requires 
Members to notify the introduction of any new, or any changes to existing laws, regulations or administrative 
guidelines which significantly affect trade in services co vered by its specific commitments under this Agreement. 
Please be advised that in the provin ce of Quebec, the Professional Code (R.S.Q., c. C-26) which governs all 
professions has been amended, with the effect that prof essional associations can no  longer require Canadian 
citizenship for issuing a license. However, in certain circumstances, these associations may require permanent 
residency before issuing a license. 
 
S/C/N/446 Central 
African Republic 04.06.08 Ministry of Post and 
Telecommunications in Charge of New 
Technologies 
 The Law sets the charges and fees on the establishmen t and/or operation of telecommunications networks 
and services in the Central African Republic. The purpose is to regulate the operation of teleco mmunications networks and services throughout the 
country. 
 
S/C/N/445 Central 
African 
Republic 04.06.08 Ministry of Postal 
Services and 
Telecommunications, 
responsible for new 
technologies 
 The notified law defines and regulates activities in the telecommunications and information and 
telecommunication technology sector in the Central African Republic. 
Its purpose is to establish modalities for the installation, use and balanced development of 
telecommunications and information and communic ation technologies throughout the territory. 
 
S/C/N/444 Central 
African Republic 04.06.08 Ministry of Energy, 
Mines and Hydraulics Liberalization of the electricity sub-sector in the fi elds of the production, transportation, distribution, 
importation, exportation and sale of electricity in the Central African Republic. - Open up the sub-sector to electricity companies; - increase the electrification rate and improve service quality in the Central African Republic; - renew obsolete infrastructure; - favour the development of the industrial fabric.  
S/C/N/536 Chile 23.02.10 Ministry of Justice Law Number 20.211 replacing Article 526 of the Courts Organization Code as regards the exercise of the 
profession of lawyer. 
The law stipulates that Chileans and foreign residents who have completed all their law studies in Chile may  
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exercise the profession of lawyer. Th is provision replaces the previous legislation which stipulated that only 
Chileans that had completed their law studies in Chil e could appear in legal proceedings and plead cases 
before the Chilean courts. 
 
S/C/N/566 China 15.09.10 Ministry of Housing 
and Urban-Rural Development; Ministry of Commerce Regulations on Administration of Foreign-Invested Construction Enterprises 
Regulations on Administration of Foreign-Invested Construction Enterprises provides for the application 
procedure, examination and approval, as well as superv ision and administration for the foreign investment in 
construction enterprises. Full text English translation of Regulations on Administration of Foreign-Invested Construction Enterprises  is 
available from the WTO Secretariat. The English translatio n is for reference only and the Chinese version shall 
be authentic.  
S/C/N/565  China 15.09.10 Ministry of Housing 
and Urban-Rural 
Development; 
Ministry of Commerce 
 Regulations on Administration of Foreign-Invested Construction an d Engineering Service Enterprises 
Regulations on Administration of Foreign-Invested Construction and Engineering Service Enterprises  provides 
for the application procedure, examin ation and approval, as well as supe rvision and administration for the 
foreign investment in construction and engineering service enterprises. 
Full text English translation of Regulations on Administration of Foreign-Invested Construction and 
Engineering Service Enterprises  is available from the WTO Secretariat. The English translation is for reference 
only and the Chinese version shall be authentic. 
 
S/C/N/564  China 15.09.10 State Administration 
for Industry and Commerce; Ministry of Commerce; National Development and Reform Commission Measures for the Administration on the Establishment of Partnership Business by  Foreign Enterprises or 
Individuals in China Measures for the Administration on the Establishment of Partnership Business by  Foreign Enterprises or 
Individuals in China  was published on 25 November 2009, and entered into force on 1 March 2010. The 
measures allow foreign enterprises or individuals to es tablish partnership business in China, which provide 
a new business form for foreign investment besides wh olly foreign owned enterprises, joint ventures and 
contractual joint ventures. For the se rvice suppliers from other WTO members,  it means a greater diversity of 
business forms under the "Commercial Pr esence" mode of trade in services. 
Full text English translation of Measures for the Administration on the Establishment of Partnership Business 
by Foreign Enterprises or Individuals in China  is available from the WTO Secretariat. The English translation is 
for reference only and the Chinese version shall be authentic.  
S/C/N/534 China 30.10.09 China Banking 
Regulatory 
Commission Regulations of the People’s Republic of China on Administration of Foreign-funded Banks and 
Implementation Rules for the Regulations of the People’s Republic of China on the Administration 
of Foreign-funded Banks 
Regulations of the People’s Republic of China on the Administration of Foreign-funded Banks (the 
“Regulations”) consists of 73 articles in seven chapte rs, namely General Provisions, Setup and Registration, 
Business Scope, Supervision and Administration, Termination and Li quidation, Legal Liabilities and 
Supplementary Provisions. Implementation Rules for the Regulation of  the People’s Republic of China on the 
Administration of Fo reign-funded Banks (the “Implementation Rules”) is composed of 134 articles in 
seven chapters. Both  the Regulations  and their Implementation Rules  were implemented on 
11 December 2006, and the Regulations  promulgated in 2001 and the Implementation Rules  promulgated in 
2004 were abolished on the same day. 
  
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S/C/N/533 China 30.10.09 China Banking 
Regulatory Commission Measures for the Administration of Financial Licences 
Measures for the Administra tion of Financial Licenses  mainly specifies the procedures to issue and replace 
financial license, the content of financial license and the administration of financial license. The measures 
consist of 20 articles. Articles 1-3 specify the legislativ e basis and the definition an d applicable scope of the 
financial license. Articles 4-10 specify the power to authorize and issue the financial license, the procedures to issue and replace the financial license and the content of financial license. Articles 11-13 specify the announcement and publishing of the financial license.  Articles 14-19 specify the administration of the 
financial license and relevant fees and legal liabilities.  
 
S/C/N/532 China 30.10.09 People's Bank of 
China Law of the People’s Republic of China on Commercial Banks 
The newly-amended Law of the People’s Republic of China on Commercial Banks  consists of 95 articles in 
nine chapters which are General Provisions, Establishment and Organization of Commercial Banks, Protection 
for Depositors, Basic Rules on Loans and Other Bu sinesses, Finance and Accounting, Supervision and 
Management, Take-over and Termination, Legal Liabilities, and Supplementary Provisions. 
Compared to the previous version, the law has made the following changes: first of all, it added the provision 
to strengthen supervision over commercial banks wi th reference to the princi ple of effective banking 
supervision formulated by Basel Committee on Bankin g Supervision; second, it increased the types of 
business of commercial banks; and third, it strengthened punishment over illegal acts. 
The provisions of this law shall be applicable to the foreign-invested commercial banks, Sino-foreign joint 
venture commercial banks, and branches of the foreig n commercial banks, unless otherwise provided by 
other laws and administrative regulations which shall prevail. 
 
S/C/N/531 China 30.10.09 China Insurance 
Regulatory Commission Insurance Law of the People's Republic of China (2009 Amended) 
Compared with the 2002 version, the newly-amended Insurance Law has made essential changes by 
promoting the protection of the insured, strengthenin g insurance supervision and risk prevention, expanding 
insurance service scope, etc. The Insurance Law of the People's Republic of China (amended in 2002) was 
abolished on the same day when the Insurance Law of the People's Republic of China (amended in 2009) 
came into implementation.  
S/C/N/530 China 30.10.09 China Securities 
Regulatory 
Commission Decision on Amending the Rules for the Establishment of Foreign-shared Securities Companies   
Decision on Amending the Rules for the Establis hment of Foreign-shared Securities Companies  composed of 
29 articles has revised the 2002 version in five major as pects. First, it reduced the minimum number of staff 
required to have obtained securities operating qualific ation in a foreign-shared securities company from 50 to 
30. Second, it lowered down the requirements on the qualification of overseas shareholders of the 
foreign-shared securities company. In  the past, only overseas securities operation institutions with at least 
10 years of continuous operation may become a sharehol der of a foreign-shared se curities company, but now 
financial institutions and non-financial institutions involved in financial investment business with five years of 
continuous operation may also become a shareholde r. Third, it cancelled the restriction that the 
foreign-shared securities company must be incorporated  as a limited liability company. Fourth, it specified 
the legal channel for an overseas invest or to participate in a listed domestic  securities company as well as the 
qualification of the shareholder and its proportion of sh ares. Fifth, it revised some out-of-dated clauses that 
lagged behind the current laws and regulations. 
  
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S/C/N/529 China 30.10.09 China Banking 
Regulatory Commission 
 Banking Supervision Law of the People’s Republic of China  (2006 Amended) 
The Law  composed of 52 articles in six chapters is the first special law of China on the supervision of banking 
industry. The law provides that the banking regulatory organ of the State Council sh all be responsible for the 
supervision and administration of all banking institutio ns in China and their busi ness activities. The banking 
regulatory organ of the Stat e Council may set up dispatched institutio ns in light of the needs for exercising 
their duties, and adopt unified leadership and administration over the institutions dispatched by it. The law also specifies the supervision functions, means and measures of the banking regulatory organs and the legal liabilities related to the performance of duties and oblig ations, exercise of supervision power and adoption of 
supervision measures by the regulatory organs.  
S/C/N/527 China 21.10.09 Ministry of Transport; 
Ministry of Commerce Rules on the Administration of Foreign Investment in the International Maritime Transportation 
Industry 
The Rules include 19 articles, stipulating the matters regarding foreign investment in China which engaged in 
international maritime transportation. Article 1 to Article 4 stipulate the foundation and purpose of the 
legislation, the applicable objects, and the competent authorities as well as the forms of international 
maritime transportation eligible for foreign investment. Article 5 to Article 15 set out the condition of market 
access and the administrative licensing procedures for foreign investment in the Chinese domestic 
international maritime transportation. According to diffe rent forms of the enterprise s, different establishment 
conditions together with different applic ation procedures are required. Meanwhile, the Rules  also stipulates 
issues regarding the increase and alteration of bu siness scoping, and the establishment of branches. 
 
S/C/N/526 China 21.10.09 Ministry of commerce Measures for the Administration of Fore ign Investment in Commercial Sector 
The measures contain 29 articles, which specify the ma rket access requirements, the operation scope, the 
process of the administrative license, the supervisio n and administration for the foreign investment in 
commercial enterprises. Besides, the Measures also includes four complementary rules which the measures which stipulates 
requirements for the investors from the Hong Kong and Macao Special Administrative Regions to invest in 
commercial enterprises in mainland of China.  
S/C/N/525 China 21.10.09 National Tourism 
Administration; 
Ministry of Commerce Regulations on Travel Agencies 
The Regulations abolishes the previous classification methods of  types of travel agencies and unify previous 
different market access requirements and procedures for those engaging in domestic travel services and 
those inbound travel services. According to the regulations, after obtaining an operation permit, travel 
agencies are permitted to conduct both domestic travel  services as well as inbound travel services. The 
regulations further lower th e threshold to the tourism market and re duce the burden for enterprises. In 
addition, they further remove  the systematic obstacles in establishing  branches and abolish the restriction on 
agencies which must meet the minimum requirement of  tourist flow of 100,000 people each year before 
setting up branches. This helps to promote the de velopment of network operation of agencies and 
establishment of wholesales and retails system, aiming at optimizing convenience for tourists. 
The regulations comprehensively regula te the business behaviors of travel agencies, encourage the change of 
management models, enhance the enterprise competence, and realize the scientific development. 
The regulations provide broader access for foreign in vestment. According to th e regulations, foreign 
investors, besides founding Sino-foreign joint venture an d cooperative travel agencies, are also permitted to 
launch wholly foreign capital owned travel agencies. The Regulations abolishes the requirement on  
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a minimum amount of RMB4 million registered capital for Sino-foreign joint venture and cooperative travel 
agencies; cancel the requirement on investors of foreign- invested travel agencies; abolish the restrictions on 
foreign-invested travel agencies which are not allowed to open branches in China. 
When the Regulations on Travel Agencies being put into effect, the former Regulations on Administration of 
the Travel Agencies have been abolished, meanwhile, the Interim Provisions on the Establishment of 
Foreign-Controlled and Wholly Foreign-funded Travel  Agencies as well as the revised edition and the 
supplementary provisions to these provisions will be abolished soon. 
 
S/C/N/524 China 21.10.09 Ministry of Industry 
and Information Technology; Ministry of Commerce  Provisions on Administration of Foreign-funded Telecommunications Enterprises 
The Provisions stipulate the market access requirements, the operation scope, and the legal liabilities for the foreign-funded telecommun ications enterprises. 
The Provisions include 23 articles. Article 1 to Articl e 4 stipulate the foundation of the legislation, the 
definition and operation scope of the foreign-funded tele communications enterprises. Article 5 to Article 7 set 
out the registered capital requirements  for foreign-funded telecommunicatio n enterprises. Article 8 to Article 
13 set out the conditions for establishment of and the requirements for documents submission of the 
foreign-funded telecommunications ente rprises. Article 14 to Article 17 stipulate other approval procedures 
for the establishment of foreign-fund ed telecommunications enterprise. Article 18 to Article 23 mainly 
stipulate the penalties for illegal establishment of foreign-funded teleco mmunication enterprises 
 
S/C/N/523 China 21.10.09 Ministry of Education, 
Ministry of Commerce Rules on Implementation of Regulations of the People's Republic of China on Chinese-Foreign 
Cooperation in Running Schools 
The Rules  stipulate issues regarding establishment, acti vities and administrati on of Chinese-foreign 
cooperatively-run schools as well as  the examination and approval and administration of  Chinese-foreign 
cooperative programs in running schools such as pr ograms offering secondary education for academic 
qualifications, programs of tutoring self-taught studen ts for examinations, progra ms offering supplementary 
teaching of school courses and pre-sc hool education in accordance with Re gulations of the Pe ople's Republic 
of China on Chinese-Foreign Cooperation in Running Schools. The Rules  include 6 Chapters and 63 Articles. 
Chapter 1 is General Provisions, which clarify the application of the Rules, the fields and measures in which 
the State encourages Chinese-foreign cooperation in running schools. Chapter 2 is Establishment of 
Chinese-foreign Cooperative Programs in Running Schools, which includes cooperative agreement of 
Chinese-foreign cooperators in running schools, conditio ns for offering education, sources of funding, the 
articles of association for the Chinese-foreign c ooperatively-run school, the examination and approval 
authorities and process of establishing Chinese-foreign cooperatively-run school, etc. Chapter 3 is 
Organization and Administration of Chinese-foreign coop erative programs in running schools, which includes 
the board of trustees, president, internal organiza tion, admission, teaching, asset management, etc. 
Chapter 4 is Examination and Approval  Activities, which include the examination and approval authorities and 
process of Chinese-foreign cooperative programs in  running schools, admission, teaching, financial 
management, etc. Chapter 5 is Management and Superv ision, which includes the management, supervision 
and the punishment on matters such as teaching material, students’ identity system, faculty recruitment, 
admission, granting academic  qualifications certificates or other education certificates, tuition, evaluation, 
etc. Chapter 6 is Suppl ementary Provisions. 
  
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S/C/N/522 China 20.10.09 National Tourism 
Administration, Ministry of Commerce Detailed Rules for the Implementation of the Regulations on Travel Agencies  
Detailed Rules specify the details of the guarantee deposit system of quality of travel agencies in the 
Regulations on Travel Agencies . First, the conditions for banks designated by National Tourism Administration 
for the travel agencies to deposit guarantee are clarif ied. Second, the rules claim the account and its valid 
period of travel agencies. Third, the content is made de finite which is necessary fo r the travel agency and the 
bank to manage a deposit agreement. And fourth, the rules stipulate the time limit for the travel agency to submit its certificate of deposit complement to Tourism Governmental Departments. According to the Travel Agencies Regulations, the annul examination system for travel agencies is abolished, 
but a provision is made that travel agencies should de liver the statistics which contain managing and fiscal 
information to the travel administrative department. Accordingly, Detailed Rules regulate the item, the content and the term for travel agencies to send  the managing and fiscal information to Tourism 
Governmental Departments. Detailed Rules give a supple ment to the Regulations on  Travel Agencies on the 
problem of travel agencies’ service points, which explic ate the definition and area coverage of the service 
point; meanwhile, the rules also give exact requirements on the location, name, and brand for establishment of the service points.  
S/C/N/261 China 01.12.03 Ministry of Education 
of the People’s 
Republic of China Regulations of the People’s Republic of China on  Chinese-Foreign Cooperation in Running Schools 
This set of regulations has eight chapters and 64 arti cles, specifying such matters as the qualifications 
requirements on the part of applicants, documentatio n requirements and procedur es to be followed in the 
filing and processing of applications  for establishing joint schools, scope of business of joint schools, etc. 
Chapter I General Provisions, Chapter II Establishment, Chapter III Organization an d Administration, Chapter 
IV Education and Teaching, Chapter V Assets and Financ ial Matters, Chapter VI Alteration and Termination, 
Chapter VII Legal Liability, and Ch apter VIII Supplementary Provisions. 
 
S/C/N/260 China 01.12.03 China Banking 
Regulatory 
Commission Administrative Rules Governing the Auto Financing Company 
Containing five chapters with 42 articles, the Rules mainly specifies the conditions for an AFC’s market-entry, 
business scope, supervisory requirements and legal liabilities. Chapter 1 “General Provisions” clarifies the 
objective of the Rules, functions of an AFC, and th e assignment of the regulatory authority. Chapter 2 
“Incorporation, Change and Termination” specifies the qualification requirements of an AFC’s investors, conditions for the company’s establishment and termin ation, the preparation an d handling of business 
commencement, and the application procedures for changes. Chapter 3 “Business Scope and Supervision” sets forth the eight business lines th at an AFC is permitted to engage in  and the supervisory requirements for 
an AFC’s business management. For inst ance, when providing auto financing services for a natural person, an 
AFC shall comply with relevant regulations governing the auto loans to individual buyers. When providing auto financing services for a corporate legal entity or other organizations, an AFC shall comply with relevant 
provisions set forth by General Provisions of Loans. When its auto financing business involves foreign exchange transactions or foreign debts, an AFC shall observe relevant rules and regulations promulgated by 
State Administration of Foreign Exch ange. Chapter 4 “Legal Liabilities” specifies the identification of and 
penalties on non-compliance behaviors of an AFC. Chapter 5 “Supplementary Provisions” clarifies that the Rules is applicable to all AFCs incorporated in the mainland of China funded by investors from Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan province.   
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S/C/N/259 China 01.12.03 National Tourism 
Administration and 
Ministry of Commerce Interim Regulations on the Establishment of Travel Agencies with Foreign Majority Ownership and Wholly 
Owned by Foreign Investors 
This measure allows the establishment of travel agencies with foreign majority ownership or those wholly 
owned by foreign entities in national holiday resorts and in the cities of Beijing, Shanghai, Guangzhou, 
Shenzhen and Xi’an, during the transitional period specified in China’s schedule of specific commitments. It 
also specifies the qualifications of foreign investors fo r establishing travel agencies with foreign majority 
ownership or wholly foreign owned travel agencies; an d stipulates the requirements that the established 
travel agencies with fore ign majority ownership or those wholly owned by foreign investors should meet. 
 
S/C/N/258 China 01.12.03 General 
Administration of Press and Publication and Ministry of Commerce Measures Governing Foreign Invested Distribution Enterprises for Books, Ne wspapers and Periodicals 
This measure allows the establishment of joint ventures  engaging in distribution of books, newspapers and 
periodicals by foreign investors and Chinese companies or other economic organizations, upon the approvals 
of relevant Chinese authorities pursuant to law; allows foreign investors to establish wholly-owned companies engaging in distribution of books, ne wspapers and periodicals within the te rritory of China; and allows foreign 
investors to hold or acquire equity interests of do mestic companies distributing books, newspapers and 
periodicals. It also specifies the qualifications, application procedures and documents required for the set-up of foreign-invested companies engaging in the dist ribution of books, newspapers and periodicals. 
 
S/C/N/257 China 01.12.03 Ministry of Commerce Measures for the Administration of Foreign-invested Internationa l Freight Forwarding Agencies 
This measure is the amendment to the Regulations on the Administration of Foreign-invested Freight 
Forwarding Agencies of the People’s Republic of China: liberalizing the proportional limitation of foreign 
ownership in foreign-controlled freight forwarding companies, allowing foreign investors to establish joint 
venture international freight forwarding  agencies with majority foreign ow nership; allowing the establishment 
of foreign-invested international freight forwarding agencies by means of merger and acquisition of equity 
interests of domestic enterprises; further liberalizing the qualification requirements  for Chinese partners in 
foreign-invested international freig ht forwarding agencies and therefore diminishing the limitations on 
investors. 
 
S/C/N/256 China 01.12.03 Ministry of 
Communication of the People’s Republic of China Implementing Rules of the Regulations of the People ’s Republic of China on International Maritime 
Transportation The Implementing Rules of the Regulations of the Peop le’s Republic of China on International Maritime 
Transportation (hereinafter referre d to as the Rules) have seven chapters. Chapter I is the General 
Provisions. Chapter II is Operators of International Shipping Services and Auxiliary Businesses Thereof. Chapter III is Business Operations of International Mari time Transportation and Auxiliary Businesses Thereof. 
Chapter IV is Investment in and Operation of International Maritime Transportation and Auxiliary Businesses Relating Thereto by Foreign Investors. Chapter V is Investigations and Settlement. Chapter VI is Legal Liabilities. Chapter VII is Supplementary Provisions. In the Rules, there are 19 definitions including those of international shipping services, international liner services. There are also provisions on the procedures, materials, time limit, etc. for granti ng the permit or registration of doin g businesses relating to international 
shipping services, international shipping agency servic es, international ship management, NVOCC, etc. in the 
Rules. In accordance with the provisions of the Rules, in case of setting up an enterprise within the Chinese territory 
to operate international shipping services, or operating international shipping services when such an applicant is a Chinese enterprise legal person, an application for permit shall be submitted to the Ministry of  
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Communications, and a duplicate of the same document s shall be sent to the competent communications 
department of the people’s government  of the province, autonomous region or municipality directly under the 
Central Government where the enterprise is or is to be registered. The Ministry of Communications shall, 
within 30 working days from the date when the application documents are complete and authentic, complete 
the examination and verification and make a decision on  granting or not granting permission. In case of 
operating international shipping agency services, an application for registration shall be submitted to the Ministry of Communications, and th e same documents shall be sent to the competent communications 
department of the people’s government  of the province, autonomous region or municipality directly under the 
Central Government where the enterprise is or is to be registered. The Ministry of Communications shall, 
within 15 working days from the date when the application documents are complete and authentic, complete the examination and verification and make a decision on  granting or not granting registration. In case of 
engagement in international ship management services, an application for registrati on shall be submitted to 
the competent communications department of the people ’s government of the province, autonomous region 
or municipality directly under the Cent ral Government where the proposed business is to be located. In case 
of registration of a non-vessel-operating common-carrier’s bill of lading, an applicat ion for registration shall 
be submitted to the Ministry  of Communications, and a duplicate of th e same documents shall be sent to the 
competent communications department of the people’s government of the province , autonomous region or 
municipality directly under the Central Government. The Ministry of Communications shall, within 15 working days from the date when the application documents are complete and authentic, complete the examination and verification and make a decision  on granting or not granting regi stration. There are also provisions 
specifying the procedures and documents for setting up branches within Chinese territory by Chinese operators of international shipping services, international shipping agency services, international ship management services and Chinese NVOCCs in the Rules. The Rules have provisions on the obligations of intern ational liner service operators, NVOCCs, operators of 
international ship management services when they operate in China. There are provisions in the Rules specifying the applic ation procedures and documents when foreign investors 
make investment to establish Chinese-foreign equity join t-ventures or contractual joint-ventures to engage in 
international shipping services, international shippi ng agency services, international ship management 
services, and international maritime container freight station and container yard services. There are also 
provisions in the Rules specifying the application procedures and documents when foreign investors make investment to establish enterprises to engage in international maritime cargo warehousing services. There are detailed provisions on the establishment, change of  names or chief representatives, extension of service 
duration and termination of services of representative offices of foreign operators of international shipping 
services and foreign operators of auxiliary businesses operations relating to international maritime transportation in the Rules. The Rules have provisions on the investigation proced ures, the elements for consideration when giving an 
investigation decision on investigation into business activities which can be detrimental to fair competition or which can be unjustifiable business conducts. After the implementation of the Rules, the five Prov isions including the Measures for Administration of 
International Shipping Service issued by the Ministry of Communications shall be repealed simultaneously.  
S/C/N/255 China 01.12.03 Ministry of 
Information Industry; 
Ministry of Supplementary Circular Conc erning the Handling of Delivery Servic es of Inward-and–Outward Letters and 
Articles with Letter Nature 
The Supplementary Circular ma inly defined three subjects:  
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Commerce, the State 
Post Bureau (1) The content of entrustment: upon the entrustmen t of the postal entities, international forwarding 
agencies are allowed to handle the express delivery  of outward letters and articles with the letter 
nature, excluding private letters and official correspon dence of the Party, political and army institutions 
above county level (included). 
(2) The time of handling the entrustment formalities: 60 days after the distribution of the “supplementary 
Circular” (i.e. by 5 November 2002). 
(3) Should any documents previously promulgated go against the “Supplementary Circular”, the latter shall 
be abided by. 
S/C/N/254 China 24.11.03 Ministry of Finance 
(The Chinese Institute of Certified Public Accountants); Ministry of Foreign Trade and Economic Cooperation  Tentative Procedures for the Administration of  Sino-foreign Cooperative Accounting Firm 
Full text English translation of the administrative measures is available from the WTO Secretariat. The English translation is for reference only and th e Chinese version shall be authentic. 
 
S/C/N/253 China 24.11.03 State Administration 
for Industry and 
Commerce; 
Ministry of Foreign 
Trade and Economic 
Cooperation 
 Several Provisions on Establishment of Adve rtising Enterprise with  Foreign Investment 
Full text English translation of the administrative measures is available from the WTO Secretariat. The English 
translation is for reference only and th e Chinese version shall be authentic. 
 
S/C/N/252 China 24.11.03 General 
Administration of Civil Aviation of China; 
Ministry of Foreign 
Trade and Economic Cooperation Rules on Certification of Maintenance Organization for Civil Aircraft 
The “Certification of Maintenance Organization for Civil Aircraft” is a current valid regulation in the aircraft 
maintenance service market. It was issued on 3 Febr uary 1993 and effective from the same day. For the 
purpose of ensuring continuous airworthiness and flight sa fety of civil aircraft, this  part is formulated under 
“the People’s Republic of China Regulations for Airworth iness of Civil Aircraft” issued by the state council on 
4 May 1987 and effective from June 1987. This part governs the certification, supervision and in spection by CAAC of and facility or individual who 
maintains civil aircraft registered in the People’s Republ ic of China and/or parts th ereof. This part is also 
application and approval of a maintenance organi zation who conducts non-regular maintenance. 
This part includes five Chapters. Ch apters General including: Purpose and authority Applicability Definition of 
terms, Application and Issue, Maintenance organization certificate and its effectiveness and Equivalent safety conditions; Chapter 2 Maintenance organization Manual , including: Maintenance of organization manual, 
Basic requirements of maintenance organization manual,  Categories, Responsibiliti es, Privileges, Changes, 
Limitations, housing and facilities, Tools equipment and training records, Air-materials, Maintenance, inspection and management (supervision) Personnel, Authorized persons, Personnel technical and training records, Airworthiness data and technical documents,  Quality assurance system, Engineering and technical 
documents, Production planning system, Maintena nce performances standard, maintenance records, 
Maintenance certification reports of defects or una irworthy conditions; Chapter 5, Miscellaneous. 
  
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"Approval of Civil Aircraft Maintenance Organization" (21 December 2001, Amendment 2) will become 
effective in 1 January 2003. The “Certification of Main tenance Organization for Civil Aircraft” published on 
3 February 1993 will be repealed at the same time. 
 
S/C/N/251 China 24.11.03 Ministry of 
Construction; 
Ministry of Foreign 
Trade and Economic 
Cooperation 
 Rules Governing the Examination and Approval of the Establishment of Sino-foreign Engineering Design 
Institutes 
Full text English translation of the administrative measures is available from the WTO Secretariat. The English 
translation is for reference only and th e Chinese version shall be authentic. 
 
S/C/N/250 China 24.11.03 Ministry of Foreign 
Trade and Economic Cooperation Regulations on Exploitation of On-shore Petroleum Resources in Cooperation with Foreign Enterprises 
Full text English translation of the regulation is available from the WTO Secretariat. The English translation is for reference only and the Chines e version shall be authentic. 
 
S/C/N/249 China 24.11.03 Ministry of Foreign 
Trade and Economic 
Cooperation Regulations on Exploitation of O ffshore Petroleum Resour ces in Cooperation with Foreign Enterprises 
Full text English translation of the regulation is available from the WTO Secretariat. The English translation is 
for reference only and the Chines e version shall be authentic. 
 
S/C/N/248 China 24.11.03 Ministry of 
Information Industry; Ministry of Foreign Trade and Economic Cooperation Regulations on Administration of Foreign Invested Telecommunications Enterprises 
Full text English translation of the regulation is available from the WTO Secretariat. The English translation is for reference only and the Chines e version shall be authentic. 
 
S/C/N/247 China 24.11.03 Ministry of Foreign 
Trade and Economic 
Cooperation Provisions on Guiding Foreign Investment Direction 
Full text English translation of the administrative measures is available from the WTO Secretariat. The English 
translation is for reference only and th e Chinese version shall be authentic. 
 
S/C/N/246 China 24.11.03 Ministry of Foreign 
Trade and Economic Cooperation Provisions on Administration of International Freight Forwarding Agency Enterprises with Foreign Investment 
Full text English translation of the administrative measures is available from the WTO Secretariat. The English translation is for reference only and th e Chinese version shall be authentic. 
 
S/C/N/245 China 24.11.03 Ministry of 
Communications; 
Ministry of Foreign 
Trade and Economic 
Co-operation Provisions on Administration of Foreig n Investment in Road Transport Sector 
Full text English translation of the provisions is availa ble from the WTO Secretariat. The English translation is 
for reference only and the Chines e version shall be authentic. 
 
S/C/N/244 China 24.11.03 Ministry of Foreign 
Trade and Economic Co-operation; State Administration for Quality Supervision and Inspection and Quarantine Provisions for the Examination and Approval of th e Establishment of Import and Export Commodity 
Inspection and Approval Corporation with Foreign Investment Full text English translation of the administrative measures is available from the WTO Secretariat. The English translation is for reference only and th e Chinese version shall be authentic. 
  
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S/C/N/243 China 24.11.03 Ministry of Education Interim Provisions for Sino-Foreign Cooperation in Running School 
Full text English translation of the interim provisions is available from the WTO Secretariat. The English 
translation is for reference only and th e Chinese version shall be authentic. 
 
S/C/N/242 China 24.11.03 Ministry of Railways; 
Ministry of Foreign Trade and Economic Cooperation Interim Measures on Examination, Approval and Administration of Railway Freight Transport Industry 
Invested by Foreigners Full text English translation of the interim measures is available from the WTO Secretariat. The English translation is for reference only and th e Chinese version shall be authentic. 
 
S/C/N/241 China 24.11.03 Ministry of Foreign 
Trade and Economic 
Cooperation Interim Measures for Approval and Administra tion of Foreign-Invest ed Leasing Companies 
Full text English translation of the administrative measures is available from the WTO Secretariat. The English 
translation is for reference only and th e Chinese version shall be authentic. 
 
S/C/N/240 China 24.11.03 Ministry of Health; 
Ministry of Foreign Trade and Economic Co-operation  Interim Measures for Administration  of Sino-Foreign Joint Venture and Cooperative Medical Institutions 
Full text English translation of the administrative measures is available from the WTO Secretariat. The English translation is for reference only and th e Chinese version shall be authentic. 
 
S/C/N/239 China 24.11.03 Ministry of Foreign 
Trade and Economic 
Cooperation Catalogue for the Guidance of Foreign Investment Industries 
Full text English translation of the administrative measures is available from the WTO Secretariat. The English 
translation is for reference only and th e Chinese version shall be authentic. 
 
S/C/N/238 China 24.11.03 General 
Administration of Civil Aviation of China Provisional Administrative Measures on the Usage of Computer (Passenger) Reserv ation System by Foreign 
Air Transport Enterprises and their Sales Agents within the Territory of China 
Full text English translation of the provisional administrative measures is available from the WTO Secretariat. The English translation is for reference only and the Chinese version shall be authentic. 
 
S/C/N/225 China 24.12.02 The People's Bank of 
China Measures for Administration of Representative Office s of Foreign-Capital Financial Institutions in China 
Full text English translation of the measures is attached. The English translation is for reference only and the 
Chinese version shall be authentic. 
 
S/C/N/224 China 24.12.02 China Insurance 
Regulatory Commission Regulations on Administration of Foreign-Funded Insurance Companies 
Full text English translation of the regulations is atta ched. The English translation is for reference only and 
the Chinese version shall be authentic.  
S/C/N/223 China 24.12.02 The People’s Bank of 
China Proclamation by the People’s Bank of China on the Related Issues of Foreign-Funded Financial Institutions’ 
Market Access 
Full text English translation of the proclamation is attached. The English translation is for reference only and 
the Chinese version shall be authentic. 
 
S/C/N/222 China 24.12.02 China Securities 
Regulatory Commission Rules for Establishing Foreign-Invested Fund Management Companies 
Full text English translation of the rules is attached. The English translation is for reference only and the Chinese version shall be authentic.   
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S/C/N/221 China 24.12.02 China Securities 
Regulatory 
Commission Rules for Establishing Foreign- Invested Securities Companies 
Full text English translation of the rules is attached. The English translation is for reference only and the 
Chinese version shall be authentic. 
 
S/C/N/220 China 24.12.02 State Administration 
of Radio, Film and Television; Ministry of Foreign Trade and Economic Cooperation  Provisional Regulations Governing the Foreign Invested Movie Theater 
Full text English translation of the provisional regulation is attached. The English translation is for reference only and the Chinese version shall be authentic.  
S/C/N/219 China 24.12.02 Ministry of Culture; 
Ministry of Foreign 
Trade and Economic 
Cooperation 
 Measures for Administration of Sino-Foreign Contract ual Distribution Ventures of Audio-Visual Products 
Full text English translation of the administrative measures is attached. The English translation is for 
reference only and th e Chinese version shall be authentic. 
 
S/C/N/218 China 24.12.02 State Economic and 
Trade Commission; Ministry of Foreign Trade and Economic Cooperation  For those phase-in products specifically provided for in the Market Access 
Column of the 
distribution sector of the Schedule, other relevant authorities may also be involved.  Measures on the Trial of Foreign- Invested Merchandising Enterprises 
Full text English translation of the measures is attached. The English translation is for reference only and the Chinese version shall be authentic.  
S/C/N/217 China 24.12.02 National Tourism 
Administration; 
Ministry of Foreign 
Trade and Economic 
Cooperation 
 Regulations on Administrati on of Travel Agencies 
Full text English translation of the regulation is attach ed. The English translation is  for reference only and the 
Chinese version shall be authentic. 
S/C/N/216 China 24.12.02 Ministry of 
Communications; Ministry of Foreign Trade and Economic Cooperation  Regulations on International Maritime Transportation 
Full text English translation of the regulation is attach ed. The English translation is  for reference only and the 
Chinese version shall be authentic.   
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S/C/N/215 China 24.12.02 The People’s Bank of 
China Regulations on Administration of Foreign-Funded Financial Institutions 
Full text English translation of the regulation is attach ed. The English translation is  for reference only and the 
Chinese version shall be authentic. 
 
S/C/N/214 China 24.12.02 Ministry of 
Construction; Ministry of Foreign Trade and Economic Cooperation  Rules on the Establishment of Foreign-Invested Construction Enterprises 
Full text English translation of the rules is attached. The English translation is for reference only and the Chinese version shall be authentic.  
S/C/N/213 China 24.12.02 Ministry of Foreign 
Trade and Economic 
Cooperation Regulations for the Implementation of the Law of the Peop le's Republic of China on Foreign-capital Enterprise 
Full text English translation of the regulation is attach ed. The English translation is  for reference only and the 
Chinese version shall be authentic. 
 
S/C/N/212 China 17.12.02 Ministry of Foreign 
Trade and Economic Cooperation Law of the People's Republic of China on Foreign Capital Enterprise 
Full text English translation of the law is attached. The English translation is for reference only and the Chinese version shall be authentic.  
S/C/N/211 China 17.12.02 Ministry of Foreign 
Trade and Economic 
Cooperation Regulations for the Implementation of the Law of the People's Republic of China on Sino-Foreign Contractual 
Joint Venture 
Full text English translation of the regulation is attach ed. The English translation is  for reference only and the 
Chinese version shall be authentic. 
 
S/C/N/210 China 17.12.02 Ministry of Foreign 
Trade and Economic Cooperation Law of the People’s Republic of China on Sino-Foreign Contractual Joint Venture 
Full text English translation of the law is attached. The English translation is for reference only and the Chinese version shall be authentic. 
 
S/C/N/209 China 17.12.02 Ministry of Foreign 
Trade and Economic 
Cooperation 
 Regulations for the Implementation of the Law of the Peop le's Republic of China on Sino-Foreign Equity Joint 
Venture 
Full text English translation of the regulation is attach ed. The English translation is  for reference only and the 
Chinese version shall be authentic. 
 
S/C/N/208 China 16.12.02 Ministry of Foreign 
Trade and Economic Cooperation Law of the People’s Republic of China on Sino-Foreign Equity Joint Venture 
Full text English translation of the law is attached. The English translation is for reference only and the Chinese version shall be authentic.  
S/C/N/576 Colombia 05.10.10 Ministry of 
Information and 
Communication 
Technologies Law No. 1341 of 2009, which defines the principles and concepts of the information society and the 
organization of information and communication techno logies (ICTs), establishes the National Spectrum 
Agency and sets forth other provisions. 
The purpose of the Law is to lay down the general frame work for the formulation of the public policies that 
will govern the information and communication technologies sector, its general organization, the system of 
competition, user protection, matters pertaining to coverage, quality of se rvice, promotion of investment in 
the sector and the development of these technologies, efficient use of networks and the radio spectrum, and 
the powers of the State with respect to the planning , management, proper and efficient administration of  
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resources, regulation, control an d surveillance of the radio spectrum, and the provision of free, 
non-discriminatory access to the information society for inhabitants of the national territory. 
This Law compiles all the regulations governing the sector in a move to put an end to the fragmentation of 
regulatory responsibilities and bring them all together under one and the same law. 
Not only are regulatory responsibilities unified, but the entire telecommunications sector is also viewed and 
treated as a whole. Law No. 1341 defines the scope of the sector as follows: 
"The information and communication technologies sect or is composed of manufacturing, commercial and 
services industries whose products collect, process, create, transmit or display data and information 
electronically. 
As regards the manufacturing industries, the products must be designed to fulfil the functions of information 
processing and communication, including transmission and display, and must use electronic processing to 
detect, measure and/or record physical phenomena or to  control a physical process. 
As regards the services industries, the products must  be designed to allow information processing and 
communication by electronic means, without adversely impacting the environment." 
Article 10 of Law No. 1341 allows anyone to "provide telecommunications networks and services" but makes 
it clear that this is a "public service under State ownership." The Law establishes a system of private 
provision of a public service. 
 
S/C/N/575 Colombia 04.10.10 Ministry of Finance 
and Public Credit Law No. 1328 of 2009 promulgating rules relating to financ ial matters, insurance, the securities market and 
other provisions. One of the purposes of this law is to exempt foreig n banks and insurance companies from the requirement to 
set up as commercial public limited companies or cooperative associations. Foreign banks and insurance 
companies operating through branches "may operate unde r their current legal form". It also establishes the 
regime applicable to such branches, by means of provisions stipulating that these are financial entities subject to inspection and supervision by the Financial Supervisory Authority of Colombia, and that they have the same rights and are subject to the same obligations as Colombian banks and insurance companies, as the 
case may be. 
The Law requires the capital assigned to branches of  foreign banks and insuranc e companies to be brought 
into the country and converted into the national currency, in accordance with the provisions governing foreign capital investment and the international exchange system. It also provides that branches of foreign banks and insurance companies shall be limited in thei r operations by the capital assigned and actually 
brought into Colombia.  
S/C/N/574 Colombia 04.10.10 Ministry of 
Information and 
Communication 
Technologies Law No. 1245 of 2008 establishes the obligation to provide number portability and other provisions. 
The purpose of this law is to establish the obligation to provide number portability, which will enable users of 
mobile telephony in Colombia to switch service providers without losing their phone numbers. The Law 
stipulates that telecommunications operators authorized to assign numbers directly are required to provide 
number portability services, which allow users to keep their phone numbers without losing quality or 
reliability if they decide to switch operators, in acco rdance with the requirements of the Telecommunications 
Regulatory Commission (CRT). Users of fixed telephon y services will keep their existing numbers if the 
Commission determines that the service is technically and economically viable in terms of financial balance, 
and if the user remains within the district or municipality where the service is provided. 
  
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S/C/N/573 Colombia 04.10.10 Ministry of the 
Interior and Justice Law No. 1266 of 2008 establishes the general provisions governing habeas data  and regulates the 
management of information in personal databases, in particular information relating to finance, credit, commercial activities and services  and information from third countries, as well as other provisions. 
The purpose of this law is to give effect to the consti tutional right of all persons to know, update and modify 
information concerning them that is recorded in databanks, to the other constitutional rights, freedoms and guarantees relating to the collection, processing and circ ulation of personal data, as  established in Article 15 
of the Constitution, and to the right to information enshrined in Article 20 of the Constitution, in particular information relating to finance, credit, commercial activities and services, as well as information from third countries. The Law provides that information of a positive nature will remain in the databanks of information operators 
for an indefinite period of time. It specifies, however, that data relating to payments overdue, recovery rates, securities portfolio statements and, generally speaking, data relating to non-fulfilment  of obligations, will be kept for a specified duration. 
Once that period has expired, the operator is requir ed to withdraw the information from the databanks so 
that it cannot be access ed or viewed by users. 
The data must be kept for a period of four (4) ye ars counted from the date on which amounts payable or 
overdue obligations have been paid.  
S/C/N/572 Colombia 04.10.10 Ministry of Finance 
and Public Credit 
Ministry of Trade, 
Industry and Tourism Law No. 1314 of 2009, regulating the principles and standa rds accepted in Colombia for accounting, financial 
information and auditing, specifies the competent au thorities, procedures fo r application and bodies 
responsible for monitoring compliance with its provisions. 
The purpose of this law is to lay down accounting, financial information and auditing standards that make up 
a single and homogeneous, high-quality, understandable and mandatory system under which accounting 
reports, and financial st atements in particular, provide unders tandable, transparent and comparable 
information that is relevant, reliable  and useful for the purposes of fina ncial decision-making by the State, 
owners, officials, company employees, current or potential investors and ot her interested parties in order to 
boost productivity and competitiven ess and promote the harmonious deve lopment of business activities by 
Colombian or foreign natural or legal persons. 
The Law aims to regulate the convergence of Colombian accounting standards with international accounting 
standards, to avoid inconsistency in the regulatory sphere between supervisory authorities and other State 
bodies, to designate the Technical Publ ic Accountancy Board as the sole draf ter of the convergence criteria, to 
distinguish accounting standards from tax rules, to establish time frames (between 2010 and 2014) for 
implementing the convergence process, and to make it compulsory to keep accounts  in accordance with the 
simplified regime. 
Accordingly, the Accounting Law: 
 Makes it easier to bring Colombian standards into line with the international system and resolves 
problems stemming from the diversity and fragmentation  of regulations as well as conflicts with tax 
accounting; 
 lays down accounting and financial information st andards that make up a single, homogeneous and 
high-quality system, thus facilitating control over foreign investment related accounting information. 
Transparency in financial reports lowers transact ion costs for businesses, promotes capital market 
development and allows a uniform and comparable interpretation of data with those of companies from 
other parts of the world; 
  
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 applies to all natural or legal persons required, under the legislation in force, to keep accounts, 
including chartered accountants, officials and othe r persons responsible for preparing, approving and 
auditing financial statements and financial information. 
S/C/N/123 Costa Rica 22.06.00 National Commission 
for Consumer Protection, Ministry of the Economy, Industry and Trade The Promotion of Competition and Effective Consumer Protection Act, No. 7472 of 20 December 1994, 
replaces Article 7 of the Travel Agency Regulation Act, No. 5339 of 23 August 1973, which established 
a nationality restriction on the obtention of  a licence to operate as a travel agency. 
The new law abolishes this restriction in accordance with Article 6, which stipulates that licences and any other authorization for the exercise of trade shall be el iminated, as well as nationality restrictions for the 
exercise of commercial activities, and Article 70 of the law specifically replaces the rule in question. 
 
S/C/N/94 Czech 
Republic 18.01.99 Ministry of Finance of 
the Czech Republic 
and the Czech 
National Bank Measures: 
Government Ordinance No. 129/1998 Coll. of Laws of 6 May 1998 
Description: 
The other cases are set forth,  when the foreign exchange  permit is not required. 
 Foreign exchange permit, except for cases set forth in the act, is not required 
(a) for a purchase or a sale of foreign currency or gold 
(b) for operations in foreign securities under Articl e 11, paragraphs 1 and 2 of the Foreign Exchange Act 
219/1995 Coll. of Laws 
(c) for operations in financial derivatives under Article 12, para graph 1 of the Foreign Exchange 
Act 219/1995 Coll. of Laws 
(d) for extending financial credits under Article 14, paragraphs 1 and 2 of the Foreign Exchange 
Act 219/1995 Coll. of Laws 
(e) for the use of sureties under Article 15 of the Foreign Exchange Act 219/1995 Coll. of Laws 
(f) for other than direct investments under Article 16 of the Foreign Exchange Act 219/1995 Coll. of Laws. 
 Hereby it is nullified Government Ordinance No. 111/1997 of Coll. of Laws, by which the other cases 
are set forth, when the foreign ex change permit is not required for acquiring foreign securities. 
 Until the day when this Government Ordinance enters into effect the contemporaneous laws and 
regulations relating to acquiring foreign securities will apply. 
 
S/C/N/93 Czech 
Republic 18.01.99 The Czech Securities 
Commission Measures: 
Act of the Czech Securities Commission No. 15/1998 Coll. of Laws 
Description: 
 The purpose of the Act is to establish the position, scope of performance, powers and 
 organizational structure of the Securities Commissi on of the Czech Republic and to specify the rights 
and obligations of legal entities operating on the capital market. 
 Unless stated in the mentioned Act or elsewhere, th e general laws for administ rative procedures shall 
apply for the procedures carr ied out by the Commission. 
 The fulfilment of obligations by natural and legal persons as established in the mentioned Act and in 
special acts dealing with the capital market and ar e subject to state supervision by the Securities 
Commission. In order to perform state supervision, the Commission has the authority to carry out 
inspections. 
 The Commission issues administrative decisions.  
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 To deal with the violation of statutory obligations , the Act contains specia l provisions concerning 
corrective measures, sanctions and procedures related therewith, as well as special provisions on precautions beyond the scope of general regulations. 
 The activities of banks, pension funds and insuranc e companies on the capital market are subject to 
state supervision by the Commission  within the scope of its powers. 
 The Securities Commission keeps and regularly publishes lists of persons and entities with relations to 
the capital market and publishes a bulletin with these lists, any significant information or communications. 
 The Act also establishes the obligations for organise rs of public markets and individual investors to 
provide information on concluded transactions. 
 The Securities Commission co-operates with other state administration bodies (exchange of information 
with the Czech National Bank and the Ministry of Fi nance, as necessary for th eir activities) and other 
institutions, for example The Parliament of the Czec h Republic and Chamber of Auditors of the Czech 
Republic. 
 Within the framework of international co-operation with the respective administration agencies and 
institutions involved in the supervision of the capital market, and applying the principle of reciprocity and restriction for a particular pu rpose, the Commission provides in formation about the capital market 
participants. 
 The supreme body of the Securities Commission is th e Presidium (consisting of 5 members) headed by 
a chairman (who decides on appeals against resolutions). The Act specifies the conditions for appointment, performance and activities of the Presidium and employees of the Securities Commission, including their obligations related to confidentiality. The special Act will specify the remuneration of employees of the Commission. 
 The Commission is funded  from the state budget. 
 The Act amends and modifies the following regulations: 
- Act on the Establishment of Minist ries and Other Cent ral Bodies 2/1969 
- Act on Securities 591/1992 
- Act on the Stock Exchange 214/1992 - Act on Bonds 530/1990 - Commercial Code 513/1991 - Act on Trade Enterprises 455/1991 - Act on Investment Companies and Investment Funds 248/1992 - Act on Supplementary Pension Insura nce with State Contribution 42/1994 
- Act on the Czech National Bank 6/1993 - Act on Some Measures against Legalisation of Gains from Criminal Activities and Modifications and 
Amendments to the Related Acts 61/1996 
- Code of Civil Procedures 99/1963  
S/C/N/92 Czech 
Republic 15.01.99 Ministry of Finance of 
the Czech Republic Measures: 
Act No. 124/1998 Coll. (valid since 8 June 1998) amending Investment Companies and Investment Funds Act 
No. 248/1992 Coll. of Laws. 
Description: 
According to this amendment important changes are introduced, among which the most important are the 
following ones:  
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 An authorisation allowing establ ishment of new closed-end mutual funds may be issued only for 
a definite period which does not exceed 10 years. 
 Investment companies and investment funds may not carry out transactions with assets in mutual 
funds or of investment funds through persons who are interconnected asset- wise or personnel-wise. 
 Acquisition of more than 10%-share of registered capital of an investment company or investment fund 
is subject to the prior Securities  Commission approval. A compositio n of the Board of Directors or 
Supervisory Board is subjec t to the same obligation. 
 According to the Act the portfolio of investment funds or mutual funds may not consist of the shares of 
joint-stock companies whose shares on registered capital of a management investment company or 
investment fund exceeds 10 per cent. 
 According to the Act either an investment company or investment fund is not permitted to use its 
assets for the provision of an advance payment on a purchase of securities. 
 The Act introduced an obligatory transformation of closed-end mutual funds and investment funds into 
open-end mutual funds in cases where the disco unt limits stipulated by the Act are exceeded. 
Closed-end mutual funds and investment funds which have not been transformed under the legal 
requirement must be transformed into open-end mutual funds gradually not later than 
31 December 2002. 
 According to the Act an investment limit stipulated the legal stake of capital of companies which may 
be held by funds was decreased. Th e total nominal value of securities of a single type issued by the 
same issuer may not comprise more than 11% of a mutual fund assets or investment fund assets. An 
investment company must also make sure that mutual funds portfolio which it manages do not contain 
more than 11% of the total nominal value of securiti es of a single type issued by the same issuer. 
 The control functions of a depository was strengthen ed by the Act. If a depository notes that the 
interests of shareholders of the investment fund or  of the unit holders of th e mutual fund have been 
violated in the execution of the activities by the investment company or investment fund or if the 
depository has reasonable suspicion that there could be an instance of this sort, it may suspend access 
by this transaction's participants to the securities accounts at the Securities Centre for a maximum of 
three days. 
 
S/C/N/39 Czech 
Republic 02.12.96 Ministry of Finance of 
the Czech Republic and the Czech National Bank  Measure: Foreign Exchange Act No. 219/1995 Coll. of Laws valid since 1 October 1995. 
Description: The measure is intended to liberalise cr oss-border payments and to  enter new disciplines. 
(1) Foreign exchange permit is no longer re quired in the case of Czech residents for: 
(i) making FDI (foreign direct investment); (ii) obtaining financial credit from a non-resident;  
S/C/N/126 Czech 
Republic 03.08.00 Ministry of Finance of 
the Czech Republic Act No. 363/1999 Coll., on Insurance and Amendment to So me Related Acts (Act on Insurance) establishes 
a framework for insurance and reinsuranc e activities. It defines conditions to be met to provide insurance and 
reinsurance services, including those re lating to capital adequacy requirem ents, and sets forth the principles 
for their supervision. 
 
S/C/N/125 Czech 
Republic 03.08.00 Ministry of Finance of 
the Czech Republic Act No. 168/1999 Coll., on Liability Insurance for Dama ge Caused by Operation of a Vehicle and on 
Amendment to Some Related Acts (Motor Third-Party Li ability Insurance Act) provides a new framework for 
the regulation and supervision of motor third-party li ability insurance activities . It abolishes the former 
monopoly in this area and allows for provision of such  activities on an  open and non-discriminatory basis.  
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S/C/N/496 Egypt 22.06.09 Egyptian Insurance 
Supervisory Authority 
in Egypt - Law 118 of 2008 amending some provisions of the insurance supervision & control Law No. 10 of 1981. 
- The new amendments highlight the independent role of the Egyptian Insurance Supervisory Authority, 
which will move to implement the approach of Ri sk management and financial solvency control. 
- The new law enforces insurance and reinsurance comp anies to take the form of joint stock companies 
with a capital of not less than 60 million or its equivalent in free currencies. In all cases, companies 
should be financially solvent to be able to cover their risks. 
- Companies should not combine the activities  of life insurance and property insurance. 
- Allowing the corporate bodies to transact intermed iation profession in the market to individuals. 
- The Insurance Federation of Egypt shall have an independent corporate char acter and each insurance 
company or association is obliged to join the federation. 
 
S/C/N/495 Egypt 22.06.09 The National 
Telecommunication Regulatory Authority (NTRA) The Law No. 10/2003, issued in February 2003, regulates all types of telecommunications services  in the 
Arab Republic of Egypt. The main Article of this law obliges the service providers to act pursuant to the Law, 
the rules and procedures issued by virtue  of the decrees of responsible minister. 
This Law establishes the "National Telecommunication Regulatory Authority" (NTRA) and defines its objectives, responsibilities, technical role in protecting health and environmental safety, budget for scientific research, and training and development studies. It also defines the responsibilities and composition of the Board of Directors of NTRA, as well as appointmen t and responsibilities of its Executive Director. 
All entities and companies operating in telecommunication services are obliged to provide to NTRA any documents requested such as reports, statisti cs or information related to their activities . NTRA supersedes 
TRA with all its righ ts and commitments. 
The telecommunication service suppliers should get a license from NTRA before the establishment, operation or provision of telecommunications services, transmissi on of international calls or advertisement of such 
services or transmissions to a third party. In additi on, they should get a prio r permission from NTRA for 
importation, manufacture or assembly  of telecommunications equipment which have to be in compliance with 
approved standards and specifications; NTRA is a resp onsible body for setting out the rules and procedures 
for authenticating of any type of equipment. Importat ion of used telecommunications terminal equipment for 
the purpose of trade is prohibited. NTRA is the authority responsi ble for the frequency spectrum, which includes the following: 
 Regulating and administering all affairs in relation to the use of spectrum in compliance with the 
provisions of this law, 
 Issuing the licenses of frequ ency or bandwidth usage, 
 Developing a spectrum plan for the optimum use, 
 Providing the rules for advanced wireless telecommu nication services considering ITU regulations, 
 Updating the spectrum pricing regime. 
NTRA is authorized to monitor the spectrum for unlicensed frequency usage and to ensure licensee compliance with relevant license conditions. In addition, the crimes mentioned below, among others specified in the law, shall be penalized unless more severe penalties are applied in the Penalty Code or any other law. 
 Destroying or damaging intentionally buildings or installations allocated for telecommunication 
networks, or their infrastructure, or telecommunications lines. 
 Failure to obtain a license from the NTRA for es tablishment or operation of telecommunication 
networks, establishment of infrastructure for telecommunication networks, provision of 
telecommunication services and transfer of international telephone calls by any means.   
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S/C/N/494 Egypt 22.06.09 The Central Bank of 
Egypt Law no. 88 of the year 2003 promulgating the Law of the Central Bank, the banking sector And the Money 
Amended by Law No.162 of the year 2004 and Law no.93 of the year 2005. 
The provisions of the Law shall apply to the centra l Bank of Egypt, the banking sector and the money 
markets. 
 The Central Bank shall be a public legal person, under the direct authority of the President of the 
Republic. Its statute sha ll be promogulated by a degree of the President of the Republic. The legal 
domicile of the central Bank and its head  quarters shall be the city of Cairo. 
 The Governor of the Central Bank shall regularly submit a quarterly report to the President of the 
Republic. The report shall contain an analysis of the monetary, credit and banking developments, as 
well as the external debt balance during the reported period approved  by the Board of Directors of the 
Central Bank. Through its official publications ‘the Eg yptian Journal’, the Centra l Bank shall disclose the 
procedures applied in impl ementing the monetary policy and its de cisions related to the organization of 
regulatory procedures. These procedures and decisi ons should be in accordance with the rules and 
dates specified in its statute. 
 The Central Bank shall undertake to maintain the price stability and a sound banking system, in 
conformity with the general economic policy of the country. It shall set, in agreement with the 
government, the objectives of the monetary policy, through a Coordinating Council to be formed by 
a decree of the President of the Republic, and of which responsibilities will be determined by the 
Executive Regulations. 
 The Central Bank shall take measures ensuring the realization of its objectives. In discharging its 
functions it shall, in particular, have the following power: 
 Issuing banknotes and determining their denominations and specifications. 
 Managing liquidity in the national economy. It may issue the securities commensurate with the nature 
of its funds and activities. 
 Influencing banking credit in a way warranting the fulfillment of the actual needs of the different 
aspects of economic activity. 
 Supervising the units of the banking sector. 
 Managing the gold and foreign ex change reserves of the state. 
 Regulating and managing the foreign exchange market. 
 Supervising the nation al payments system. 
 Recording and following up the external debt of th e government, the economic and service authorities, 
the public sector, the public business sector and the private sector according to the forms to be set by 
the Board of Directors of the Central Bank. 
 In case of a financial crisis or another unforeseen situat ion requiring a necessary intervention in the 
financial markets, the Central Bank may take any measures it considers appropriate, such as the 
extension of the exceptional finance to banks, according to the terms and conditions to be determined 
by the Board of Directors of the Central Bank. It ma y also extend credit to banks and to foreign and 
international institutions and authorities subject to the provisions of this Law. In addition, it may 
guarantee the financing and the credit facilities obtain ed by public legal persons or the banks governed 
by the provisions of this law. 
 Any individual organization or esta blishment not registered  according to the provisions of this Low, 
shall be prohibited from exercising any bank busi ness, with the exclusion of public legal persons 
exercising any of such business within the limits of the deed of their establishment. 
  
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 Any establishment not registered according to the prov isions of this Low, shall be prohibited from using 
the term “bank” or any other expression similar to it in any language, whether in its special name, 
commercial title, or publicity. 
 The issued and fully paid-up capital shall not be le ss than five hundred million Egyptian pounds, and 
the capital appropriated for the activities of the bran ches of foreign banks in the Arab Republic of Egypt 
shall not be less than fifty million US dollars or their equivalent in free currencies. 
 The Governor of the Central Bank, following approval of the Board of Directors, may authorize foreign 
banks to open representative offices for then in the Arab Republic of Egypt, upon the following 
conditions: 
A. They have no branches in branches in the Arab Republic of Egypt. 
B. Their head offices shall be subject to supervis ion by the authority concerned in the countries 
where these offices are situated. 
C. The activity of the representative offices shall be restricted to studying the markets and 
investment potentials, and shal l act as a liaison with the he ad offices abroad. They shall 
contribute to overcoming the pr oblems and difficulties may face their correspondent banks in the 
Arab Republic of Egypt. 
D. These offices are prohibited from exercising any ba nk or trade activity, including the activity of 
commercial agents and financial intermediations. 
 The board of Directors of the Central Bank may, a ccording to the condition and terms it determines, 
authorize banks and branches of foreign banks whose de alings are restricted to free currencies,  to deal 
in the local currency. 
 The Central Bank shall obtain from the foreign banks th at have branches in the Arab Republic of Egypt, 
a guarantee for all deposits at the branch and for al l its other obligations, as determined by the board 
of directors of the central bank. 
 The Central Bank shall be notified of any modification required in the deed of association of any bank or 
in its statue. Any modification in the data submitted on application for registration shall also be 
notified. 
 The bank shall have funds in the Arab republic of  Egypt equivalent to its obligations, and payable 
therefor, in addition to an amount of not less than minimum issued and paid-up capital as prescribed in 
Article(32) of this law. 
 Each bank shall have the power to determine the interest rates on banking transactions it carries out, 
according to the nature of these transaction. It may also determine the fees it applies for the banking 
services, without being restricted by the limits and the provisions prescribed in any other law. 
 Egyptians and others may own the capital of bank s, without being restricted by maximum limit 
prescribed in any other law, and without prejudice to the condition in the law. 
 Whenever one of the banks is exposed to financial pr oblems affecting its financial position, the Board of 
Directors of the Central Bank may ask the manageme nt of the problem bank to provide the necessary 
additional financial resources in the form of paid-u p capital insurance or support funds to be placed 
with the bank according to the conditions and rules set by the Board of Directors of the Central Bank 
and within the period to be determined thereby. Otherwise, the Board of Directors of the Central Bank 
may either specify the increase it considers necessar y in the capital and offer it for subscription, with 
the procedures and conditions to be determined ther eby, or issue a decision for merging the bank with 
another, conditional upon the approval of the bank  with which it is another, conditional upon the 
approval of the bank with which it is merging, or delist the regi stration of the problem bank, according  
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to the rules prescribed in this respect. 
 Every natural or legal person may maintain all fo reign currencies transferre d thereto, or owned or 
possessed thereby. He shall have the right to conduct any foreign currency transaction, including 
inward and outward transfers, and local dealing, providing these transactions shall be made via the 
banks authorized for dealin g in foreign currencies. 
 Authorized banks may carry out all foreign exchange transactions including the acceptance of deposits, 
dealing in foreign exchange, inward and outward tran sfers, operation and hedging with respect to their 
foreign exchange holdings. The export and import of the of foreign banknotes an d the export of foreign 
currencies shall be exclusively undertaken by authoriz ed banks subject to approval of the Central Bank. 
 
S/C/N/116 Egypt 31.03.00 Egyptian Insurance 
Supervisory Authority A. Legislation related to supervision: 
(1) Issuing the Law No. 91/1995 amending the law No. 10/1981 and its executive regulations to cope with 
the economical and international changes in the in surance industry and modern understanding for the 
role of supervisory authority. 
- Law No. 91/1995 stipulates: 
 The capital required for any insurance or reinsurance company at least is L.E 30m. provided that 
half must be paid on establishment. 
 Foreign capital equity is permitted up to 49% of an insurance company's capital (has been 
amended by Law No. 156 of 1998 as mentioned hereinafter). 
 Separating between classes of Non-Li fe business and Life Assurances. 
 Founders of an insurance and reinsurance company must apply at first an application form to 
obtain an initial approval of  the company's incorporation. 
 After approval founders have to take the procedur es of company's incorpor ation according to the 
provisions of the pertaining laws. 
 Increasing the solvency margin for Property & Li ability insurance to 20% of the net premiums, or 
25% of the net incurred claims of the pr evious year, whichever is the greater. 
For Personal Insurance and Capital Redemption Funds the assets should exceed the liabilities at 
any time by the following ratios: (a) equal to 0.3% of the exposure funds of insu rance contracts in force including reinsurance; 
(b) equal to 4% of the mathematical  reserves including reinsurance. 
 The board of directors of the insurance compan y must have two experienced members in the 
insurance activities provided that one of them is responsible of the executive management and 
have the Egyptian nationality (has been amended by Law No. 156 of 1998 as mentioned hereinafter). 
(2) Ministerial Decree No. 97 of 1998 defining the quarterly financial reports and the required analysis data (3) Ministerial Decree No. 100/1998 determining the periodical returns (3 months). (4) Law No. 156 of 1998 to cope with the current stage of liberalization and privatization the opening for 
private participation in the capital of insurance and reinsurance companies belonging to the public 
sector, the law also organizing the terms and qua lifications needed in the modern management for 
companies operating in the market. 
(5) Ministerial Decree No. 356 of 1998 amending some articles of the Executive Regulations, according to 
Law No. 156 hereinabove to ensure the following: 
   
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 * Submitting documents to decl are that relevant managers for underwriting, claims Reinsurance 
and Investments having qualifications and experience pertaining  their activities; 
 * Submitting documents de claring that two of the board of dire ctors having experience in insurance 
area and one of them nominated as managing dire ctor not necessary to be Egyptian Nationality; 
 * Investors should go about notifying the regulator of the intention of buying the shares ranging 
(from 5%-10%). 
 * Investors should get permission from the Prime Minister in case of buying more than 10%. 
(6) Ministerial Decree No. 45/1999 indenting to address the problems of claimants relies and procedures of 
dealing with settlements and deadli ne of claims and disputes regard ing the policy holders and Third 
parties pertaining the insurance policies. 
(7) Ministerial Decree No. 105/1999 for organizing reinsurance legal cessions to Egypt. (8) Issuing other decisions organizing the insurance activities: 
- Decision for defining the items of assets and liabilities of insurance and reinsurance companies in 
order to measure the solvency of insurance companies. 
- Decision defining the shares ownership percen tages of shares for insurance and reinsurance 
companies (30% instead of 20%). 
- The rules organizing the transactio ns of intermediaries profession. 
(B) Legislations related to insurance activity 
- Sharing with Ministry of Housing and Construction in issuing the ministerial decree for the rules 
organizing the professional liability for engineers and contractors. 
- Preparing studies for issuing legislations for TP L compulsory insurance for fire, trains and ships 
accidents for the protection of th ird parties. Preparing a draft law for covering the fire brigade, 
against accidents during their duties. 
- The authority has been revised the code of ethics concerning insurance and reinsurance 
companies. 
 
S/C/N/95 European 
Union 
(formerly 
European 
Communit
ies) 19.02.99 Competent authorities 
of European 
Commission and 
Member States' 
competent 
authorities. (a) Title of the measure:  
 Council Directive 93/22/EEC of 10 May 1993 on investment services in the securities field; 
 Council Directive 93/6/EEC of 15 March 1993 on the capital adequacy of investment firms and credit 
institutions. 
(b) Modes of delivery covered by the measures: 
 (3) Commercial presence 
(c) The effect on trade in services and the impact of the measures on commitments in the Member's 
schedule: 
 Council Directive 93/22/EEC on investment services and Council Directive 93/6/EEC on capital 
adequacy further liberalise securiti es transactions in the European Community. They enhance the right 
of establishment and freedom to provide services in  the securities sector which is included in the 
schedule of specific commitments of the European Community and its Member States. 
 Under Council Directive 93/22/EEC,  non-bank investment firms are permitted to carry out in all 
Member States a wide range of investment business, either by establishing a branch or by providing 
services across the border, once they have obtained authorisation in their home Member State. Neither 
additional authorisation nor endowment capital or any other measure having equivalent effect may be 
requested. Furthermor e, stock exchange membership in all Me mber States will be opened up to all 
types of investment firms, whether bank or non-bank entities.  
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 Council Directive 93/6/EEC, which equally applies to  banks and non-bank invest ment firms, establishes 
common standards for the own funds of investment firms and credit institutions. In addition, it specifies 
the minimum initial capital necessary for setting up an investment firm (whereas the initial capital for 
banks is set by Council Directive 89/646/EEC). 
 
S/C/N/49 Germany 28.01.97 Federal Ministry of 
Economics and the Länder of the Federal Republic of Germany (i) Modes of supply covered by the measures: 
(3) commercial presence (4) presence of natural persons 
(ii) The effect on Trade in Services and the impact of the measures on commitments in the Member's 
schedule: 
 According to the abovementioned amendment the re quirement of reciprocity for the admission to the 
Wirtschaftsprüfer examination of foreigners has been abolished. 
 
S/C/N/48 Germany 28.01.97 Ministry of Justice, 
Germany (i) Modes of supply covered by the measures: 
(3) commercial presence 
(4) presence of natural persons 
(ii) The effect on Trade in Services and the impact of the measures on commitments in the Member's 
schedule: 
 According to the abovementioned amendments the reciprocity condition is no longer required for 
countries-members of WTO whose nationals supply legal advice in Germany on international public law 
and home country law. 
 
S/C/N/109 Guate-
mala 06.10.99 Ministry of Public 
Finance  The purpose of Decree No. 117-97 is to eliminate tax ex emptions, exonerations and deductions in accordance 
with Article 171(a) of the Constitution of Guatemala. It has become necessary, as part of the tax modernization and simplification process, to eliminate benefits in 
the form of tax exemptions, exoneratio ns and deductions from certain laws, inter alia : the Organic Law of the 
Guatemalan Tourism Institute (Article 30(a), (b) and (c) of Decree 1701) and the National Touristic 
Development Law (Article 10 of Decree 25-74) in order to broaden the tax base and improve tax collection, 
with the sole exception of the provisions  of the Constitution  of the Republic. 
 
S/C/N/364 Honduras 27.03.06 National 
Telecommunications 
Commission 
(CONATEL) The objective of Decree No. 326-2005 is to approve each  and every part of Executive Resolution No. 21-2005 
of 14 October 2005, which contains in annex the Reference Paper on Basic Telecommunications of the 
WTO General Agreement on Trade in Services as well as Honduras's Schedule of Commitments on 
Telecommunications. 
 
S/C/N/327 Honduras 05.04.05 National Banking and 
Insurance Commission (CNBS) The objective of Decree No. 129-2004, the Financial System Law, is to regulate the organization, 
authorization, operation, merging, transformation, modification, liquidation and supervision of financial institutions and financial groups, helping them to provide depositors and investors with a transparent, secure and reliable service conducive to the country's development. Financial institutions are required to establish themselves in Honduras as public limited companies with fixed share capital divided into registered shares. The founding partners of such institutions may be legal or natural 
persons. The National Banking and Insurance Commission is th e institution responsible for authorizing, on the 
recommendation of the Central Bank of Honduras, the establishment of financial institutions in Honduras.  
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S/C/N/326 Honduras 05.04.05 Central Bank of 
Honduras The objective of Decree No. 22-2001, the Law on Insuranc e and Reinsurance Institutions, is to regulate the 
establishment, organization, operation, merging, transformation, liquidation and supervision of institutions 
engaged in insurance and reinsurance acti vities and operations , with a view to: 
- Protecting policyholders, subscribers, insured persons and beneficiaries; 
- Promoting the capital strengthening of insurance institutions; and 
- Fostering an environment of free competition between insurance institutions. 
Public limited companies with fixe d share capital may engage in insu rance activities in Honduras. The 
establishment of insurance institutions is subject to  approval by the Central Bank of Honduras, on the 
recommendation of the National Banking and Insurance Commission (CNBS). The founding partners of 
insurance institutions may be legal or natural persons. 
S/C/N/645 Hong 
Kong, China 09.07.12 Agriculture, Fisheries 
and Conservation Department (AFCD)  To protect marine and fisheries resources, Hong Kong, China is introducing a registration system for local 
fishing vessels through the Fisheries Protection (Amendment) Ordinance 2012.  
S/C/N/320 Hong 
Kong, 
China 28.01.05 The Securities and 
Futures Commission 
(SFC) is the primary 
agency responsible 
for implementation 
and enforcement of 
the SFO. The website 
of the SFC can be 
accessed from: 
http://www.hksfc.org.
hk/eng/html/index.ht
ml Mode of supply covered : commercial presence and presence of natural persons 
Effect on trade in service : prudential and regulatory measures which are non-discriminatory and 
competitively neutral. 
Description : 
The Securities and Futures Ordinance (SFO), which co nsolidated the previous legislation governing the 
operation of the securities, futures and non-bank reta il leveraged foreign exchange markets in Hong Kong, 
came into effect on 1 April 2003. 
New measures or changes that may ha ve effect on trade in services: 
(a) Providers of automated trading services, whose oper ations resemble that of an exchange and may have 
systemic impact on the market, may apply for authorisation (Part III) while those whose operations 
resemble that of a securities or futu res dealer may seek a licence (Part V). 
(b) A new term “collective investment scheme” has been  introduced to embrace existing financial products 
and be flexible enough to capture new products and ensure their proper regulation (Part IV). 
(c) A simplified licensing regime o ffers more convenience to brokers, investment advisers etc, who need 
only to have one licence to carry on all the regulated activities that they are eligible to conduct. Banks 
are required to be registered to ca rry on most regulated activities (b ut not securities margin financing 
or leveraged forex trading since these are core  banking functions regulated under the Banking 
Ordinance) (Part V). 
(d) Tighter threshold for disclosure of interests in listed companies (a shareholder owning 5%, down from 
the previous 10%, must disclose) and more timely notification and more notifiable items (Part XV). 
 
S/C/N/319 Hong 
Kong, China 28.01.05 Office of the 
Commissioner of Insurance Part 1 Amendment Regulation adds a definition of “Hong Kong long term insurance business” to Part 1 of The 
Third Schedule to the Insurance Comp anies Ordinance (“Ordinance”), and specifies the audit requirement in 
respect of Form prescribed in the Regulation. The purposes of this Amendment Regulation are to pr ovide a clear delineation of what insurance business 
constitutes Hong Kong long term insurance business and to ensure the integrity of information relating to such business to be submitted to the Insuranc e Authority (“IA”) by a long term insurer. 
Part 8 Amendment Regulation imposes a duty on a long term insurer to submit annually to the IA specific information in the new forms of annual returns fo r its Hong Kong long term insurance business.  
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Further information about the two Amen dment Regulations is available at: 
http://www.info.gov.hk/oci/framework/index.htm  (under the section of “Latest Legislative Developments”) 
 
S/C/N/318 Hong 
Kong, 
China 28.01.05 Office of the 
Commissioner of 
Insurance The Guidance Note is an administrative guideline issued by the Office of the Commissioner of Insurance 
setting out the minimum standard of corporate governan ce expected of an authorized insurer, e.g. clear 
strategic objectives and clear lines of  reporting and division of responsibilities, competence of its directors 
and staff, committees to look after different aspects of its operations, proper internal control system and 
procedures, compliance with laws and regulations and fair treatment of customers. Generally speaking, it 
applies to Hong Kong-incorporated insu rers and other insurers having a su bstantial portion of their insurance 
business sourced in Hong Kong. 
 
S/C/N/317 Hong 
Kong, China 28.01.05 Office of the 
Commissioner of Insurance The Regulation prescribes the standa rd, Professional Standard 1, issued by the Actuarial Society of Hong 
Kong with which the appointed actuaries of life insurers are required to comply. It aims to implement a fully fledged appointed actuary system whereby the appointed actuary has to advise also the insurer on premium 
rates, policy terms and benefits, reinsurance arrangem ents, reserving and investment policies, the insurer’s 
vulnerability to fluctuations in risk experience and so on, in addition to his annual actuarial review on the 
adequacy of the insurer’s reserves. Further info rmation about the Regulation is available at: 
http://www.info.gov.hk/oci/framework/index.htm  (under the section of “Latest Legislative Developments”) 
 
S/C/N/316 Hong 
Kong, 
China 28.01.05 Hong Kong Monetary 
Authority Mode of supply covered : Commercial presence under Market Access 
Effect on trade in services : Liberalization measures 
Description: 
(a) The Banking Ordinance (Amendment of Seventh Schedule) Notice 2002 
 The Banking Ordinance (Amendment of Seventh Schedule) Notice 2002, made under the Banking 
Ordinance, gave effect to the relaxation of the market entry criteria for the banking sector. The 
changes include: 
(i) replacing the US$16 billion asset size criterion for overseas-incorporated banks applicants by the 
much lower balance sheet size criteria applicable to locally incorporated bank applicants, which 
are currently HK$3 billion for customer de posits and HK$4 billion for total assets; 
(ii) reducing the period of operation as a restri cted licence bank or de posit-taking company from 
ten to three years and dispensing with the “association with Hong Kong” requirement for locally 
incorporated applicants seeking to upgr ade to full licensed bank status; and 
(iii) removing the general requirement that a foreign bank should maintain a local representative 
office in Hong Kong for at least one to two year s before it can be considered for authorization. 
These changes enable more institutions to particip ate in the Hong Kong banking sector. For further 
information please refer to the press release issued on 10 May 2002: 
http://www.info.gov.hk/hkma/eng/press/index.htm  
http://www.info.gov.hk/hkma/eng/press/2002/20020510e4.htm   
(b) Deregulation of Interest Rate Rules  
 The Rules on Interest Rates (“IRRs”) issued by the Hong Kong Association of Banks under The Hong 
Kong Association of Banks Ordinance were remove d. Phase 1 of the deregu lation covering time 
deposits with a maturity of less than 7 days took place in July 2000. The final phase of interest rate 
deregulation took place in July 2001. This involved  the removal of the interest rate cap on savings 
accounts and the prohibition of the payment of inte rest on current accounts. Following this, interest  
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rates on all kinds of deposits are freely determined by market forces. 
 The removal of the IRRs helps to promote market liberalization and enhance competition in the banking 
sector. For further information please refer to the press releases issued on 30 May 2000 and 
3 July 2001: 
 http://www.info.gov.hk/hkma/eng/press/index.htm  
http://www.info.gov.hk/hkma/eng/press/2000/20000530e6.htm   
http://www.info.gov.hk/hkma/eng/press/2001/20010703e3.htm   
(c) Removal of one-building condition  
 Foreign banks authorized since 1978 and foreign restricted licence banks authorized since 1990 were 
previously subject to the one-buildi ng condition, which restricted thes e institutions to operate from not 
more than one building. Given such factors as advanc es in technology and the increasing importance of 
electronic delivery channels, the HKMA believes that this policy has outlived its usefulness. By notices 
issued under the Banking Ordinance, the condit ion was first relaxed to three buildings in 
September 1999 and was completely removed in November 2001. 
 This measure has provided foreign institutions with greater flexibility in doing business. For further 
information please refer to the press releases issued on 17 September 1999 and 30 November 2001: 
 http://www.info.gov.hk/hkma/eng/press/index.htm  
http://www.info.gov.hk/hkma/eng/press/1999/990917e4.htm  
http://www.info.gov.hk/hkma/eng/press/2001/20011130e3.htm  
 
S/C/N/315 Hong 
Kong, China 28.01.05 Telecommunications 
Authority The Telecommunications (Amendment) Ordinance 2003 provides a transparent and efficient regulatory 
regime governing merger and acquisition activities to enhance competition in the telecommunications market. It gives the Telecommunications Authority an  effective tool to intervene where a merger and 
acquisition may substantially lessen competition in the market.  
S/C/N/314 Hong 
Kong, 
China 28.01.05 Telecommunications 
Authority (“TA”) Pursuant to a policy statement issued on 20 January  1998 and the Order of the Chief Executive in Council 
made on 4 May 1999, the external telecommunications ma rket has been progressively liberalised as follows: 
 ETS operators have been allowed to refile traffic through Hong Kong between locations at the distant 
ends of Category-A routes* since 1 January 1999. 
 Three local FTNS licensees (i.e. Hutchison Global Communications Limited, Wharf T & T Limited and 
New World Telecommunications Limited) which obtained their FTNS licences in 1995 have been allowed 
to operate external telecommunications facilities since 1 January 2000. 
 The non-cable based external telecommunications facilities (primarily satellites or wireless facilities) 
market has been liberalised since 1 January 2000. 
 Direct investment in bringing phys ical cables (including submarine or  over land cables) to Hong Kong 
(i.e. excluding “Indefeasible Rights of Use”) have been allowed in the external telecommunications 
facilities market since 1 January 2000. 
 External telecommunications market has been fully liberalised since 1 January 2003. 
* Category-A routes are routes over  which it would be possible for genuine price competition to occur 
through direct International Simple Resale (ISR) connection, indirect routing through refiling, direct physical 
connection through competitive external gateway facili ties or such connection indirectly established via 
transit arrangements. 
  
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S/C/N/313 Hong 
Kong, China 28.01.05 Telecommunications 
Authority (“TA”) The objectives of the Amendment Ordinance are to e nhance competition safeguards , improve interconnection 
and access arrangements for telecommunications services, streamline licensing procedures and provide the TA with powers over certain technical areas. The major provisions in the Amendment Ordinance are: 
 Licensing : Under the new licensing framewo rk, the TA is required to publish the terms and conditions 
of licences in the Gazette, issue guidelines for li censing criteria and give reasons in writing to the 
applicant for the denial of a licence. The guidelines for licensing criteria and samples of the licences are available at: 
 http://www.ofta.gov.hk/howto/main.html  
 http://www.ofta.gov.hk/legislation/other_licence/main.html  
 http://www.ofta.gov.hk/tele-lic/main.html  
 Competition Safeguards : Under the Amendment Ordinance, licensees are not allowed to engage in 
anti-competitive practices such as price fixing, pred atory pricing, agreements to share markets, abuse 
of dominant position, misleading or deceptive cond ucts, discrimination in pr icing and the supply of 
goods or services etc. The Amendment Ordinance also raised the financial penalties for anti-competitive 
conduct. 
 Interconnection : Under the Amendment Ordinance, the TA may make determinations on the terms 
and conditions of interconnection if operators fail to reach an agreement. Operators are required to file 
their interconnection agreement with the TA unless the TA waives this requirement. The Amendment  Ordinance also empowers the TA to publish all or  any part of an interconnection agreement. The 
interconnection agreements ente red into by other carriers with the fixed dominant carrier 
(i.e. PCCW-HKT Telephone Limited) are available at: 
 http://www.ofta.gov.hk/Interconnection/main.html  
 Number Resources : The Amendment Ordinance empowers the Secretary for Commerce, Industry and 
Technology (“SCIT”) to make regu lation to provide for allocation and assignment, etc. of number 
resources by auctions, tenders or at charges. 
 Radio Frequency Spectrum Management : Under the Amendment Ordinance, the TA is responsible 
for promoting the efficient allocation and use of the radio spectrum as a public  resource of Hong Kong. 
The TA shall carry out consultation with the telecomm unications industry and in terested persons before 
exercising his powers in relation to allocation and withdrawal, etc. of the radio spectrum. There is also 
an enabling provision in the Amendment Ordinance for the SCIT to prescribe the level of spectrum 
utilisation fees. Before exercising the power to desi gnate the frequency bands to be subject to payment 
of such spectrum utilisation fee, the TA shall also  carry out consultation with the telecommunications 
industry and interested persons. 
 Universal Service Obligation : The Amendment Ordinance empowers the TA to direct one or more 
fixed carrier licensees to undertake the universal obli gation to provide a good, efficient and continuing 
basic service, reasonably available to all persons in Hong Kong. Other licensees may be required to contribute to the cost of providing universal service obligation. The calculation methodology and collection mechanism for such co ntribution are available at:  
 http://www.ofta.gov.hk/tas/tas-usc.html  
 
S/C/N/312 Hong 
Kong, 
China 28.01.05 Telecommunications 
Authority (“TA”) Pursuant to the Order of the Chief Ex ecutive in Council made on 4 May 1999, the local FTNS market has been 
progressively liberalized as follows: 
 Provisioning of telecommunications services over the existing subscription television licensee’s 
(i.e. Hong Kong Cable Television  Limited) hybrid fibre coaxial network has been allowed since  
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January 2000 onwards. 
 Local wireless FTNS market has been liberalized with five local wireless FTNS licences granted in 
February 2000. 
 FTNS market has been fully liberalized since 1 January 2003. 
For further information on the implemen tation of the full liberalisation from 1 January 2003, please refer to 
the statement issued by the TA on 11 January 2002 entitled “Implementation of the Full Liberalisation of the 
Fixed Telecommunications Network Services Market from 1 January 2003” available at: 
http://www.ofta.gov.hk/tas/ftn/ta20020111.pdf  
 
S/C/N/543 India 08.04.10 Department of 
Information Technology, Ministry of Communications and Information Technology  Notifications No.S.O.2689 (E), dated 27 October 2009, and No. S.O.2690 (E), dated 27 October 2009, have 
been issued to fix the date of coming into force of the Information Technology (Amendment) Act, 2008 and to appoint an agency of the Ministry of Communications, Department of Information Technology, Government of India, for the purposes of the said Act, respective ly. The Information Technology (Amendment) Act, 2008 has 
been enacted to provide legal recognit ion for transactions carried out by me ans of electronic data interchange 
and other means of electronic commun ication, which involve the use of al ternatives to paper based methods 
of communication and storage of information to facilitate electronic filing of documents. 
 
S/C/N/499 India 30.06.09 Department of 
Telecommunications, 
Ministry of 
Communications & IT Measures: 
Telecom Regulatory Authority of India (TRAI) Amendmen t Act 2000 regarding setting up of Telecom Disputes 
Settlement and Appellate Tribunal (TDSAT) to regulate telecommunication services adjudicate disputes, 
dispose of appeals and to protect the interests of serv ice providers and consumers of the telecom sector, to 
promote and ensure orderly growth of the telecom sector. 
 
S/C/N/498 India 30.06.09 Department of 
Telecommunications, Ministry of 
Communications & IT 
 Measures: 
Telecom Regulatory Authority of India (TRAI) Act 1997 to regulate the telecommunications services, and for 
matters connected therewith or incidental thereto. 
 
S/C/N/497 India 30.06.09 Department of 
Telecommunications, 
Ministry of 
Communications & IT 
 Measures: 
Indian Telegraph (Amendment) Rules 2004 notifying the Rules for administration of Universal Service 
Obligation Fund. 
S/C/N/81 Indonesia 18.11.98 Bank Indonesia Measure: 
Decree of the Board of Managing Directors of Bank Indonesia No. 30/191A/KEP/DIR dated 2 February 1998 
concerning Exportation or Importatio n of Rupiah Currency from or into Republic of Indonesia Jurisdiction. 
Description: 
- Application of permission to br ing Rupiah currency out or bring Ru piah currency into Republic of 
Indonesia Jurisdiction that exceed RP 10.000.000,- (t en million Rupiah). Application shall be submitted 
to the Managing Director of Bank Indonesia att. th e head of Foreign Department of Bank Indonesia. 
- Application as mentioned above shall state clearly the total number of bank notes and or coins, 
denominations, year of pr int and purpose of use. 
  
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S/C/N/80 Indonesia 30.10.98 Bank Indonesia Measure: 
Decree of the Board of Managing Directors of Bank Indonesia No. 29/192/KEP/DIR dated 26 March 1996 
concerning Guidelines on the Receiving of  Foreign Commercial Borrowing by Banks. 
Description: 
A bank that has received an amount of Foreign Commerci al Borrowing (FCB) shall extend its credits to Export 
Credits for no less than 80 per ce nt of FCB for the current year. 
 
S/C/N/79 Indonesia 30.10.98 Bank Indonesia Measure: 
Decree of the Board of Managing Directors of Bank Indonesia No. 28/122/KEP/DIR dated 5 January 1996 
concerning Bad Cheque  and Bilyet Giros. 
Description: 
- Bad Cheque or Bilyet Giro is a Cheque or Bilyet Giro rejected because of insufficient funds during the 
period in which the drawer is required  to have sufficien t funds available; 
- Should customers draw a Bad Cheque or Bilyet Giro, the bank shall dispatch: 
- The first warning letter for the first re jection of a Bad Cheque or Bilyet Giro; 
- The second warning letter to second rejection; - Notice of account closure in case of: 
- the drawing of 3 or more Bad Cheques or Bilyet Giros within a 6 month period; - the drawing of 1 Bad Cheque or Bilyet Giro  with a nominal amount of 1 billion rupiahs 
or more; 
- the publication of the customer's  name in a curre nt black list. 
 
S/C/N/78 Indonesia 30.10.98 Bank Indonesia Measure: 
Decree of the Board of Managing Directors of Bank Indonesia No. 27/118/KEP/DIR, 25 January 1995 
concerning Criteria of Reprehensible Acts Precluding  persons from Holding Positions as Bank Shareholders 
and/or in Bank Management. 
Description: 
- The provisions governing the criteria of reprehensi ble acts precluding person s from holding positions as 
bank shareholders and/or in bank management are intended to protect banks from those whose 
attitude, behaviour and involvement pose a risk to the operations and soundness of the bank. 
 
- The criteria for persons banned from becoming shareh olders and/or managers of  banks are as follows: 
(a) Bank shareholders, management or employees co nsidered to be involved in or responsible for 
such acts as embezzlement and manipulation, fictitious transactions, and collusion with customers 
and other parties. 
(b) Bank management, former bank management an d other connected parties who in the past are 
considered to have been involved in or respon sible for causing serious difficulties for the bank 
under their management. 
(c) Shareholders or bank management who have be en requested by Bank Indonesia to relinquish 
their positions pursuant to Act No. 7 of 1992 concerning Banking Act. 
(d) Bank shareholders and management  listed as bad debtors at a bank. 
(e) Persons declared by a court decision or accordin g to widely available info rmation are perceived to 
lack good character and morals, and therefore may endanger the bank. 
  
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(f) Persons serving a criminal sentence or having been convicted of a banking or economic crime in 
a court decision with permanent legal force. 
- A legal entity shall be banned from becoming a shareholder in a bank if its shareholder and/or 
management fall within criteria concerned. 
 
S/C/N/660 Japan 05.11.12 Ministry of Justice Act on Special Measures concerning the Handling of Legal Services by Foreign Lawye rs 
(1) The ban on the employment of Bengoshi (a lawyer  qualified as “Bengoshi” under Japanese law) by 
Gaikoku-Ho-Jimu-Bengoshi (a foreign lawyer qualified under Japanese law) is removed. 
(2) As regards a joint enterprise operated by Gaikoku- Ho-Jimu-Bengoshi and Bengoshi, or a Legal Profession 
Corporation, Gaikoku-Ho-Jimu-Bengoshi is allowed to freely operate a joint enterprise with Bengoshi or 
a Legal Profession Corporation without limitation  to the scope of legal services to handle. 
Affected commitments: 
"Association with Bengoshi is permitted. Employment of Bengoshi is not permitted." in ( ⅱ), mode(3) of the 
column of additional commitments in sector 1.A.a). "Legal advisory services on law of jurisdiction where the 
service supplier is a qualified lawyer"  
S/C/N/659 Japan 05.11.12 Ministry of Justice Due to the amendment of the Ordinance for Enforcemen t of the Immigration Contro l and Refugee Recognition 
Act, the periods of stay of a natural person who falls in one of the categories a) and b) in the Horizontal 
Commitments of Japan’s schedule have been changed to 3 months, 1 year, 3 years and 5 years; in this 
regard, “3 months” and “5 years” are newly established.  Above all, the extension of the period of stay to 
a maximum of 5 years will be the most significant change in this context. 
Affected commitments: 
categories a) and b) –defined in Limitations on ma rket access for mode 4), "I.HORIZONTAL COMMITMENTS". 
 
S/C/N/571 Japan 05.10.10 Ministry of Land, 
Infrastructure, Transport and Tourism  According to the revision of Port Transportation Business Act, the licensing requirement system to enter/leave 
the Port Transportation Business was shifted to permission requirement system. The requirements of economic needs tests were eliminated regarding Port Transportation Business. 
Affected commitments in the schedule: 
Maritime Cargo handling services and Container station and depot services in sector 11A (Maritime Auxiliary 
Transport Services). 
 
S/C/N/234 Japan 28.10.03 Ministry of Health, 
Labour and Welfare According to the revision of the La w for Securing the Proper  Operation of Worker Dispatching Undertakings 
and Improved Working Conditions for Dispatched Worker s, supply services of personnel within Japan for 
some of medical related works such as at so cial welfare facilities is now permitted. 
Affected commitments in the schedule: 
“Supply services of personnel within Japan in the followi ng sixteen categories of business (limited to services 
to dispatch workers employed by the service supplier to work under the directio n of another person while 
employment relationship with the service supplier is maintained)” in sector 1F(k). 
 
S/C/N/205 Japan 13.11.02 Japan Patent Office, 
Ministry of Economy, Trade and Industry According to the amendment of the Patent Attorney (Benrishi) Law: 
- It has been allowed to establish judicial persons,  composed of patent attorneys as "Benrishi" under 
Japanese law, in order to prov ide patent attorney services. 
- The residency requirement was abolished.   
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Affected commitment in the schedule: 
1.A(a) "Legal services supplied by a patent attorney qualified as "Benrishi" under Japanese law" for 
modes (1), (2) and (3).  
 
S/C/N/204 Japan 13.11.02 Ministry of Public 
Management, Home 
Affairs, Posts and 
Telecommunications The NTT Law was amended and the restriction on foreign capital participation in NTT was relaxed to less than 
one-third from less than one-fifth. 
Affected commitment in the schedule: 
"Foreign capital participation, direct and/or indirect, in NTT and KDD must be less than one-fifth" in mode (3) 
of the column of limitation on market access in sector 2.C "Telecommunications services".  
 
S/C/N/203 Japan 13.11.02 Ministry of Finance; 
National Tax Agency According to the amendments of the Tax Accountant Law (1 April 2002), a Certified Tax Accountant 
Corporation, composed of only qualified tax accounta nts under the Tax Accountant Law, may be established 
to provide taxation services. Affected commitment in the schedule: 
1.A(c) "Taxation services supplied by a tax accountant qualified as "Zeirishi" under Japanese law" for modes (1), (2) and (3).  
 
S/C/N/202 Japan 13.11.02 Ministry of Justice According to the amendment of the Lawyer Law, it has been allowed to establish ju dicial persons, composed 
of lawyers qualified as "Bengoshi" under Japanese law, in order to provide legal services. 
Affected commitment in the schedule: 
1. A. (a) "Legal services supplied by a lawyer qualified as “Bengoshi” under Japanese law" for modes (1), (2) 
and (3). 
 
S/C/N/201 Japan 13.11.02 Financial Services 
Agency; Ministry of Finance; 
Ministry of Land, 
Infrastructure and Transport According to the amendment of Automobile Liability Security Law and the relevant laws, the compulsory 
reinsurance by the Government of th e compulsory automobile third party liability insurance was abolished. 
Affected commitment in the schedule: 
"60 percent of amounts of re insurance on the compulsory automobile third party liability insurance is subject 
to the compulsory coverage by the Government" in modes (1), (2) and (3) of the column of limitation on market access in sector 7.A "Insuran ce and insurance-related services". 
 
S/C/N/179 Japan 06.11.01 Ministry of Health, 
Labour and Welfare (A) Ministerial Ordinance No. 91 in 1997 
 With respect to the management of the assets of Employees' Pension Funds (hereinafter referred to as 
"Funds"), the asset allocation regulation which is applied to the total assets of Funds (so-called 5:3:3:2 
rule) was eliminated. 
(B) Cabinet Ordinance No. 81 in 1998 
(a) With respect to the assets of Funds qualified by appropriate authorities to be managed by 
discretionary investment manageme nt service suppliers, the three-year qualification requirement 
with respect to the required duration of the Funds following their establishment was eliminated. 
(b) With respect to the Funds of which duration following their establishment is three years or longer, 
the ceiling of ½ of total assets with respect to the assets of Funds which can be managed by 
discretionary investment management service suppliers was eliminated. 
(C) Cabinet Ordinance No. 321 in 1998 
 With respect to the Funds of which duration following their establishment is less than three years, the 
ceiling of ½ of total assets with respect to the as sets of Funds which can be managed by discretionary  
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investment management service suppliers was eliminated. 
(D) Law No. 19 in 2000 
 Pension Welfare Service Public Corporation was di sestablished. Government Pension Investment Fund 
was allowed to manage the pension fund by itself. Wi th respect to the management of the pension fund 
of Government Pension Investment Fund, no asset allocation regulation were applied to the total assets 
of Government Pension Investment Fund, and in vestment advisory companies were allowed to 
participate in the management of the pension fund of Government Pension Investment Fund. 
 Affected commitments: 
 "Additional Commitments on sector 7B: Banking and Other Financial Services (excluding Insurance and 
Insurance-Related Services) 
1. With respect to the assets of Employees' Pension Funds (hereinafter referred to as "Funds") 
qualified by appropriate authoritie s to be managed by discretionar y investment management service 
suppliers, the eight-year qualification requirement wi th respect to the required duration of the Funds 
following their establishment is reduced to three years. 
2. There is a ceiling of ½ of total assets with respect to the assets of Funds which can be managed 
by discretionary investment management service suppliers. The ceiling will be eliminated by 
March 1999. 
3. No asset allocation guidelines are applied to individual pension fund management service 
suppliers with respect to the management of fund  assets of the Pension Welfare Service Public 
Corporation (excluding the commingled fund management of insurance companies) or of the assets of 
Funds (excluding the commingled fund management of insurance companies) which can be managed 
by discretionary investment service suppliers. 
5. Appropriate authorities permit the Pension Welfare Service Public Corporation to allow investment 
advisory companies to participate in the management  of its fund assets through a variation on the 
"Shiteitan" framework. At the time of the comprehensive review of the Japanese pension system in 
1999, this scheme was reviewed." 
 
S/C/N/131 Japan 25.09.00 Ministry of Labour According to the revisi on of Enforcement Regulation for Employment Security Law, Co ncerning fee-charging 
employment placement project, exchange employment ma y be carried on except the following categories of 
workers: (a) administrative jobs; (b) sales jobs; (c) manual labourer, except an expert and a technician, engaged in occupations of service; (d) security gu ard occupations; (e) manu al labourer, engaged in 
occupations of agriculture, forestry  and fisheries; (f) manual labourer, except an expert and a technician, 
engaged in occupations of transportation and telecomm unications; (g) skilled worker, except an expert and 
a technician, and manual labourer, except an expert an d a technician, engaged in occupations of excavation, 
manufacturing, building and so on. These restrictions are not applicable to the placemen t of people who have graduated from school for less 
than one year in administra tive jobs or sales jobs. 
Affected commitments: 
“Placement services of personnel within Japan in the following twenty-nine occupations (limited to services to establish employment relationship between a job applic ant and an employer seeking personnel on the basis 
of job applications and o ffers)” in sector 1F(k). 
 
S/C/N/130 Japan 25.09.00 Ministry of Labour According to the revision of Law for Securing the Prop er Operation of Worker Dispatching Undertakings and 
Improved Working Conditions for Di spatched Workers, Worker dispatching undertakings may be carried on,  
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except port transport services, cons truction work, guarding, and other wo rk ordained by Cabinet Order after 
consulting the Central Employment Security Deliberative Council (medical related work is applicable to this). 
But, a worker dispatching undertakin g related to some of manufacturing work ordained by the Ministry of 
Labour Ordinance can not be carried on for a while. 
Labour supply and demand adjustment condition is abolished. 
Affected commitments: 
“Supply services of personnel within Japan in the followi ng sixteen categories of business (limited to services 
to dispatch workers employed by the service supplier to work under the directio n of another person while 
employment relationship with the service supplier is maintained)” in sector 1F(k). 
“The number of licences conferred to service suppliers ma y be limited” in mode 3 of the column of limitation 
on market access in sector 1F(k).” Supply services of personnel within Japan in the following 
sixteen categories of business (limited to services to  dispatch workers employed by the service supplier to 
work under the direction of anothe r person while employment relation ship with the service supplier is 
maintained)”. 
 
S/C/N/129 Japan 25.09.00 Ministry of Labour According to the revision of Employment Security Law, concerning fee-charging emplo yment placement 
project, exchange employment may be  carried on except port transport services, construction work, and 
work which is ordained by the Ministry of Labour Ordi nance that there is a possibility of hindering worker’s 
protection. (Such work is not ordained now). Labour supply and demand adjust ment condition was abolished. 
Affected commitments: 
“Placement services of personnel within Japan in the following twenty nine occupations (limited to services to establish employment relationship between a job applic ant and an employer seeking personnel on the basis 
of job applications and o ffers)” in sector 1F(k). 
“The number of licences conferred to service suppliers ma y be limited” in mode 3 of the column of limitation 
on market access in sector 1F(k). “Placement services of personnel within Japan in the following 
twenty nine occupations (limited to services to establish employment relationship between a job applicant 
and an employer seeking personnel on the basis of job applications and offers)”. 
 
S/C/N/128 Japan 22.09.00 Ministry of Justice According to the revision of the Ministerial Ordinance to Provide for Criteria pursuant to Article 7, Paragraph 
1, Item 2 of the Immigration-Control and Refugee-Recognition Act, the maximum period (5 years) of stay 
under the status of residence “Intra-company Transferee” was abolished. 
Affected commitments: 
“Unbound except for measures concerning the entry an d temporary stay of a natural person who falls in 
one of the following categories: 
(a) A natural person who has been employed by a ju ridical person of a Member other than Japan for 
a period not less than one year im mediately preceding the date of his application for the entry and 
temporary stay in Japan, and who is  being transferred, for a period no t exceeding 5 years, to a branch 
office or a juridical person constituted or re gistered in Japan owned or controlled by the 
aforementioned juridical person of a Member other than Japan, provid ed that he will be engaged in 
one of the following activities: (i) Activities to direct a branch office as its head; (ii) Activities to direct 
a juridical person as its board member  or auditor; (iii) Activities to direct one or more  departments or 
a juridical person; (iv) Activities which require te chnology and/or knowledge at an advanced level 
pertinent to physical sciences, engineering or othe r natural sciences; and (v) Activities which require  
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knowledge at an advanced level pertinent to ju risprudence, economics, business management, 
accounting or other humanities sciences. 
(b) A natural person who has been employed by a juri dical person of a Member other than Japan or has 
been a partner in it for a period not less than  one year immediately preceding the date of his 
application for the entry and temporary stay in Ja pan, and who is being transferred to Japan, for 
a period not exceeding 5 years and who will return to  the aforementioned juridical person of a Member 
other than Japan upon the expiration of the said period, provided that he will be engaged in one of the 
following activities of professional services which may be engaged only as a natural person and not as 
an employee: (i) Legal services supplied by a lawy er qualified as “Bengoshi” under Japanese law; 
(ii) Consultancy on law of jurisdiction where the service supplier is a qualified lawyer; (iii) Legal 
services supplied by a patent attorney qualified as “Benrishi” under Japanese law; (iv) Legal services 
supplied by a maritime procedure ag ent qualified as “Kaijidairishi” under Japanese law; (v) Accounting, 
auditing and bookkeeping services supplied by an  accountant qualified as “Koninkaikeishi” under 
Japanese law; and (vi) Taxation services supplied by a tax accountant qualified as “Zeirishi” under 
J a p a n e s e  l a w ”  i n  m o d e  4  o f  t h e  c o l u m n  o f  l i m i t a t i o n  o n  m a r k e t  a c c e s s  i n  s e c t o r  “ A L L  S E C T O R S  
INCLUDED IN THIS SCHEDULE”. 
 
S/C/N/127 Japan 22.09.00 Financial Services 
Agency According to the revision of The Securities Investment Trust Law, the entry of non-residents in the form of 
branches located in Japan which are owned by juri dical person equivalent to a joint-stock company 
incorporated under the laws of the foreign co untry has been allowed since 1 December 1998. 
Affected commitments: 
“Commercial presence for investment trust management services must be juridica l person established in 
Japan.” in mode (3) of the column of limitation on ma rket access in sector 7B-”Banking and Other Financial 
Services (excluding Insurance an d Insurance-Related Service)”. 
 
S/C/N/84 Japan 18.11.98 Ministry of Finance  
Financial Supervisory 
Agency According to the revision of Law concerning non-life in surance rating organization, obligations for members of 
the rating organization to use rates calculated by the rating organization have been eliminated since 
1 July 1998. 
Affected commitments in the Schedule: 
"By no later than 1 July 1998, appropriate authorities will eliminate obligations for members of a rating 
organization to use rates calculated by the rating orga nization for the provision of insurance services while 
allowing members of a rating organization to use, for the purpose of calculating rates, the statistical data 
collected by the rating organization ." in the column of additional commitments in sector 7.A " Insurance and 
Insurance-Related Services " of Japan's Schedules attached to Fifth Protocol to the General Agreement on 
Trade in Services. 
 
S/C/N/83 Japan 18.11.98 Ministry of Transport According to the revisi on of Law Relating to the Prevention of Marine Pollution a nd Maritime Disaster, the 
limitation of the number of licences conferred to serv ice suppliers of waste oil disposal at sea from vessels 
has been abolished since 27 May 1998. Affected commitments in the Schedule: 
"the number of licences conferred to service suppliers  of waste oil disposal at sea from vessels may be 
limited ." in mode (3) of the column of limitation on market access in sector 6B-" Waste Disposal Services ". 
  
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S/C/N/82 Japan 18.11.98 Ministry of Posts and 
Telecommunications The KDD Law was abolished. Consequently, there is no restriction on foreign capital participation and 
nationality of board member s and auditors in KDD. 
Affected commitments in the Schedule: 
"Foreign capital participation, direct and/or indirect, in KDD must be less than one-fifth. " in mode (3) of the 
column of limitation on market access, and " Board members and auditors in  KDD are required to have 
Japanese nationality. " in mode (3) of the column of limitati on on national treatment in sector 2.C 
"Telecommunications services ". 
 
S/C/N/77 Japan 18.09.98 Ministry of Justice Special Measures Law Concerning the Handling of Legal Business by Foreign Lawyers i s revised as follows: 
(1) Relaxation of requirements of practising experience 
Regarding the practical experience requirement for qu alification which is one of standards for approval 
as a gaikokuho-jimu-bengoshi  (a foreign lawyer qualified by Japa nese law), necessary period during 
which an applicant has to engage in practice as a fo reign lawyer in the foreign country where he or she 
acquired a qualification to become a lawyer of that country ("home country") is shortened to three years. The period of a foreign lawyer of having engaged in  legal business concerning the law of his or her 
"home country", on the basis of the qualification to become a lawyer of that country, in a foreign country other than the "home country" could be included to the above period. In cases where a person, after being qualified to become a lawyer of the foreign country, was under 
the employment of a bengoshi  or a gaikokuho-jimu-bengoshi  in Japan,  up to one-year period of the 
time in total during which as an employee he or she has rendered services regarding the law of the 
"home country" to a bengoshi or a gaikokuho-jimu-bengoshi, shall be regarded as the period of his or 
her having engaged in practice as  a lawyer in the "home country". 
(2) Lifting a ban on performing the legal business regarding the third country law a gaikokuho-jimu-
bengoshi is allowed to perform the legal business rega rding the third country law according to the 
written advice on each issue from competent pers ons prescribed in the afore-mentioned Special 
Measures Law (e.g. lawyers qualified in the third coun try and engaging in legal business concerning the 
law of that country). 
(3) Relaxation of restrictions on the ob jectives of joint enterprise between a gaikokuho-jimu-bengoshi  and 
a bengoshi.  
Restrictions on the objectives of joint enterprise between a gaikokuho-jimu-bengoshi  and a bengoshi  
are relaxed. The joint enterprise could institutionally offer a consistent legal service based on a comprehensive co-operation between a gaikokuho-jimu-bengoshi  and a bengoshi  up to the stage of 
ultimate solution of the following foreign legal cases: 
 - legal cases which require knowledge of foreign law;  - legal cases in which all or part of parties have addresses, main offices or headquarters in foreign 
countries; and 
 - legal cases committed by a company whose the ma jority of stocks or shares is owned by those 
persons who have addresses, main offices or headquarters in foreign countries. 
 Affected commitments in the Schedule: 
"Consultancy on law of jurisdiction where the service supplier is a qualified lawyer"; "The service supplier has engaged himself as a lawyer for at least 5 years in the jurisdiction." in ii) of Note for transparency; and "Practice of third country law and Japanese law is not permitted." in i), mode (3) of the column of additional comm itments, in sector 1.A. a).  
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S/C/N/62 Japan 23.05.97 Ministry of Justice The revision of Special Measures Law Concerning th e Handling of Legal Business by Foreign Lawyers 
authorizes gaikokuho-jimu-bengoshi (foreign lawyers qu alified by Japanese law) to represent parties in 
international arbitration proceedings regardless of the applicable law, and foreign lawyers (excluding 
gaikokuho-jimu-bengoshi) engage d in legal business in a foreign country to represent parties in international 
arbitration proceedings which they were requested to undertake or undertook in that country, regardless of 
the applicable law they are qualified for. 
Affected commitments in the Schedule: 
"Representation in arbitration is permitted, provided that  the applicable law in the arbitration is the law which 
the service supplier is qualifie d to practice in Japan." in mode (3) of the column of additional commitments in 
sector 1.A.a) - "consultancy on law of jurisdiction  where the service supplier is a qualified lawyer". 
 
S/C/N/61 Japan 23.05.97 Ministry of Finance According to the revisi on of Foreign Exchange and Fo reign Trade Control Law, the su m of overseas deposits 
and trust contracts denominated in foreign currencies subject to approval has been increased from over 
100 million yen value to over 200 million yen value. Affected commitments in the Schedule: 
"Overseas deposits and trust contracts denominated in foreign currencies, the sum of which are over 
100 million yen value, and those denominated in yen are subject to approval." in mode (2) of the column of limitations on market access in sector 7.B. - "Banking  and Other Financial Services (excluding Insurance and 
Insurance-Related Services)"  
S/C/N/60 Japan 26.05.97 Ministry of Finance According to the comprehensive revision of Insurance Business Law, establishment of commercial presence 
as insurance broker has been allowed and the requir ement of "in yen currency" concerning the foreign 
insurance companies’ obligation to retain certain amount of asset in Japan has been abolished since 
1 April 1996. 
Affected commitments in the Schedule: 
(1) "Establishment of commercial presence as insuranc e brokers is not allowed until the end of June 1996." 
in mode (3) of the column of limitations on market  access in sector 7.A. - "Insurance and Insurance-
Related Services". 
(2) "Foreign life insurance companies are required to  retain in yen currency an  amount corresponding to 
their technical and claim reserves  for yen-denominated insurance policies in Japan until the end of 
June 1996." in mode (3) of the column of limitations on national treatment in sector 7.A - "Insurance 
and Insurance-Related Services". 
 
S/C/N/59 Japan 23.05.97 Ministry of Labour According to the revision  of Law for Securing the Proper Operation of Worker Dispatc hing Undertakings and 
Improved Working Conditions for Dispatched Workers,  supply services of personnel with in Japan in the 
following additional eleven categories  of business have been permitted: 
(1) Businesses corresponding to itinerary management business conducted by those who accompany 
travellers in travels other than sponsored travels  provided in paragraph 4, Ar ticle 2 of Law on Travel, or 
supply of services, incidental to the said business, for the convenience of travellers; 
(2) Research on science, developmen t of new products produced with kn owledge on science or technology 
to which science is applied or development of new method of production of products produced with 
knowledge on science or technology to which science is applied; 
  
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(3) Investigation, planning or drafting on prepar ation of systems necessary for companies to conduct 
businesses or on preparation of mana gement methods of the said systems; 
(4) Editing in the process of production of works, in cluding books and magazines, composed of sentences, 
photographs, charts and so on; 
(5) Designing, planning or giving ex pressions to designs of goods, designs of wrapping of goods or designs 
for display of goods or advertisement of goods or companies; 
(6) Consulting on or designing or expressing of de signs or arrangements of lightning equipments and 
furnishings indoors; 
(7) Reading manuscripts, such as in broadcasting programs, for which a high degree of professional 
knowledge, technical skills or experiences is need ed, or giving expressions by means of voice and 
sound accompanied by interviews, or presiding; 
(8) Teaching or instructing how to operate office equipment, how to use systems which work by using 
computers or how to use programs; 
(9) By means of telecommunications, explaining or cons ulting on goods, rights or services, applying for 
sales contracts of goods or rights or contracts of  supplying services for consideration, receiving 
applications for those contracts, concluding those cont racts, or soliciting applications for or conclusions 
of those contracts; 
(10) Explaining or consulting for customers on machin es designed in accordance with customers demands, 
facilities composed of machines, or programs, applying for sales contracts of machines designed in 
accordance with customers demands, facilities composed of machines, or programs, receiving 
applications for those contracts, concluding those cont racts, or soliciting applications for or conclusions 
of those contracts; 
(11) Procuring, producing, establishing, operating or ca rrying in or out of stage setting or stage properties 
which are used to produce broadcasting programs and so on. 
Affected commitments in the Schedule:  
Commitments in sector 1.F.k) - "Supply services of pers onnel within Japan (limited to services to dispatch 
workers employed by the service supplier to work unde r the direction of another person while employment 
relationship with the servic e supplier is maintained)" 
 
S/C/N/58 Japan 23.05.97 Ministry of Finance According to the comprehensive revision of Governme nt Ordinance on the Implementation of Insurance 
Business Law, the cross-border insurance transactions for ships of Japanese registration which are used for 
international maritime transport and aircraft of Japanese registration have been liberalized since 1 April 1996.  
Affected commitments in the Schedule: 
"The cross-border insurance transactions for ships of Japanese registration which are used for international 
maritime transport and aircra ft of Japanese registration  will be liberalized by the end of June 1996." in 
mode (1) and (2) of the column of limitations on mark et access in sector 7.A. - "Insurance and Insurance-
Related Services". 
 
S/C/N/228 Kyrgyz 
Republic 19.02.03 National Bank Banking 
Reference is made to the Kyrgyz Republic's Schedule of Specific Commitments on Service in Sector 7.B, 
limitations on national treatment column, mode 3. According to Resolution of the National Bank of the Kyrgyz Republic #48/3 of 26 December 2001 "On Minimum Capital (owners' equity) of Commerc ial Banks" the following was established:  
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From 1 April 2002, the minimum capital (owners' equi ty) for commercial banks of the Kyrgyz Republic 
(including saving companies and branches of fore ign banks) shall be amounted to not less than 
2.5 million soms*, 
Resolution of the National Bank of the Kyrgyz Repu blic #48/3 of 26 December 2001 "On Minimum Capital 
(owners' equity) of Commercial Bank s" shall not change the provisions, stipulated by Resolution of the 
National Bank of the Kyrgyz Republic #61/1 of 20 September 1999 "On Minimal Capital for Commercial Banks".  * Official exchange rate as established by the National Bank of the Kyrgyz Republic on 18 December 2002 was 1 US$ ~ 46.19 som.  
S/C/N/120 Kyrgyz 
Republic 08.06.00 National Commission 
on Securities Market Financial Services 
Reference is made to the Kyrgyz Republic's Schedule of Specific Commitments on Service in Sectors 7.B(f), 
(g), (h), (I), (j) and (k) limitations on market access column, mode 3. 
According to the Resolution of the Cabinet of Minister s #312 of 4 June 1999 which approved Regulations On 
the Procedure of Licensing of Professional Activity on Securities the following changes were introduced: 
- Individual licences are issued for each type of professional activities in securities, whereas it was 
possible under previous rules to obtain a single licence for multiple types of activities; 
- Fee for issuance of the licence is increased from 835 Soms to 2370 Soms* 
- The reason for refusal to issue a licence based on the losses of the legal entity applying for a licence is 
eliminated; 
- A number of requirements with respect to the content of the charter of the stock exchange are 
eliminated. 
 
* Official exchange rate as  established by the National Bank of the Kyrgyz Republic on 25 March 2000 was 
US$ 1~47.75 Soms. 
 
S/C/N/119 Kyrgyz 
Republic 08.06.00 Ministry of Finance Taxation Services 
Reference is made to the Kyrgyz Republic's Schedule of Specific Commitments on Service in Sector 1.A(c), 
limitations on market access column, mode 3. The Law on Tax Consultants #37 of 8 May 1999 has introduced licensing requirement for the engaging in taxation activities. The regulations impl ementing the Law are being developed. 
 
S/C/N/118 Kyrgyz 
Republic 08.06.00 State Commission on 
Auditing Activity Auditing Services 
Reference is made to the Kyrgyz Republic's Schedule of Specific Commitments on Service in Sector 1.A(b), 
limitations on market access column, mode 3. 
According to the Resolution of the Government #311 of  4 June 1999 On Approval of the Regulations On the 
Procedure of Licensing of Auditing Ac tivity in the Kyrgyz Republic and the Procedure of Qualification Test of 
Auditing Activity the following measures were introduced: 
- Term of the licences to engage in auditing activi ties is extended from 1 ye ar to up to 3 years; 
- Term of Qualification Certificates which are required to obtain an auditing licence is extended from 
1 year to 5 years; 
- Fee for issuance of the licences is increased from 10 and 15 minimal monthly wages (1 monthly wage 
is equal to 100 soms) to 9600 soms*;  
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- Fee for issuance of the qualification certificates are increased from 3 and 5 minimal monthly wages to 
2,500 soms. 
 
* Official exchange rate as  established by the National Bank of the Kyrgyz Republic on 25 March 2000 was 
US$ 1~47.75 Soms. 
 
S/C/N/117 Kyrgyz 
Republic 08.06.00 State Agency on 
Intellectual Property (Kyrgyzpatent) Services in the sphere of industrial property 
Reference is made to the Kyrgyz Republic's Schedule of Specific Commitments on Service in Sector 1.A(k) 
limitations on market access column, mode 4. Regulations on Patent Agents approved by Resolution on the Extended Committee of the State Agency on Intellectual Property #4 of 6 July 1999 introduced the following measure which affects trade in services by patent agents: - A power of attorney granted to kyrgyz patent agents  by foreign persons shall be issued according to 
the law of the country, which issued the document. Only in case of doubts in authenticity of a power of attorney, Kyrgyzpatent may require it  to be legalized in a consular office of the Kyrgyz Republic. Under 
previous rules it was required that powers of attorney to be legalized in a consular office of the Kyrgyz Republic in all cases. 
 
S/C/N/114 Kyrgyz 
Republic 13.01.00 National Bank Banking 
Reference is made to the Kyrgyz Republic's Schedule of Specific Commitments on Services in Sector 7.B, 
limitations on national treatment column, mode 3. 
According to Resolution of the National Bank of the Kyrgyz Republic #34/5 of 14 December 1998 "On 
Increasing of the Minimal Capital fo r Commercial Banks" the following schedule for increasing the minimum 
capital requirement for banks was established: 
 For Banks without foreign 
participation established 
prior to entry into force of 
Resolution #34/5 For Banks 
established after 
the date of 
Resolution #34/5 For Banks with foreign 
participation established 
prior to entry into force 
of Resolution #34/5 
By 31 March 1999 20 min. Soms* 100 min. Soms 40 min. Soms 
By 31 March 2000 25 min. Soms 100 min. Soms 45 min. Soms 
By 31 March 2001 35 min. Soms 100 min. Soms 50 min. Soms 
By 31 March 2002 50 min. Soms 100 min. Soms 50 min. Soms 
By 31 March 2003 100 min. Soms 100 min. Soms 100 min. Soms 
The above Resolution is no longer in force starting from 1 October 1999 . According to Resolution of the 
National Bank of the Kyrgyz Republic #61/1 of 20 September 1999 "On Minimal Capital for Commercial 
Banks" the above schedule is replaced by the following: 
(a) Commercial banks (including branches of foreign banks), irrespective of whether or not with foreign 
participation, established after 1 October 1999 are subject to the minimal capital requirement for 
300 min. Soms. 
(b) For existing commercial banks (including branches  of foreign banks), irrespective of whether or not 
with foreign participation, minimal capital must be 50 min. Soms by 31 July 2000 and 100 min. Soms 
by 31 July 2001. 
  
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* Official exchange rate as established by the National Bank of the Kyrgyz Republic on 28 August 1999 was 
US$ 1 ~ 42.47 Soms. 
S/C/N/184 Latvia 22.01.02 Ministry of Transport This regulation de termine the commission of auction to pass-out three mobile te lecommunication licences of 
new UMTS standard (one of them also in GSM 1800 standa rd) organization of activity, main target, obligation  
and rights as well as procedure of ac ceptance decisions. The target of commission of auction is to provide in 
own terms successful auction of three mobile telecommun ication licences of new UMTS standard (one of them 
also in GSM 1800 standard).  
S/C/N/183 Latvia 22.01.02 Ministry of Finance, 
Securities Market 
Commission The present Law shall establish the procedure for public issue, registration and circulation of securities, the 
operation and responsibility of securities market participat ion, as well as the protecti on investors' interests by 
ensuring transparency and equal opport unities for all persons to conduct activities in the securities market 
and equal access to information related to public is sue, registration and ci rculation of securities. 
 
S/C/N/677 Lesotho 14.01.13 Ministry Tourism, 
Environment and Culture  The act is used for the regulation of accommodation, catering and other tourism enterprises and for related 
matters. 
S/C/N/676 Lesotho 14.01.13 Central Bank of 
Lesotho The Financial Institutions (Merger and Transfer of Assets and Liabilities) Regulations 2004, sets out 
procedures to be followed by a financial institution in effecting a merger or transfer of assets and liabilities 
and the minimum conditions that shall be fulfilled by a merging or transferor institution 
 
S/C/N/675 Lesotho 14.01.13 Central Bank of 
Lesotho The Financial Institutions Act 2012, provides for the auth orization, supervision and regulation of banking and 
non-banking financial institutions, agents of financial institutions, agents of financial institutions and ancillary financial service providers and for related matters. 
 
S/C/N/674 Lesotho 14.01.13 Lesotho 
Communications 
Authority Lesotho Communications Authority (U niversal Access Fund) rules 2009 
The Lesotho communications Authority Rules came into force in March 2001 and shows the procedures and 
rules to be followed when setting up businesses in Lesotho. 
 
S/C/N/673 Lesotho 14.01.13 Lesotho 
Communications Authority Communication Act, No. 4 2012 
The act provides for the regulation of the telecommunications, broadcasting and postal sectors, and for related matters.  
S/C/N/42 Liechten-
stein 10.12.96 Ministry for 
Transportation and 
Telecommunications  
 Law on Telecommunications (TelG) of 20 June 1996 (LGBl. 132/1996). 
The TelG provides simple procedures to remove remainin g monopoly rights, so enabli ng potential providers to 
offer services freely to the international markets. No ci tizenship, residence or incorporation requirements limit 
this opportunity. The Law’s lice nsing regime distinguishes betwee n service and equipment licenses. 
Preference is given to general licences in both cases, so allowing an automatic entitlement and a minimum of 
bureaucracy, especially for Value-Added Services. The installation and operation of networks requires an 
individual licence but unbure aucratic procedures also apply in this  regard. While the law already provides 
a liberal and administratively convenient environment for telecommunications it is perfectly designed to set in 
place sophisticated mechanisms to meet the needs of enterprises operating on a global scale. Swiss Telecom,  
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which is about to remain the principal operator in Liechtenstein, will become subject to the law’s licensing 
requirements. The existing PSTN is one of the world’s leaders technically; ISDN has been fully implemented 
in Liechtenstein. 
 
S/C/N/41 Liechten-
stein 10.12.96 Office for Banking 
Supervision  
 - Act on Investment Undertakings of 3 May 1996 (LGBl. 89/1996); 
- Ordinance to the Act on Investment Undert akings of 2 July 1996 (LGBl. 90/1996). 
The new Act on Investment Undertakings has been introd uced in conformity with European regulations. Due 
to the new act investment undertakings are funds which are raised by the public following public advertising for the purpose of a collective capital investement and which are ususally invested and managed for the collective account of the unit-holders according to the principle of risk-spreading. The new act regulates investement undertakings for transferable securities, for real estate and for other a ssets as precious metals, 
commodities or derivatives. Before taking up their business activities investment undertakings must obtain a licence from the Government. The licence is granted if a few conditions concerning organization, depositary bank, legal form of fund management, guarantee of satisfactory business conduct and net assets are met.  
S/C/N/40 Liechten-
stein 10.12.96 Liechtenstein 
Insurance 
Supervisory 
Authority, Office of 
National Economy. 
 Law on Insurance Supervision (VersAG) of 6 December 1996 (LGBl. 23/1996). 
The new Law on Insurance Supervision has been introduc ed in conformity with the relevant EU-insurance 
directives. Due to the new law direct insurance an d reinsurance business will be supervised by the 
Liechtenstein Supervisory Authority. Companies which have  their head offices abroad and which do only carry 
out reinsurance activities in Liechtenstein will not be supervised by the Liechtenstein Supervisory Authority. 
Also captive insurance companies may be exempted fro m the supervision. Insurance companies do need an 
authorisation of the government. The authorisation is granted if several requirements are fulfilled, as e.g. the 
legal form, minimum capital, the solvency margin, the guarantee fund and technical provisions. 
 
S/C/N/348 Macao, 
China 27.07.05 Monetary Authority of 
Macao The Regulations prescribe the terms, and conditions of the Uniform Policy for compulsory Professional Liability 
Insurance for Lawyers in Macao. All lawyers registered  in Macao must insure against their professional 
liability with a limit of indemnity of no less than MOP2 million (equiv. approx. US$250,000).  
S/C/N/347 Macao, 
China 27.07.05 Monetary Authority of 
Macao The Regulations prescribe the terms, and conditions of the Uniform Policy for compulsory Third Party Liability 
Insurance for Pleasure Boats in Macao. The minimum sum insured for each boat shall not be less than 
MOP1 million (equiv. approx. US$125,000). 
 
S/C/N/137 Mada-
gascar 06.10.00 Ministry of Finance; 
Central Bank of Madagascar (i) Mode of supply covered by th e measure: commercial presence 
(ii) Effects on trade in services 
The Decree of 24 January 1995 authorizes all persons, natural or legal, to open a foreign currency account in the local banks, and all exporters to rece ive in their foreign currenc y accounts part of their 
export revenue, the balance of whic h must be surrendered to the inte r-bank foreign exchange market 
within the time-periods established in an order of the Ministry of Finance. 
The same Decree also authorizes all foreign currency account-holders to engage freely in exchange transactions, settlements, transfers or arbitrage and to make withdrawals in the form of bank cheques 
or traveller's cheques. The Order of 30 December 1996 abolishes the obligation to surrender the balance of export revenue to the inter-bank foreign exchange market while maintain ing the obligation to repatriate foreign currency.  
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This increased flexibility, which follows on Mada gascar's accession to IM F Article VIII, aims to 
encourage economic operators and to reinforc e the other economic liberalization measures. 
 
S/C/N/136 Mada-
gascar 06.10.00 Ministry of Finance; 
Commission on 
Banking and Financial 
Supervision (i) Mode of supply covered by th e measure: commercial presence 
(ii) Effects on trade in services 
The first Order establishes the conditions for the opening of exchange bureaux in the territory of 
Madagascar, stipulates that the activity of such  exchange bureaux shall be contingent upon the 
obtention of a licence delivered by the Ministry of Finance, and appoints the Central Bank to examine 
each case. 
The second Order also lays down the conditions for opening exchange bureaux, but appoints the 
Commission on Banking and Financ ial Supervision to examine each case and to issue licences. 
This decision reinforces the other exchange liberalization measures. 
 
S/C/N/135 Mada-
gascar 06.10.00 Ministry of Finance (i) Mode of supply covered by the measure: commercial presence 
(ii) Effects on trade in services  The above order delegates to approved intermediari es the authority to carry out transfers abroad of 
dividends and profits, salaries an d wages, income from movable or immovable property, licence fees, 
royalties and other fees, including technical assistance fees, on behalf of non-residents and foreign residents. These current account transfer operations  require a simple transfer declaration with these 
approved intermediaries. 
 This measure comes within the framework of the re activation of the economy and the liberalization of 
foreign exchange. 
 
S/C/N/134 Mada-
gascar 06.10.00 Ministry of Finance; 
Central Bank of 
Madagascar (i) Mode of supply covered by th e measure: commercial presence 
(ii) Effects on trade in services 
 The above Order authorizes the dire ct purchase and sale of foreign exchange between an operator and 
a local bank or exchange bureau at an exchange  rate freely negotiated between them, and further 
stipulates that except in the case of the exchange  rate applicable to customs clearance transactions, 
each bank shall set its manual exchange rates, of which the public must at all times be informed. 
 This measure comes within the frame work of exchange liberalization. 
 
S/C/N/133 Mada-
gascar 06.10.00 Ministry of Finance; 
Central Bank of Madagascar; Commission on Banking and Financial Supervision (i) Mode of supply covered by th e measure: commercial presence 
(ii) Effects on trade in services  This Decree sets the minimum amount of registered  capital required for each category of credit 
institution with its legal domicile in Madagascar on the day of its establishment. 
 This measure was taken to establish the creditworthiness and ensure the full commitment of promoters 
as a guarantee of the seriousness and success of the pr oject, and to protect thir d parties, in particular 
the depositors. 
 
S/C/N/132 Mada-
gascar 06.10.00 Ministry of Finance; 
Central Bank of 
Madagascar; 
Commission on 
Banking and Financial (i) Mode of supply covered by th e measure: commercial presence 
(ii) Effects on trade in services 
 The provisions of this Law define its scope of application and the activities of credit institutions, 
specifying the categories into which they fall, how they are regulated and controlled and the penalties 
applicable in case of violation.  
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Supervision  This Law, enacted within the framework of the economic recovery process, provides a suitable 
regulatory basis for the openin g up of the financial sector. 
 
S/C/N/110 Mada-
gascar 06.10.99 Ministry of Finance; 
Central Bank of Madagascar; Commission on Banking and Financial Supervision (i) Mode of supply covered by th e measure: commercial presence 
(ii) Effects on trade in services 
The provisions of this Law define its scope of application and the activities of credit institutions, specifying the categories into which they fall, how they are regulated and controlled and the penalties 
applicable in case of violation. This Law, enacted within the framework of the economic recovery process, provides a suitable regulatory basis for the openin g up of the financial sector. 
 
S/C/N/609 Morocco 21.11.11 Ministry of Health Measure: 
Framework law establishing the fundamental principles an d objectives of the State's actions in the field of 
health and the organization of the health system. 
Description: 
The law lays down the responsibility of the State in achieving the objectives and principles of the health 
system, determines the composition of healthcare services, and defines the organization and management of 
healthcare facilities  and their role in the health sphere. 
The law also establishes a health map and regional schemes for the supply of healthcare services, as well as 
bodies to ensure coherence of action and improve th e governance of the health system, and enable the 
various partners to take an active part in the provision of healthcare services. 
 
S/C/N/608 Morocco 21.11.11 Ministry of National 
Education, Higher Education, Staff Training and Scientific 
Research - Decree No. 2.09.717 of 17 March 2010 implementing Articles 51 and 52 of Law No. 01-00 on the 
organization of higher education. Official Journal No. 5830 of 15 April 2010, page 1261. 
- Order of the Minister of National Education, Higher Education, Staff Training and Scientific Research 
No. 2054-10 of 16 July 2010 governing the specifications for the accreditation of courses of study in 
private higher education establishments. Official Journal No. 5888 of 4 November 2010, page 1984. 
 
S/C/N/650 Nepal 17.09.12 Beema Samiti 
(Insurance Board) 
http://bsib.org.np/ 
index.php  
 "Insurance Regulation, 1993"  has been brought into force in exerci se of the power conferred by section 
47 of the Insurance Act, 1992. This Regulation has ca tegorized insurance business, clarified registration 
process and included other provisions rela ted to Agents, Surveyors, Brokers, etc. 
 
S/C/N/649 Nepal 17.09.12 Beema Samiti 
(Insurance Board) http://bsib.org.np/ 
index.php  
 "Insurance Act, 1992"  has established "Insurance Board" to syst ematize, regularize, develop and regulate 
the insurance business in Nepal. This Act  also has set out the registration and other regulatory  provisions for 
Insurer.  
S/C/N/648 Nepal 17.09.12 Nepal Rastra Bank 
(Central Bank of 
Nepal) 
http://www.nrb. 
org.np/  In line with the commitments made by Nepal under the financial service sector of the General Agreement on 
Trade in Services (GATS), "Policy Provision for Opening Branch Of fices by Foreign Bank or Financial 
Institutions in Nepal, 2010"  has been brought into force pursuant to Section 34 of the Banks and 
Financial Institutions Act, 2006  for branch office to be opened in Nepal by foreign banks and financial 
institutions willing to carry out wholesal e banking transactions from 1 January 2010. 
  
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S/C/N/647 Nepal 17.09.12 Nepal Rastra Bank 
(Central Bank of Nepal) 
http://www.nrb. 
org.np/  "Banks and Financial Institutions Act, 2006 " has been promulgated as a co nsolidate legislation relating 
to banks and financial institutions with the objectives  to make healthy competition among banks and financial 
institutions, minimize risks relating to the banking and financial sector, boost and consolidate the economy of 
the State of Nepal by liberalizing the banking and financial sectors and make necessary legal provisions 
relating to the establishment, operation, management  and regulation of banks and financial institutions. 
Article 34  of this Act has given right to Nepal Rastra Bank to is sue licence and regulate to foreign bank or 
financial institution to establish its office and carry on the financial transactions in the State in Nepal.  
S/C/N/521 New 
Zealand 16.10.09 Department of 
Building and Housing 
 Chartered Professional Engineers of New Zealand Act 2002 (Public Act 2002, No. 17) 
The Chartered Professional Engineers of New Zealand Ac t 2002 repeals the Engineer s Registration Act 1924. 
The Act establishes the title of Chartered Professional Engineer as a mark of quality. It establishes the 
Chartered Professional Engineers Coun cil, whose role is to set standards of competence to ensure safe 
practise and to receive complaints and undertake disciplinary proceedings. The Act also establishes 
a registration system with the Registration Authority (IPENZ, the Institution of Professional Engineers 
New Zealand) ensuring that candidates me et the Council’s standard of competence. 
 
S/C/N/520 New 
Zealand 16.10.09 The Treasury Institute of Chartered Accountants Act 1996 (Public Act 1996, No. 39) 
This Act repeals the New Zealand Society of Accountants Act 1958. It establishes the Institute of Chartered Accountants of New Zealand (ICANZ) as New Zealan d’s professional accountancy body. Under the Act 
membership of ICANZ and the terms “chartered” or “r egistered” accountant are protected. Membership of 
ICANZ is not limited to New Zealand residents.  
S/C/N/519 New 
Zealand 16.10.09 Ministry of Economic 
Development Postal Services Act 1998 (Public Act 1998 No 2). 
The Postal Services Act 1998 repeals the Postal Services Act 1987. 
This Act sets out the primary domestic regulatory requirements applicable to registered postal operators in 
New Zealand. The Act removes New Zealand Post Limited’ s statutory monopoly on the carriage of letters, and 
provides for any person to apply to the Ministry of Economic Development to be come a registered postal 
operator. Under the Act, registration as  postal operator is compulsory  for letters with postage less than 
NZ$0.80. 
 
S/C/N/518 New 
Zealand 16.10.09 Ministry of Economic 
Development Telecommunications Amendment Act (No. 2) 2006 (Public Act 2006, No. 83) 
The Telecommunications Amendment Act (No. 2) 2006 amends the Telecommunications Act 2001, which has the stated purpose of regulating the su pply of telecommunications services. 
The 2006 Act introduces new regulatory provisions and enha nces several aspects of the regulatory process. It 
introduces a comprehensive regime  for the enforcement of regulatory and statutory processes and 
obligations, provides further regulated services including local loop unbundling, and promotes competition in the supply of key telecommunications services through an information disclosure and operational separation regime.  
S/C/N/507 New 
Zealand 03.08.09 Department of 
Building and Housing Measures: 
Building Act 2004 (Public Act 2004 No 72) 
The Building Act 2004 establishes a licensing regime for building practitioners. 
Under the Act, all building and design work defined as  “restricted building work”,  must be undertaken or  
  
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supervised by a licensed building practitioner. Restricted building work  has not yet been defined. Once 
defined, the definition cannot come into force before 30 November 2010. 
 
S/C/N/506 New 
Zealand 03.08.09 Department of 
Building and Housing Measures: 
Registered Architects Act 2005 (Public Act 2005 No 38) 
The Registered Architects Act 2005 replaces the Architects Act 1963. The Act reforms the law relating to the registration of registered architects and protects the title of registered 
architect. It introduces ongoing competency testing for architects and establis hes modernized governance 
and administration arrangements. While registration is not a pre-requisite for the prov ision of architecture services in New Zealand, the 
Registered Architects Act 2005 restricts the use of the title “architect” to candidates accepted onto a register maintained by the New Zealand Registered Architects Board. Candidates must meet the minimum standards 
for registration, and there is no re sidence or nationality requirement. 
 
S/C/N/505 New 
Zealand 03.08.09 Ministry of Justice Measures: 
Lawyers and Conveyancers Act 2006 (Public Act 2006 No 1). 
The Lawyers and Conveyancers Act 2006 repeals the Law Practitioners Act 1982. 
The Act recognizes the status of the legal profession  and establishes the new profession of conveyancing 
practitioner. It states the obligations that all lawyers and conveyancers must comply with in providing 
regulated services, and establishes an enhanced three-tier complaints and discipline process. 
The Act provides for recognition of foreign legal qualifications. 
 
S/C/N/504 New 
Zealand 03.08.09 Ministry of Transport Measures: 
Railways Act 2005 (Public Act 2005 No 37). 
The Railways Act 2005 aims to improve the safety regime of all rail operators. It requires that key rail 
participants obtain a Rail Service License. The Act also ensures that key safety data are collected, that 
operators demonstrate they are managi ng safety risks, and provides the New Zealand Transport Agency with 
increased powers to audit, in spect and sanction operators. 
 
S/C/N/503 New 
Zealand 03.08.09 The Overseas 
Investment Office, 
Land Information 
New Zealand Measures: 
Overseas Investment Act 2005 (Public Act 2005 No 82) 
The Overseas Investment Act 2005 (the Act) and the Overseas Investment Regulations 2005 replace the 
Overseas Investment Act 1973 and the Overseas Investment Regulations 1995. The Act is currently under 
review. The Act applies to overseas investments in: 
- sensitive land; and 
- significant business assets. 
The Act incorporates sections 56 to 58B of the Fisher ies Act 1996 (the Fisheries Act provisions), which apply 
to overseas investments in fishing quota. 
The Act and the Fisheries Act provisions require consent to be obtained for a transaction before the overseas 
investment is given effect. The Act increased the screening threshold for significant business asset 
investments to NZ$100 million (from $50 million), remove d the consent requirement for purchases of urban 
land valued in excess of NZ$10 million and provided fo r greater flexibility in the monitoring and enforcement 
of the regime.  
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S/C/N/562 Nicaragua 06.09.10 For both laws: 
Directorate-General of 
Migration and Foreign 
Nationals 
For the Law on 
migration incentives: 
Ministry of Finance 
and Public Credit The first law seeks to regulate, control and sanction persons involved in the smuggling of migrants to national 
territory. The main aim of the second law is to promote the repa triation of Nicaraguan citizens residing abroad by 
granting them a series of benefits expressly established therein and, in particular, exempting them from the 
payment of import duties and other taxes on the impo rtation of household goods and a new or used motor 
vehicle, in accordance with the requirements and procedures established by this law. These benefits are granted on a one-off basis to any fa mily nucleus made up of Nicaraguans who have resided abroad and wish 
to return to the country, provided that they have lived abroad for at least the five years preceding the entry into force of this law. These benefits are also granted to families of which at  least one head of household is a Nicaraguan national, 
who wish to return to the country and who meet a ll of the requirements laid down in this law. 
 
S/C/N/561 Nicaragua 06.09.10 Nicaraguan Tourism 
Institute, Managua, 
Nicaragua The aim of the first law is to create the Nicaraguan Tourism Institute, an autonomous State body referred to 
in the text simply as "INTUR". INTUR has its own legal status and assets, is of indefinite duration, has full 
capacity to exercise rights and contract obligations and is the uninterrupted legal su ccessor of the Ministry of 
Tourism, created pursuant to Agreement No. 1-93 of 9 January 1993, and of the Nicaraguan Tourism 
Institute, created pursuant to Decree No. 161 of 14 November 1979. 
The second law seeks to promote investment in tourism activities. INTUR will grant tax incentives and 
benefits to enterprises which provide hotel industry services and invest in the construction, remodelling, 
extension, equipping, refurbishment and development of hotels, motels and other si milar facilities, such as 
condo-hotels, apartment-hotels, etc. 
The main aim of the third law is to regulate the tourism industry through the establishment of standards to 
guarantee its activities, ensure the participation of th e public and private sectors and reaffirm, pursuant to 
this Law, the position of the Nicaraguan Tourism Inst itute, INTUR (created under Law No. 298, published in 
Official Journal No. 149 of 11 August 1998) as the industry's highest authority and governing body. 
 
S/C/N/108 Niger 06.10.99 Ministry of Tourism 
and Handicrafts  Order No. 001MTA/DTPT of 10 July 1998 amending Order No. 076/MCI/T/DTH of 22 October 1987 Regulating 
the Profession of Tourist Guide in Niger. This Order defines the conditions to be fulfilled in order to practice the profession of tourist guide, the different types of approval required and the content of the applications. 
 
S/C/N/107 Niger 06.10.99 Ministry of Tourism 
and Handicrafts Decree No. 99-057/PCRN/MT/A of 1 May 1999 amending Decree No. 78-54/PCMS/MAE/CI of 29 June 1978 on 
the Organization of Travel Agencies and Offices. 
These amendments concern, inter alia , the categorization of enterprises o ffering services to travellers and 
tourists, their activities and the conditions governing their approval. 
 
S/C/N/69 Nigeria 16.03.98  The Government of the Federal Republic of Nigeria wishes to notify the Council for Trade in Services  that in 
accordance with Article III of the GATS, there is no significant alteration in the rules governing scheduled 
sectors.  
S/C/N/652 Norway 26.09.12 Norwegian 
Directorate of 
Immigration The new Immigration Act and Immigration Regulations include updated specifications on requirements for 
residence permits for skilled and unskilled workers, as well as new specifications on length of stay under such 
permits. 
  
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S/C/N/651 Norway 26.09.12 Ministry of Finance The overarching obje ctive of the 37 changes to the regulatory framework for the N orwegian Financial Market 
in 2011 was to promote financial stability and efficient and well-functioning markets. The regulatory developments in Norway largely reflect the work being done on new rules in the EU, including 
on how best to implement the Base l III standards (the CRD IV rules), and how macroprudential supervision 
of the finance sector should be organised in Norway. The various amendments affect the following sub-sectors: banking, insurance, pension funds, finance and credit, securities, and real estate services, as well as accounting and auditing services.  
S/C/N/64 Norway 23.06.97 The Royal Ministry of 
Finance and Customs 
 Financial institutions 
Reference is made to Norway's Schedule of Specific Commitments annexed to the Second Protocol to the 
GATS, Sector 7 B, limitations on  market access column, mode 3. 
Act of 28 June 1996 on establishment in Norway of fi nancial services suppliers situated outside the EEA 
allows for establishment in Norway of branches of ba nks, financing undertakings, securities brokerage firms 
and management companies for collective investment fund s. Such establishment requires permission by the 
Norwegian Banking Insurance and Securities Commission. To obtain such permission the financial services 
supplier must have permission to provide equivalent services in its home state and be subject to prudential 
supervision there. 
 
S/C/N/63 Norway 23.06.97 The Royal Ministry of 
Finance and Customs Insurance broker activity 
Reference is made to Norway's Schedule of Specific Commitments annexed to the Second Protocol to the 
GATS, Sector 7 A, limitations on  market access column, mode 3. 
Regulation of 24 November 1995 on insurance broker acti vity allows foreign insurance broker undertakings to 
pursue business in Norway through a branch. Such es tablishment requires perm ission by the Norwegian 
Banking Insurance and Securities Commission. Requirements  include lodging of a guarantee with the 
Norwegian Banking Insurance and Securities Commission executed by a finance institution situated in a state within the European Economic Area , and documentation of prudent management and sufficient staff at the 
branch. 
 
S/C/N/10 Norway 31.01.96 The Ministry of 
Transport and 
Communications 
 New telecommunications act replacing three older acts with respect to telecommunications (Telegrafloven av 
1899, telegrafanleggsloven av 1903 og tilleggsloven av 1914). 
The act covers all telecommunications activities. It introduces licensing of telecommunications networks and 
use of networks and registration of service provider s. There are measures with respect to approval and 
licensing of equipment, regulation s on standards, marketing and tec hnical requirements, inspection and 
control, open access to networks and serv ices, provision of information and fees. 
The act is a codification of the present regulatory situ ation and provides basis for secondary legislation. The 
act does not change the borderline between monopoly and competition. 
The purpose of the act is not to affect trade in services, but the act/decisions authorised by the act may have 
impact on trade and the Norwegian specific commitments on telecommunications services. Cross-border 
supply and commercial presence are the mode s of supply most likely to be affected. 
 
S/C/N/511 Paraguay  25.08.09 Central Bank of 
Paraguay Law No. 489 of 1995, the Organic Law of the Central Bank of Paraguay (*Law 1); Law No. 861 of 1996, the 
General Law on Banks, Financial Institutions and other Credit Agencies (*Law 2).  
   
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* Acceptance of deposits and other repayable funds from the public  
Market access: (1) and (2) Articles 1 and 5 of Law No. 861/96. Article 51 of Law No. 489/95, Articles 48 and 56 of Law 
No. 489/95. 
(3) Articles 5 and 10 of Law No. 861/96. Articles 40 and 73 of the Law establish the types of deposit. (4) Articles 1 and 10 of Law No. 861/96. National treatment: (1) and (2) Articles 1 and 5 of Law No. 861/96. Article 51 of Law No. 489/95, Articles 48 and 56 of Law 
No. 489/95. 
(3) Article 7 of Law No. 861/96. (4) Articles 1 and 10 of Law No. 861/96. * Lending of all types, including consumer credit , mortgage credit, factoring and financing of 
commercial transaction  
Market access: (1) and (2) Articles 1 and 5 of Law No. 861/96. Article 51 of Law No. 489/95, Articles 48 and 56 of Law 
No. 489/95. Articles 1292 to 1297, 2294 to 2335 and 2356 to 2400 of the Civil Code, which regulate loans, pledge loans and mortga ges respectively, govern Articles 48 and 56 of Law No. 489/95. 
(3) Articles 5 and 10 of Law No. 861/96. Lending operations are  regulated by Articles 40 and 73 of  the 
Law, which establish th e types of deposit. 
(4) Articles 1 and 10 of Law No. 861/96. National treatment: (1) and (2) Article 1 of Law No. 861/96. Article 51 of Law No. 489/95, Articles 48 and 56 of Law 
No. 489/95. Articles 1292 to 1297, 2294 to 2335 and 2356 to 2400 of the Civil Code, which regulate loans, loans, pledge loans and mo rtgages respectively, govern Articl es 48 and 56 of Law No. 489/95. 
(3) Article 7 of Law No. 861/96. (4) Articles 1 and 10 of Law No. 861/96. 
 
S/C/N/510 Paraguay  26.08.09 Central Bank of 
Paraguay Insurance Law No. 827 
* Insurance (excluding reinsurance and retrocession), CPC 812 
Market access: 
(1) Only duly authorized enterprises may engage in the insurance  business in the Republic of Paraguay. 
Article 125 of Insurance Law No. 827/96. 
(3) Enterprises are required to be co nstituted as a limited liability comp any (S.A.) or a foreign branch and 
to obtain prior authorization from the Insurance Supervisory Authority (Article 3 of Insurance Law 
No. 827/96). 
National treatment:  
(1) There is a residency requirement (Article 125 of Insurance Law No. 827/96. N.B. this restriction 
remains unchanged in relation to th e previous legal regime of 1947) 
(3) Articles 8 and 17 of Insurance Law No. 827/96. 
* Reinsurance and retrocession 
Market access: 
(1) There is a registration requir ement. Only residents or registered companies are allowed access to 
reinsurance services (Article  95 of the Insurance Law). 
  
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(3) Enterprises are required to be co nstituted as a limited liability comp any (S.A.) or a foreign branch and 
to obtain prior authorization from the Insurance Supervisory Authority (Article 3 of Insurance Law 
No. 827/96, in accordance with Article 2). 
(4) Natural persons are not permitted to provide these services (Article 3 of the Insurance Law, in 
accordance with Article 2). 
National treatment:  
(3) Article 8 (in accordance with Articles 2 and 3) and Article 92 of Insurance Law No. 827/96. 
 
S/C/N/611 Peru 28.11.11 Ministry of the 
Economy and Finance (MEF); Ministry of Foreign Trade and Tourism (MINCETUR); National Tax Administration Supervisory Authority (SUNAT) Law No. 29646, Law on the Promotion of Foreign Trade in Services 
The purpose of this law is to establish a regulatory fra mework for the promotion of foreign trade in services, 
under which the export of services shall be exempted from general sales tax (IGV). It establishes a "balance in favour of the exporter" system (whereby an expo rter may recover the IGV paid on previous purchases 
destined for the export of a good or  service) for all the modes of export  mentioned in Article 12 of the Law 
amending Appendix V of the Law on IGV. To this end, the law defines the export of services as  the provision of a service in any sector through the 
following modes of supply: (i) Cross-border trade: the supply of the service is no t taxed and the tax credit is returned as balance in 
favour of the exporter. 
(ii) Consumption abroad (Type 1): the foreign cons umer comes to Peru and acquires the service in 
Peruvian territory. In this case, the supply of the serv ice is not taxed and the tax credit is returned as 
balance in favour of the exporter. 
(iii) Consumption abroad (Type 2): the foreign consumer - natural persons only - comes to Peru and 
acquires the service in Peruvian territory. In this case, the supply of the service is taxed, and the IGV is returned when the non-domiciled person leaves the country. 
(iv) Presence of natural persons: the movement of  persons from Peru to another country to provide 
a service. While services supplied under this mode are not taxed (due to the extraterritorial nature of 
the operation), the tax credit accumulated for previous acquisitions of goods and services may be 
refunded. 
The law also modifies Article 33 of the Single Harmonized Text (TUO) of the Law on IGV by establishing that the condition that "the use, exploitation and consumptio n of the services by non-domiciled persons shall take 
place entirely abroad" will remain in effect only for cr oss-border trade and will be eliminated for other forms 
of trade. The law eliminates the scenarios of non-application an d exemption provided for in the TUO of the Law on 
IGV, which are considered, under the law, as services exports so as not to generate additional tax costs 
(non-useable tax credit) when the service is provided to a consumer domiciled in Peru. 
The Appendix to the law contains a list of operatio ns that are considered as the export of services. 
This measure affects Peru's commitments in the following sectors: (i) Sector 1A (Professional services),  with regard to modes 1, 2 and 4. 
(ii) Sector 2C (Telecommunication serv ices), with regard to modes 1 and 3. 
(iii) Sector 1F(a) (Advertising services), with regard to mode 1. (iv) Sector 7B (Financial services ), with regard to modes 1 and 2. 
(v) Sector 7A (All insurance and insurance-related services),  with regard to mode 1. 
(vi) Sector 9 (Tourism and travel-related services), with regard  to modes 1 and 3. 
(vii) Sector 10A (Entertainment serv ices), with regard to mode 3.  
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S/C/N/550 Peru 26.04.10 The Ministry of 
Transport and 
Communications and 
the Supervisory Body 
for Private 
Investment in 
Telecommunications 
(OSIPTEL) Supreme Decree No. 002-2009-MTC of the Ministry of Transport and Communications. 
The notified legislation amends the Single Harmonized Text of the General Regulations for the 
Telecommunications Law, approved by Supreme Decree No. 020-2007-MTC of the Ministry of Transport and 
Communications, and establishes that concessionaires are entitled to offer telecommunications traffic and/or 
public telecommunications services to other services suppliers for resale. This pr ovision does not apply to 
major suppliers of public telecommunications services, which are required to resell telecommunications traffic 
and/or their public  telecommunications services to ot her suppliers at reasonable rates. 
Marketing or resale is understood to mean the purchase by a natural or legal person of telecommunications 
traffic and/or services on a wholesale basis with a view  to their resale to third parties at retail prices. 
This measure affects Peru's commitme nts under Sector 2.C (telecommunication services), mode 3, in respect 
of additional commitments regarding the promotion of competition and the preventi on of anti-competitive 
practices in telecommunications. 
 
S/C/N/549 Peru 26.04.10 Supervisory Authority 
for Banking, Insurance and Private Pension Fund Administrators (SBS) Legislative Decree No. 1052 amending the General Law on  the Financial System and the Insurance System 
and the Organic Law on the SPS (Law No. 26702). This Decree contains the following provisions: 
 It stipulates that where the Banking and Insurance Supervisory Authority rejects an application to set 
up an enterprise, to the extent possible and at the request of the applicant, it shall provide the reasons 
for its rejection. This represents a change with respect to the previous regulation set forth in Law No. 
26702, which stipulated that the decision authorizing or  refusing authorization to set up an enterprise 
did not need to be justified, nor could it be challenged administratively or judicially. This measure affects Peru's mode 3 commitments in Sectors 7A (A ll insurance and insurance- related services) and 7B 
(Banking and other financial services). 
 It clarifies the activities that can be carried out by representatives of enterprises offering banking 
services from abroad, which are limited to the following:  
(i) Promotion of the services of their principal among similar companies operating in the country 
 with a view to facilitating foreign trade and providing external financing; 
(ii) promotion of their principle's different fi nancing options among natural and legal persons 
interested in buying and selling good s and services in foreign markets; 
(iii) promotion of the services of their principal among persons potentially requiring foreign loans or 
capital. 
 It also sets up a framework for the establishment of representatives of reinsurance companies and 
reinsurance intermediaries from abroad. This measur e affects Peru's mode 3 commitments in Sectors 
7A (All insurance and insurance-related services) and 7B (Banking and other financial services). 
 It enables companies in the insurance system and/or  suppliers of insurance-related services domiciled 
within the territory of a country with which Peru has concluded an international agreement providing for the supply of such services to provide the fo llowing insurance and insu rance-related services: 
(a) Insurance of risk relating to:  (i) Maritime shipping, commercial aviation and space launching and freight (including satellites), with 
such insurance to cover any or all of the follo wing: the goods being transported, the vehicle 
transporting the goods and any liability arising therefrom; and 
 (ii) goods in international transit; (b) reinsurance and retrocession; (c) consultancy, actuarial, risk assessment and claims settlement services; and  
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(d) intermediation of risk insurance relating to the elements listed in subparagraphs (a) and (b). 
Without prejudice to other prudential regulation meas ures for cross-border trade in the above-mentioned 
services, the Banking and Insurance Supervisory Authority may require th e registration of cross-border 
companies or suppliers and of financial instruments. 
This measure affects Peru's mode 1 and mode 4 commitments in Sectors 7A (All insurance and insurance-related services ) and 7B (Banking and ot her financial services). 
 
S/C/N/548 Peru 26.04.10 Supervisory Authority 
for Banking, 
Insurance and Private 
Pension Fund 
Administrators (SBS) Legislative Decree No. 1028 amending the General Law on  the Financial System and the Insurance System 
and the Organic Law on the Supervisory Authorit y for Banking and Insurance (Law No. 26702). 
The purpose of the notified Decree is to amend the regu latory framework for the financial sector and bring it 
into line with the new international standards on regulation and supervision (Basel II) in order to enhance the 
competitiveness of enterprises and allo w non-bank microfinance institutions to have access to new operations 
with a view to strengthening their posi tion and competing with new operators. 
To that end, Legislative Decree No. 1028 provides that: 
 The net assets of the enterprises shall be at least 10 per cent of the total risk-weighted assets and 
contingency funds, equivalent to the sum of: the requirement of net assets weighted according to 
market risk multiplied by 10, the requirement of net assets weighted according to operational risk 
multiplied by 10, and the assets  and contingency funds weighted according to credit risk.* The 
calculation shall include any exposure or assets in national or foreign currency, including their branches 
abroad. 
 In operations carried out pursuant to Article 221, en terprises engaged in multiple operations shall be 
subject to the following overall limits, according to their net assets: 
 For operations involving derivatives: 10 per cent. 
 For shareholdings, as well as for certificates of participation in mutual funds and certificates of 
participation in investme nt funds: 40 per cent. 
 The Supervisory Authority for Banking and Insu rance shall, to the extent practicable: 
(a) publish in advance any regulations of general application relating to the subject matter of this 
Law, as well as the purpose of such regulations; 
(b) provide interested persons a reasonable opport unity to comment on such  proposed regulations; 
(c) at the time it adopts final regulations, cons ider substantive comments received from interested 
persons with respect to the proposed regulations; and 
(d) allow reasonable time between publication of  final regulations and their entry into force; 
Furthermore, the notified Decree extends the operations that may be carried out by microfinance enterprises. 
The measure described affects Peru's mode 3 commitments in Sectors 7A (All insurance and 
insurance-related services ) and 7B (Banking and ot her financial services). 
 
* The Decree includes a timetable for the adaptations to comply with the overall limit required. 
 
S/C/N/547 Peru 26.04.10 Supervisory Body for 
Private Investment in Telecommunications (OSIPTEL) Legislative Decree No. 1021 empowering the Supervisory Bo dy for Private Investment in Telecommunications 
(OSIPTEL) to establish regulatory obligations relating to unbundled access to network elements. The Decree provides that, in exercise of the regulatory  powers vested in it under Article 3 of Framework Law 
No. 27332 on Regulatory Bodies for Private Investment in Public Services, OSIPTEL is empowered to issue 
regulations and/or provisions establ ishing the mandatory nature, conditio ns and scope of access to network 
elements on an unbundled basis or on any other ba sis, on terms and conditions that are reasonable,  
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non-discriminatory, transparent and at cost-oriented rates. 
When it considers it to be in the interests of developing the sector, OSIPTEL shall determine the network elements which are to be available to publ ic telecommunications service operators. 
This measure affects Peru's commitments under Sector 2.C (Telecommunication services), in mode 3, in 
respect of additional commitment s regarding the promotion of competition and the prevention of 
anti-competitive practices in telecommunications.  
S/C/N/546 Peru 26.04.10 Supervisory Body for 
Private Investment in 
Telecommunications 
(OSIPTEL) Legislative Decree No. 1019 approving the Law on access to the infrastructure of major suppliers of public 
telecommunications services. 
The notified legislation seeks to regulate access to and shared use of the telecommunications infrastructure 
required for the provision of public telecommunicatio ns services by offering other options to public 
telecommunications service concessionaires in order to  guarantee reasonable and non-discriminatory access 
to the telecommunications infrastructure of major suppliers. 
The Decree provides that the requirements laid down by a major public telecomm unications service supplier 
for access to and shared use of telecommunications infrastructure may not be less advantageous than those 
applicable to its own subsidiaries or third parties in equal or equivalent conditions. 
This measure affects Peru's commitme nts under Sector 2.C (telecommunication services), mode 3, in respect 
of additional commitments regarding the promotion of competition and the preventi on of anti-competitive 
practices in telecommunications. 
 
S/C/N/71 Peru 23.04.98 Office of the 
Supervisor of Banks and Insurance  
 Law No. 26702 comprises the general law governing the fi nancial and insurance systems, and the organic law 
of the Office of the Supervisor of Banks and Insuranc e. It establishes the framework for the regulation and 
supervision of enterprises operating in the financial and insurance systems as well as those engaged in activities that are linked or complementary to the bu siness purposes of such enterprises. Except where 
expressly indicated otherwise, this law does not concern the Central Bank.  
S/C/N/19 Peru 01.07.96  By a corrigendum published in the Official Journal El Peruano  of 3 November 1993, the number assigned to 
Legislative Decree No. 769 - the legislation cited in the fina ncial services sector included in Peru's Schedule of 
Specific Commitments annexed to the General Agreement on  Trade in Services -has been corrected to No. 770. 
This correction does not affect the content of the commitments made by Peru on financial services. 
 
S/C/N/11 Peru 07.02.96  The Permanent Mission of Peru to the United Nations Office and Other International Organizations at Gen eva 
presents its compliments to the Secretariat of the Worl d Trade Organization (WTO) and to the Council for Trade 
in Services, and has the honour to refer to Article III:3 of the General Agreement on Trade in Services (GATS). In conformity with the requirement set forth in that paragraph whereby each Member should inform the Council for Trade in Services of the introduction of any new laws  or changes to domestic legislation which might in any 
way affect its commitments under the GATS, the Permanen t Mission of Peru herewith notifies the following 
provisions, which place no restrictions on national treatment or market access: - Supreme Decree 12-94-ITINCI, published in the Official Journal El Peruano  on 22 June 1994, approving 
the Regulation on Short-Stay Accommodation; and 
- Ministerial Order 041-95-ITINCI/DM published in the Official Journal El Peruano  on 24 March 1995 
approving the Regulation on Tourism Consultants. 
  
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S/C/N/227 Poland 19.02.03 Patent Office of the 
Republic of Poland Measure: 
(i) mode of supply covered by the measure: commer cial presence and presen ce of natural persons 
(ii) effect on trade in se rvices: liberali zation measure 
(iii) impact of the measure on commitments in the Member's schedule: 
Law on 11 April 2001 on Patent Attorneys determines the principles and conditions of practising the patent 
attorney professions, as we ll as the organisation and the scope of ac tivity of self-administration of patent 
attorneys. 
According to this above mentioned law the patent attorney  profession is deemed to be a profession of public 
credibility. 
The patent attorney has the duty to assist individuals,  legal entities and organisational units, which do not 
enjoy the status of legal entity, in industrial property matters. 
The patent attorney can practise the profession in patent  attorney's offices, on beha lf of her/his employer as 
well under civil law contracts, in accordance with the conditions laid down in this law. 
A patent attorney practising the profession in a patent attorney's office or under civil law contract is subject 
to compulsory civil liability insurance for damage caused in the course of providing services in industrial 
property matters. 
A person, who will practise  as a patent attorney: 
 should enjoy full capacity to enter into legal transactions and civil rights, 
 should be of an unimpeachable character, 
 should guarantee, with her/his past behaviours, the pr oper practising of the patent attorney profession, 
 should hold a university degree at a faculty useful in practising the patent attorney profession, in 
particular at a technical fa culty or a faculty of law, 
 should have completed the patent attorney's training on the conditions laid down in this 
above-mentioned Law and 
 should passed the qualifying examination before the Examination Board. 
In addition, a person, who practises as a patent attorney should be of Polish  nationality, or if she/he is of 
a nationality other than the Polish nationality, she/he should prove his/her command in the Polish language in 
speaking and writing to the extent as necessary for the proper pursing of the patent attorney profession. 
The right to practise the patent attorney profession arises upon at the date to entry into the patent attorneys 
register, which is kept by the Patent Office. 
 
S/C/N/182 Poland 15.11.01 Polish Securities and 
Exchange Commission Measure: 
(i) mode of supply covered by the measure: commercial presence 
(ii) effect on trade in services: libera lizing and non-discriminatory measure 
(iii) impact of the measure on commitments in the Member’s schedule: 
According to the Act of 8 December 2000 amending the Law on the Public Trading of Securities a foreign legal entity conducting brokerage activities in a member  country of the OECD or the WTO may conduct such 
activities in the Republic of Poland through a branch office. 
S/C/N/181 Poland 15.11.01 Ministry of Economy Measure: 
(i) mode of supply covered by th e measure: commercial presence 
(ii) effect on trade in services: libe ralizing and non-discriminatory measure 
(iii) impact of the measure on commitments in the Member’s schedule:  
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Business Activity Law dated on the 19th November 1999 specifies the principles for undertaking and 
conducting business activities within the territory of the Republic of Poland and the tasks of national and local 
government bodies with resp ect to business activities. 
The citizens of foreign countries who hold the right of permanent residence in the Republic of Poland make 
use of the same rights as Polish citizens in terms of undertaking and conducting business activity in the 
Republic of Poland. 
Foreign persons may undertake and conduct business acti vity in the Republic of Poland according to the 
principle of reciprocity insofar as the international agreements ratified by Poland do not stipulate otherwise, 
just like an entrepreneur who maintains his/ her permanent residence or seat in Poland. 
Faced with a lack of reciprocity foreign persons may establish only limited partnerships, limited liability 
companies and joint stock companies in order to undert ake and conduct business activity in the Republic of 
Poland and they may join such companies and purchase interest and shares of stock therein. 
An entrepreneur may undertake business activity after obtaining an entry in the registry of entrepreneurs. 
A separate act specifies the principles for maki ng entries in the registry of entrepreneurs. 
An entrepreneur shall conduct business activity according to the principles of fair competition and while 
respecting good practices and legitimate interests of consumers . 
 
S/C/N/180 Poland 15.11.01 Ministry of 
Infrastructure Office of Telecommunications Regulation Measure: 
(i) mode of supply covered by  the measure: 1, 2, 3, 4 
(ii) effect on trade in services: liberalizing measure  (iii) impact of the measure on commitments in the Member’s schedule: On 1
st January 2001 the act of 21 July 2000 Telecommunications Law came into force which introduced 
changes to the polish sector of communications services. According to the provisions of this act, the operatio n of public telephone netw orks, of public networks 
intended for the broadcasting of radio or televi sion programming shall require a telecommunication 
authorization. The above shall not ap ply to telecommunications activities or the use of radio equipment by: 
- organizational units or divisions supervised by or subordinated to the Minister of Defense and 
organizations supervised by or subordinated to the mi nister competent for internal affairs, for their own 
purposes, 
- organizational divisions subordinated to the minister competent for internal affairs, with regard to the 
networks operated to these divisions for the purposes  of the chancelleries of the President, Parliament, 
Senate and the government administration, 
- foreign military units and organiza tional divisions of foreign government authorities, temporarily 
residing in territory of the Republic of Poland, in pursuance of treaties to which the Republic of Poland is party, during the time of such stay, 
- organizational divisions of the State Pr otection Office for their own purposes, 
- organizational divisions subordinat ed to the minister competent fo r internal affairs for their own 
purposes, 
- diplomatic representations, cons ular offices, special foreign missions and representations of 
international organizations enjoying privileges and immunities derived from acts, treaties and 
international custom, domiciled in the territory of the Republic of Poland - exclusively within the scope related to their diplomatic activities, 
- organizational divisions of the Penite ntiary Service for their own purposes. 
  
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No authorization shall be required for the operation of: 
- public telephone networks, where the entire telecommunications infrastructure and all network 
termination points are located with in the area of a single gmina, 
-  
- fixed public telephone networks us ing numbering resources provided by an authorized operator in 
pursuance of agreement on the provision of numberi ng which may lay down the conditions for the use 
of the numbering provided, 
- public radio and televi sion distribution network installed in a single residential building, designed for the 
broadcasting of radio or television programming. 
The minister competent for posts and telecommunic ations may lay down by ordinance the types of 
telecommunications activities meeting the criteria stipulated in this act, which shall not require authorizations, aiming to limit the scope of telecommunications activities performed under authorizations. Authorized operators shall not refuse the interconne ction of their telecommunications networks with the 
telecommunications networks of othe r operators where the latter had been deployed in accordance with the 
law. Until 31 December 2002 it shall be prohibited to: 
(1) provide international telephony service, (2) provide international services using networks operated by foreign undertakings or companies with 
foreign interest. 
These above shall not apply to the company Telekomunikcja Polska S.A., or to its legal successors or organizations formed in the aftermath of its division or transformation, as appropriate for their respective 
scopes of activity and service areas. These provisions shall not apply to services, which are not international telephony services, provided with the use of radio equipment assuring ra diocommunications with a range extending beyond the borders of the 
Republic of Poland.  
S/C/N/141 Poland 14.02.01 National Bank of 
Poland Measure: 
(i) mode of supply covered by the me asure: (3) commercial presence 
(ii) effect on trade in servic es: liberalization measure 
(iii) the measure has impact on commitments in the financial services: 
The Foreign Exchange Law of 18 December 1998 is based on the following assumptions: 
(a) within the scope of current operations, full freed om is allowed, both as regards the conclusion of 
transactions as regards payments and tran sfers resulting from these transactions; 
(b) within the scope of capital operations, the extent  of freedom complying with the obligations assumed 
by Poland in view of its accession to OECD has been designed, meaning that a substantial portion of 
capital operations is not subject to any restrictions; 
(c) the restrictions maintained with respect to capita l operations are of an interim character and will be 
gradually eliminated; 
(d) a departure from the internal convertibility system and an introduction of equality of Polish currency 
with foreign exchange abroad has been adopted. 
Foreign Exchange  Restrictions: 
Foreign Exchange Law contains a detailed catalogue of foreign exchange transactions, which require a permit. 
Where foreign exchange abroad is concerned, these restrictions in principle pertain only to capital operations. 
Capital trade restrictions are based on the criterion of duration of a transaction (e.g. credit facilities with the  
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term of repayment of one year or less or short term  securities), the criterion of the place of making 
investments or the place of residence of the entity performing a given transaction (non-OECD countries), and 
finally, on the criterion of an especially "liquid" nature of a given transaction (derivative instruments). 
In accordance with the Foreign Exchange Law a foreign exchange permit shall be required: 
1. for residents to make direct in vestments in the countries not members of the Organization for 
Economic Cooperation and Development (OECD) or in the countries with which the Republic of Poland 
has not concluded agreements on the promotion and mutual protecti on of investments, except for 
loans and credits granted to a company by its shareh olders and transfers of means of payment for the 
purpose of maintaining a branch; 
2. for residents to make portfolio investments in the scope of securities issued by non-residents not 
domiciled or not having their seat in the OECD countries or in the countries with which the Republic of 
Poland has not concluded agreements on the promot ion and mutual protection of investments as well 
as units of participation in a collective investment funds not having their seats in the aforesaid 
countries; 
3. to make portfolio investments in short term securities and derivative financial instruments, with the 
exception of derivative financial instruments traded on Warsaw Stock Exchange S.A., Polish Financial 
Stock S.A. and CeTO S.A; 
4. to engage in credit operations resulting in a debt with the maturity less than one year; 
5. for non-residents to engage in deposit operations, if: 
(a) the operations include depositing Polish currency in term deposits with the maturity less than 
three months and in the amount exceeding PLN 500,000, or 
(b) the exchange of Polish currency deposited in the form of term deposits with the maturity exceeding 
three months and in the amount over PLN 500,000 fo r foreign means of payment and the transfer of 
the funds obtained from such exchange wi thin three months from the deposit date; 
6. for residents to engage in deposits operations other than: 
(a) operations related to expenses incurred as part of direct or portfolio invest ments which do not require 
a foreign exchange permit, 
(b) operations with respect to accounts owned by  natural persons during their stay abroad; 
7. to engage in guarantee operations concerning claims  under the restrictions hereof, excluding the claims 
for origination of which the exemption or foreign exchange permit was granted. 
The act contains security measures making it possible to introduce on an interim basis far-reaching special 
foreign exchange restrictions in the event of any risk to  the stability and integrity of the financial system of 
Poland. 
 
S/C/N/140 Poland 14.02.01 Ministry of Posts and 
Telecommunications Measure: 
(i) mode of supply covered by the measure: (3) commercial presence 
(ii) effect on trade in se rvices: liberali zation measure 
(iii) the measure has impact on commitments in the telecommunication services: The regulation of the Minister of Posts and Teleco mmunications of 6 April 1999 amending regulation on 
general conditions of providing telecommunication services in public use telecommunication network obliged inter-zonal operators of public telephone zonal netw ork to assure subscribers a possibility to choose 
inter-zonal operator. It will be done by access to the network of operator providing inter-zonal services. If subscribers do not take this opportunity, operat or of public telephone zonal network directs these 
inter-zonal connections to public telephone inter-zonal network of an operator, with whom he entered into  
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a contract in this scope, but subscribers, before usin g these services, should be informed about prices and 
terms of providing them.  
S/C/N/139 Poland 14.02.01 Ministry of Posts and 
Telecommunications Measure: 
(i) mode of supply covered by the measure: (3) commercial presence 
(ii) effect on trade in se rvices: liberali zation measure 
(iii) the measure has impact on commitments in the telecommunication services: 
The regulation of the Minister of Posts and Telecommunications of 9 September 1999 on general conditions of 
telecommunication networks interconnection and rules of  accounting imposes obligations on operators of the 
public use telecommunication networks, guarantees entitled entities to iden tical conditions of connection to 
the public use telecommunication network on the basis of continuous provision of services and 
non-deterioration of their quality. The method of co nnection of network cannot limit the possibility of 
providing telecommunication services by other operators of interconnnected networks, subject to abilities of 
every network concerned. 
Connection of networks is at entitled entity's written notion. Operator of public use telecommunication 
network having dominant position concludes with ap plicant a cooperation agre ement which subjects in 
particular are: 
(i) settlements concerning position of points of contact of telecommunication networks; 
(ii) technical conditions of connection of telecommunication networks; 
(iii) conditions of using conn ection infrastructure; 
(iv) methods and accounting rates and terms of payment; 
(v) procedure of conduct in case of divergence created during settlements, including divergences resulting 
from measurement of traffic transmitting between networks; 
(vi) rules of responsibility in case of  non-performance of the agreement; 
(vii) procedure of conduct in case of rebuiliding of partie s' telecommunication networks and in case of failure 
thereof or states of emergency; 
(viii)  conditions of termination of contract assuring pr otection of subscribers interests, in particular 
maintaining continuity of provision of public telecommunication services taking into consideration needs 
of defences and security of country. 
Operator of Poland-wide public use network having domi nant position is obliged to assure, on demand of 
every operator of inter-zonal network, functioning of po ints of contact in his network, separately for every 
numbering zone, so that no later than from 1 July 2000 every subscriber of public use telecommunication 
networks has the possibility to use inter-zonal operator 's network when making inter-zonal connections. The 
above-mentioned operators, no later 1 July 2000 are obliged to start points of contact at least in numbering 
zones in which international telephone centrals are located, and no later than 1 July 2000 in numbering zones 
in which long-distance telephone transit centrals are located and which belong to Poland-wide public use 
network operator having dominant position. 
 
S/C/N/138 Poland 14.02.01 Ministry of Posts and 
Telecomnunications Measure: 
(i) mode of supply covered by the measure: (3) commercial presence 
(ii) effect on trade in se rvices: liberali zation measure 
(iii) the measure has impact on commitments in the telecommunication services: 
The regulation of the Minister of Posts and Tele communications of 16 December 1999 on a frequency 
allocation and frequency bands on the territory of the Re public of Poland and conditions of their use specifies  
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allocation of frequency bands for specific Radiocommunica tion services and allows for participation of foreign 
capital in the companies providing such services.  
S/C/N/113 Poland 17.12.99 National Bank of 
Poland; 
Banking Supervisory 
Commission Measure: 
(i) mode of supply covered by the measure: (3) commercial presence; 
(ii) effect on trade in servic es: non-discriminating measure; 
(iii) impact of the measure on commitments in the Member's schedule: 
The Banking Law Act of 29 August 1997 sets forth the principles of banking activity, establishment and 
organisation of banks, foreign bank's  branches and representations, as we ll as the principles for exercising 
banking supervision, the conduct of recovery pr oceedings, liquidation and bankruptcy of banks. 
In the polish-banking sector the banks may operate in the following legal forms: as state banks, co-operative 
banks or banks being joint - stock companies and also as branches and representative offices of foreign 
banks. The latter cannot perform bank ing operations. The branches of foreign banks operating in the territory 
of Poland are treated as domestic banks - the provisions of polish law are applicable to them. It means that 
the foreign persons may conduct banking activity in Poland through their branches or establishment of the 
bank being joint - stock company according to polish law. 
For establishment of the bank as a joint - stock company or a branch of foreign bank a permit of the Banking 
Supervisory Commission is required, which is issued  in agreement with the Finance Minister. When the 
foreign bank is one of the founders of the bank, the opinion of the superv isory authority of the country where 
it has its head office must be enclosed to the applicat ion. This requirement applies also to the establishment 
of the foreign bank branch. 
The bank initial capital shall not be lower than 5,000,000 EURO. 
Authorisation of the Commission is required for the appointment of two members of the management board, 
including the president of the board. The act does no t specify the nationality as the requirement for the 
appointment. 
There is no such requirement in the process of co ntrol of the bank shareholding structure as well. 
The Banking Supervisory Commission has the power of su pervision over the activity of the banks, branches 
and representative offices of the fore ign banks. According to provisions of an international agreement or on 
a reciprocal basis, the supervision of the activities of a branch or a representative office of a foreign bank in 
Poland, and the supervision of the activi ties of a branch or a representative  office of a domestic bank abroad 
may be exercised within the scope settled with  a foreign authority for banking supervision. 
The Mortgage Bond and Bank Act of 29 August 1997 specifies the rules applicable to the issuance, transfer, 
acquiring, answering and collateralisation of mortgage bonds as well as to the establishment, organization, 
activities and supervision of mortgage banks. 
Mortgage banks may be established only in the form  of joint - stock company. The Banking Supervisory 
Commission may issue the detailed rules concerning the mortgage banks' initial capital. To the limits not 
regulated in the above act, the Banking Law Act and National Bank of Poland Act shall apply to the 
establishing, organization and activity of mortgage banks. 
The right to issue mortgage bonds and public mortgage bonds is granted exclusivel y to the mortgage banks. 
 
S/C/N/112 Poland 17.12.99 Ministry of Interior 
and Administration Measure: 
(i) mode of supply covered by the measure: (3) comm ercial presence; (4) presence of natural persons; 
(ii) effect on trade in services: a liberalization measure; (iii) impact of the measure on commitments in the Member's schedule:  
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The Act on acquisition of real estate by foreigners of 24 March 1920, amended by the applicable provisions of 
the Act on Banking Law of 29 August 1997, regulates the case of acquisition of a real estate by foreigners 
without the requirement of getting the permission of the Minister of Interior and Administration. According to 
the aforementioned Act, the permission of the Minister of  Interior and Administration is not required in case 
of the acquisition or entering into possession of shares  by a foreigner in a commercial company with its seat 
within the territory of the Republic of Poland being the owner or perpetual usufructuary  of a real estate if as 
a result of the acquisition or possession of shares, the company will not become a controlled company or 
a company is the owner or perpetual usufructuary of a real estate where the permission was not required or 
the company stocks were quoted in  public exchange transactions. 
The above-mentioned amendment formulates two other ca ses when the foreigner is not required to obtain 
a permission from the Minister of Interior and Administration: 
 Purchase of real estate through take-over by a foreigner who is a bank and at the same time 
a mortgage creditor, by assuming the ownership title of this real estate as a result of an ineffective auction in the execution proceedings, 
 Purchase or a take-over by a bank, a legal person havi ng its seat in Poland and controlled by foreigners 
- of stocks or shares in a company being the owne r or perpetual usufructua ry of real estate, in 
connection with the vindication of claims by this bank stemming from the performed banking 
operations. 
These above two cases do not apply to the real estates lying in the border zone and to the agriculture lands exceeding 1 ha. The characterised changes of Polish Law have a positive  influence on the condition of providing services by 
foreign companies and service providers in Poland. They abandon some restrictions regarding the conditions of getting permission for acqu isition of real estate and at the same they enable foreign actors a free access to 
the service market in Poland.  
S/C/N/111 Poland 17.12.99 State Sports and 
Tourism 
Administration Measure: 
(i) mode of supply covered by the measure: (3) commercial presence; 
(ii) effect on trade in servic es: non-discriminating measure; 
(iii) impact of the measure on commitments in the Member's schedule: 
The Tourist Services Act of 29 August 1997 sets a number  of requirements to be met by domestic and foreign 
tour operators, as well as  enterprises acting as client’s agents and dealing with concluding contracts to 
provide tourist services. A special licence is required for organising of tourist trips and acting as an agent, 
based on client’s commission, in concluding contracts to run tourist services. 
The licence may be granted to  an enterprise which meet s the following conditions: 
- ensures management of the enterprise and of op erations of its organizational units which may 
independently take legal ac tions, by persons who: 
(a) have relevant education and experience, 
(b) have not been penalised for crimes against human li fe and health, credibility of documents, property 
and legality of business operations. 
- proves their capability to ensure covering the costs of a client’s return trip to the country in case the 
tourist service organiser does not ensure the return trip despite their obligation to do so, and covering 
the costs of returning the payments made by the clients in case the contractual obligations towards 
them have not been fulfilled; the capabi lity shall be proved by producing: 
  
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(a) bank guarantee agreement, or insurance guarantee agreement, 
(b) clients insurance agreement. 
The requirements set are identical for all enterprises, both do mestic and foreign. 
 
S/C/N/98 Poland 04.03.99 Polish Securities and 
Stock Exchange Commission  (i) mode of supply covered by the measure: (1) cros s-border supply of services and (3) commercial 
presence; 
(ii) effect on trade in services: liberalization measure; (iii) impact of the measure on commitments in the Member's schedule: Act of 21 August 1997 on public broker activity allows foreign legal person conducting brokerage activities in a country belonging to OECD to conduct such activities in Poland in the form of a Branch Office or a Representative Office. Advisory services on the trade in securities approved  for public trading may be rendered by foreign legal 
persons rendering services of the same nature in countries belonging to OECD without having to meet the condition of the form of a Branch Office or a Representative Office. 
Such activities/establishment requires permission by the Polish Securities and Stock Exchange  Commission. 
 
S/C/N/97 Poland 04.03.99 Ministry of Justice Measure: 
(i) mode of supply covered by the measure: (3) comm ercial presence, (4) presence of natural persons; 
(ii) effect on trade in services: liberalization measure; 
(iii) impact of the measure on commitments in the Member's schedule: 
 Act of 22 May 1997 on the amendment of the act - La w on the Bar, Act on Legal counsellors and some 
other acts, abolishes the nationality requiremen t for attorneys at law and legal counsellors. 
 According to that Act district attorneys' council may waiver the requirement to undergo attorney's 
apprenticeship in respect of a citizen of the Europe an Union member state if such person has graduated 
from a university law faculty recognized in Poland to be equivalent, is fluent in the Polish language in 
speaking and writing, has been entered into the list of attorneys in the European Union member state 
and has practised the profession of an attorney at law. 
 According to the Act of 22 May 1997 the National Council of Legal Counsellors may waiver, on the 
condition of reciprocity, the requirement to undergo legal counsellor's apprenticeship in respect of 
a citizen of the European Union member state if  such person has graduated from a university law 
faculty recognized in Poland to be equivalent and is fluent in the Polish language in speaking and 
writing, has been entered into the list of attorney s at law in the European Union member state and has 
practised the profession of an atto rney at law or a legal counsellor. 
 Companies with foreign participation may be formed pursuant to the Act of 14 June 1991 on companies 
with foreign participation (Journal of Laws - Dz. U. of 1997, No. 26, item 143) in order to provide legal 
assistance in the territory of th e Republic of Poland, provided they meet the following conditions: 
(i) all foreign partners (shareholder s) have the right, obtained abroad, to practice independently the 
profession of an attorney at law or a legal couns ellor, or they form companies with the exclusive 
participation of such persons, and all the Polish pa rtners are legal counsellor s or attorney at law, 
(ii) foreign partners (shareholders)  prove reciprocity on the part of the countries in which they have 
the right to practice independentl y the profession of an attorney at law or a legal counsellor, and 
in case of companies referred to in paragraph 1 ab ove, on the part of the countries of their seat. 
 Attorneys at law and legal counsellors may prvide  legal assistance within the framework of the 
companies referred to in paragraph 1 above if they are partners or shareholders.  
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S/C/N/96 Poland 04.03.99 Ministry of Finance  
 (i) mode of supply covered by the measure: (3) commercial presence; 
(ii) effect on trade in services: liberalization measure; (iii) impact of the measure on commitments in the Member's schedule: 
 Regulation of Minister of Finance of 24 February 1997 allows for investment abroad no more than 5% 
of insurance funds. Insurance funds can be invested in countries belonging to OECD and in the other countries with which Poland has concluded agreem ents on promotion and mutual protection of 
investment. 
 
S/C/N/57 Poland 06.05.97 Ministry of Internal 
Affairs and 
Administration 
 (i) the mode of supply covered by the measure: (3) commercial presence. 
(ii) the impact of the measure on commitments in the Member's schedule: 
According to the Act of 15 March 1996 on amendmen ts to Act on acquisition of real estates by 
foreigners the acquisition of shares by foreigners in the company established in Poland which is an 
owner or perpetual holder of real  estates requires permission if: 
(i) the company will become owned by foreigners or 
(ii) it is owned by foreigners and shares are acquired by the other foreigners who are not its 
shareholders, except the case where this comp any is an owner or perpetual holder of the 
following real estates which are not located within the frontier zones: 
(i) separate flat; or 
(ii) non-built area which does not exceed in tota l 0,4 ha within the urban area and 1 ha within 
the rural area in the whole country. 
 
S/C/N/56 Poland 06.05.97 Ministry of the 
Treasury (i) the mode of supply covered by the measure: (3) commercial presence. 
(ii) the effect on trade in services: a liberalization measure. (iii) the impact of the measure on commitments in the Member's schedule: 
According to the Act of 29 March 1996 on amendments to Act on companies with foreign participation the authorisation of the establishment of a company with foreign equity is not required in the case of 
establishment of company, purchase  or acquiring of shares or st ocks in an existing company; 
extending of the activity of the company when the scope of activity embraces the following areas: 
- management of seaports and airports; - dealing in real estate or acting as in termediary in real estate transactions; 
- supply to defence industry that is no t covered by other li censing requirements; 
- wholesale trade in imported consumer goods; - provision of legal advisory services. 
 
S/C/N/12 Poland 12.02.96 Ministry of 
Communication 
 (i) According to the provision of Article 3, paragr aphs 1 and 2 of the amended Act of Communication, 
a licence requirement has been introduced for foreig n as well as for domestic suppliers of courier 
services since 1 January 1996. 
(ii) The mode of supply covered by the measure: (3) commercial presence 
(iii) The impact of the measure on commitments in the Member's schedule: the measure introduces 
a non-discriminatory system of licen sing in relation to courier services covered by the schedule of 
specific commitments of Poland (CPC 7512). 
  
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S/C/N/607 Saudi 
Arabia, Kingdom 
of 25.10.11 Capital Market 
Authority (CMA) The CMA's Board of Commissioners has issued its resolution number (4-10-2010), dated 16 March 2010, 
providing its approval on the framework for Exchange Traded Funds (ETFs) and the instructions related to it. The resolution has also permitted non-re sident foreigners to trade in ETFs. 
S/C/N/606 Saudi 
Arabia, 
Kingdom 
of 25.10.11 Capital Market 
Authority (CMA) The CMA's Board of Commissioners has issued its resolution number (3-10-2010), dated 16 March 2010, 
providing its approval for Authorised  Persons to enter into Swap Agreem ents with non-resi dent foreigners, 
whether individuals or financial instit utions, for the purpose of transferring  the economic benefits of shares 
listed on the Saudi Stock Exchange (Tadawul) to those fo reigners, provided that the shares will be registered 
in the name of the Authorised Person. The resolution has also provided the conditions and requirements for 
entering into su ch agreements. 
 
S/C/N/605 Saudi 
Arabia, Kingdom of 25.10.11 Capital Market 
Authority (CMA) The CMA's Board of Commissioners has issued its resolution number (1-10-2010), dated 16 March 2010, 
which amended the definition of the term "Independe nt Member" provided in the Corporate Governance 
Regulations. Moreover, the resolution provided that Arti cle (15) of the Corporate Governance Regulation will 
be a mandatory article from 1 January 2011.  
S/C/N/604 Saudi 
Arabia, 
Kingdom 
of 25.10.11 Saudi Arabian 
monetary Agency 
(SAMA) Credit Information Law; this Law has been issued by Royal Decree No. M/37 of 5/7/1429 H (9/7/2008), 
which aims at establishing general principles and cont rols necessary for collection, exchange and protection 
of consumer credit information. This Law shall appl y to companies, members an d government and private 
entities maintaining credit information. 
 
S/C/N/441 Senegal 10.03.08 Regulatory Agency for 
Telecommunications and Postal Services (Agence de 
Régulation des Télécommunications 
et des Postes , ARTP) 
 (a) Creation of a regulatory body for the post al sector, known as the Regulatory Agency for 
Telecommunications and Po stal Services (ARTP). 
 Ref: Law No. 2006-02 of 4 January 2006 amending Law No. 2001-15 of 27 December 2001 
establishing the Telecommunications Code; 
(b) Establishment of a Postal Services Code, which co nfers both rights and a number of obligations on 
operators in this sector. 
 Ref: Law No. 2006-01 of 4 January 2006 establishing the Postal Services Code. 
 
S/C/N/124 Slovak 
Republic 04.07.00 Ministry of Finance of 
the Slovak Republic 
and the National Bank 
of Slovakia Measures: 
Law No. 58/1996 Coll. amending Banking Law No. 21/1992, as amended. 
Description: 
Respective law has abolished paragraph 3(f) of Article 5 of the Banking Law No. 21/1992, as amended 
concerning consideration of reciprocity by authorizatio n of Slovak banks in a state, where the foreign bank 
establishing its branch in the Sl ovak Republic has its residence. 
 
S/C/N/16 Slovenia 04.06.96 Ministry of Economic 
Relations and Development  Schedule of specific commitments, horizontal commitments, market access, investment (document 
GATS/SC/99, page 1). 3(a) Foreign participation in companies going through the process of privatisation pursuant to the Law on 
Ownership Transformation . 
In the Official Gazette  of the Republic of Slovenia No. 1/95 a limit of 10,000,000 ECU to foreign purchase of 
assets in companies in the privatisation process under the Law on Ownership Transformation  is determined. 
For higher value of purchased assets prior authorisation by the government is required according to defined  
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assessment criteria. 
Prior to any purchase of equities or assets of a company by a foreign person  which exceeds the limit 
mentioned, the government of th e Republic of Slovenia should assess the proposal according to: 
(1) The potential foreign purchaser; 
(2) Activities which are or will be performed by the target company until and after completion of the sale 
of equities, or activities which will be performed in the new company after completion of the sale of target company's means; 
(3) Target company's business activities until now; (4) Target company's projections of business activities for the next five years after completion of the sale 
of equities to a foreign buyer, or the projections of  the activities of the ne w company after completion 
of the sale of target company's means; 
(5) Volume of equity or value of means, which will be sold to a foreign buyer, contract price, terms of 
payment and other selling contract elements; 
(6) Estimated general profits and costs,  which will be borne by the Republic of Slovenia as a result of the 
sale of equity or targeted company's means to a foreign buyer. 
Each of the above-mentioned criteria is further elaborated in detail in paragraphs 5, 6, 7, 8, 9 and 10 of the law. No impact on the commitments of the Republic of Slovenia. 
 
S/C/N/683 South 
Africa 1.03.13 Independent 
Communications 
Authority of 
South Africa 
 The Electronic Communications Act 36 of 2005 which provid es for the regulation of electronic communications 
in South Africa.  
S/C/N/682 South 
Africa 1.03.13 Department of Trade 
in Industry 
 The Companies Act 71 of 2008 which provides for the regula tion of the establishment and operation of juristic 
persons. The Act replaces the Companies Act 61 of 1973 and amends the Close Corporations Act 60 of 1984. 
S/C/N/657 South 
Africa 01.10.12 The Financial Services 
Board (FSB) of 
South Africa 
 The Financial Services Board Act 97 of 1990 which provides for the establishment and functions of the 
Financial Services Board of South Africa 
 
S/C/N/656 South 
Africa 01.10.12 Independent 
Communications Authority of South Africa  Independent Communications Authority of South Afri ca Act No. 13 of 2000 which provides for the 
establishment and functions of the Independen t Communications Authority of South Africa. 
 
S/C/N/106 Spain 28.07.99 Ministry of the 
Economy and Finance 
 Directorate-General of Trade Po licy and Foreign Investment 
Measure: 
Royal Decree No. 664/1999, of 23 April, on foreign investment 
Basis and summary: 
The liberalization of the foreign investment regime is now being completed with the establishment of the 
fundamental principle of freedom of investment, repe aling the previous regulations, both for foreign 
investment in Spain and Spanish inve stment abroad. The verification and authorization procedures applicable 
to both types of investment have therefore been abolished.  
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S/C/N/74 Spain 29.09.98 Ministry of 
Development and Telecommunications 
Market Commission The purpose of Law 11/1998 of 24 April is to regulate  telecommunications in conformity with the exclusive 
competence of the State under Article 149.1.21 of the Constitution. The Law seeks to promote full competition by applying th e principles of non-discrimination and transparency 
in the supply of all services and the establishment of a system of general authorizations and individual 
licences for the supply of services and the installation or operation of telecommunication networks.  
S/C/N/168 Sri Lanka 27.08.01 Telecommunications 
Regulatory 
Commission of 
Sri Lanka 
 New payphone operators will not be authorised up to  end of year 2001. Currently there are 10 authorised 
payphone operators in Sri Lanka. 
 
S/C/N/167 Sri Lanka 27.08.01 Telecommunications 
Regulatory Commission of Sri Lanka  The Commission permitted use of Glob al Mobile Personal Communications Services (GMPCS) in Sri Lanka with 
effect from 9 April 1999, subject to the issuance of a licence under Section 22 of Sri Lanka Telecommunications Act No. 25 of 19991 as amended.  
S/C/N/671 Switzer-
land 22.11.12 Federal Office of 
Public Health, Federal 
Department of Home 
Affairs 
 Federal law of 18 March 2011 on Psychological Professions (RS 935.81) 
This new law determines the conditions to obtain the title of psychologist, the requirements for qualification 
and for authorisation to practice ps ychotherapy on own responsibility. 
S/C/N/597 Switzer-
land 05.08.11 Department of the 
Economy, Energy and Land Planning and Development (DEET) of the Canton of 
Valais Measure: 
Law of 11 October 2007 on the exercise of the profession s of mountain guide, snow sports instructor and 
mountain leader and on the commercial provision of  sporting activities subject to stringent safety 
requirements (935.2). Ordinance of 15 April 2008 on the exercise of the profes sions of mountain guide, snow sports instructor and 
mountain leader and on the commercial provision of  sporting activities subject to stringent safety 
requirements (935.200). Description: 
The notified legislation establishes the accreditation and training requirements for mountain guides, snow 
sports instructors and mountain leaders. It also lays down the operating requirements for mountain guide companies and snow sports schools.  
S/C/N/596 Switzer-
land 05.08.11 Directorate of 
Land-Use Planning, 
the Environment and 
Construction (DAEC) 
of the Canton of 
Fribourg Measure : 
Article 8 of the Law of 2 December 2008 on land-use planning and construction (LATeC; RSF 710.1) 
Articles 5 to 7 of the Implementing Regulations of 1 December 2009 of the Law on land-use planning and 
construction (ReLATeC; RSF 710.11) 
Description: 
The notified legislation lays down the qualification re quirements for persons submitting land-use planning 
files and applications for building permits. Construction projects, pe rmit applications  and conformity 
certificates must be prepared by pe rsons entered in the Swiss registers of professionals in the fields of 
engineering, architecture and the environment. 
  
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S/C/N/568 Switzer-
land 17.09.10 Federal office of 
Transports, Department of the 
Environment, 
Transport, Energy and Communications  Measure: 
Federal law of 20 March 2009 on Passenger Transportation (RS 745.1). 
Description: 
The law determines the basic rules and conditions for licensing and requirements for offers of domestic 
transportation as well as the basic obligations for regular and professional passenger transportation. 
 
S/C/N/567 Switzer-
land 17.09.10 Federal office of 
Transports, 
Department of the 
Environment, 
Transport, Energy 
and Communications 
 Measure: 
Federal law of 20 March 2009 on Authorization of Road Transport Companies (RS 744.10). 
Description: 
The law determines the criteria for the authorization of road transport companies for passenger and freight 
transportation. A lack of financial capacity or profession al competence may result to denial of authorization. 
 
S/C/N/482 Switzer-
land 16.02.09 Department of Health 
of the Canton of Zurich  Measure: 
Ordinance of 28 May 2008 on medical professions requiring a university degree (811.11) 
Affected commitments in the schedule: 
The law completes the federal law of 23 June 2006 on medical professions requiring a university degree (SR 811.11) and the cantonal law of 2 April 2007 on public health (810.1). It e.g. determines the fields of activities of medical professions an d the bodies for issuing licences.  
 
S/C/N/481 Switzer-
land 16.02.09 Department of Health 
of the Canton of 
Zurich Measure: 
Law of 2 April 2007 on public health (810.1) 
Affected commitments in the schedule: 
The law regulates in addition to the federal law of 23 June 2006 on medical professions requiring a university 
degree (SR 811.11) the activities of health care profes sions subject to special permit (license), establishes 
the requirements for authorization and the conditions for the practice of the professions, regulates the 
supervision, the enforcement and the penalties.  
 
S/C/N/480 Switzer-
land 16.02.09 Department of 
Education of the Canton of Schwyz Measure: 
Cantonal enforcement ordinance of 31 October 2006 regarding occupational education, occupational 
consulting and further education (SRSZ 622.110) Affected commitments in the schedule: 
The ordinance implements the cantonal ordinance of 17 May 2006 regarding professional education, 
occupational consulting and further education (SRSZ 622.110). It regulates e. g. private occupational 
education to foreign learners.  
S/C/N/479 Switzer-
land 16.02.09 Department of 
Education of the 
Canton of Schwyz Measure: 
Cantonal ordinance of 17 May 2006 regarding professional  education, occupational consulting and further 
education (SRSZ 622.110) 
Affected commitments in the schedule: 
The ordinance regulates e.g. the conditions, under whic h private providers of occu pational education can be 
allowed and get financial contributions from the Canton.  
  
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S/C/N/478 Switzer-
land 16.02.09 Department of Home 
Affairs of the Canton of Schaffhouse Measure: 
Cantonal law of 13 December 2004 on the restaurant indu stry and on retail trade with alcoholic beverages 
(SHR 935.100) 
Affected commitments in the schedule: 
The law regulates the restaurant industry and retail tr ade with alcoholic beverages with a view to protect 
young people and maintain public order. It regulates e.g. the granting of license s for managing restaurants 
and for retail trade with alcoholic beverages.  
 
S/C/N/477 Switzer-
land 16.02.09 Department of 
Education of the 
Canton of 
Schaffhouse Measure: 
Cantonal introductory law of 8 May 2006 on the federal occupational education law (SHR 412.100) 
Affected commitments in the schedule: 
The law implements the federal law of 13 December 2002 on occupational education (SR 412.10). It provides 
e.g. for the possibility to assign by authorized agreement functions related to occupational education to 
private suppliers.  
 
S/C/N/476 Switzer-
land 16.02.09 The Communes and 
Canton of Valais Measure: 
Law of 8 February 2007 on the Commerce Police (930.1) 
Ordinance of 16 August 2007 concerning the Law on the Commerce Police (930.100) Schedule commitments covered: 
The Law regulates commercial activiti es requiring notification or authorization; operation of machines and 
dispensers of goods; organization of various games and competitions and operation of gaming rooms and 
similar establishments. It stipulates that authorization is required in particular for gaming rooms and similar establishments.  
S/C/N/475 Switzer-
land 16.02.09 Canton of Berne Measure: 
Law of 11 November 1993 on the hotel industry (BSG 935.11) 
Description: 
The Law concerns the catering sector and the sale of alcoholic beverages. It lays down a licensing 
requirement for certain activities. 
 
S/C/N/474 Switzer-
land 16.02.09 Federal Department 
of Finance (FDF) Measure: 
Law of 22 June 2007 on the Federal Financia l Market Supervisory Authority (LFINMA) 
Description: 
The purpose of the Law is to amalgamate supervision of  banks, private insurance and financial intermediaries 
subject to surveillance under the laws on financial markets. The Federal Banking Commission (CFB), the Federal Private Insurance Office (OFAP) and the Anti-M oney Laundering Control Authority (Control Authority) 
are incorporated into a single entity, the Federal Financial Market Supervisory Authority (FINMA). The creation of an integrated authority constitutes a new or ganizational approach, whose objective is to reinforce 
Swiss supervision of financial markets and give the competent authority more power as a partner on the international scene.  
S/C/N/467 Switzer-
land 18.08.08 Federal Office for 
Migration (FOM) Measure: 
Federal Law on Foreign Nationals dated 16 December 2005 (SR 142.20) 
  
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Description: 
The notified Federal Law on Foreign Nationals and the applicable provisions under international law form the 
legal basis for the control of entry and departure of fore ign nationals, for the establishment of the conditions 
of their presence as well as for displacement measures. It contains, in particular, measures on admission; 
entry and leave; authorisation and notification obligation; admission requirements; provisions on stay 
(short-term stay, residence permit, long-term residence permit); integration; requ ired documents; return 
and reintegratio n assistance. 
The new Law on Foreign Nationals restrains the entrance of people to the labour market to highly qualified 
specialists. Any divergent provision in respect of nati onals from EC and EFTA Member States contained in the 
agreement between Switzerland and the EC about the free movement of natural persons or in the 
EFTA agreement prevails the Federal Law on Foreign Nationals. 
 
S/C/N/412 Switzer-
land 29.10.07 Federal Department 
of Finance (FDF) Measure: 
Federal Law on Collective Investment Schemes (SR 951.31) of 23 June 2006 
Description: 
The new Law extends the scope of the existing Law on  Investment Fund to cover also other forms of 
collective investment schemes. The Law on Collective Investment Schemes draws a basic distinction between open-ended and closed-ended collective investment schemes. In the case of open-ended collective investment schemes, the Law will continue to provide for investment funds in cont ractual form. Additionally, 
investment companies with variable capital (SICAV) are in troduced. In the case of the closed-ended collective 
investment schemes, limited partners hip modelled on the Anglo-Saxon liability partnership for collective 
investment schemes are introduced. The Law also brings the "Société d'investissement à capital fixe (SICAF)" 
within the scope of the law. As such, the Swiss investment scheme legislation re-establishes full congruity between Swiss law and European Communities regu lations on EC-compatible investment funds. 
In the case of open-ended collective investment scheme s, the new Law provides for retail funds open to the 
public and funds for qualified investors, whereas advertis ing to qualified investors is  not deemed to be public. 
The Law also provides for terms and co nditions with regard to a simplified  approval process for public funds 
and funds for qualified investors.  
S/C/N/396 Switzer-
land 25.05.07 Federal Office for 
Communications 
(OFCOM) Measure: 
Federal Ordinance on radio and television (RS 784.401) 
Description: 
Implementing provisions applicable, on the one hand, to radio and television broadcasters in respect of 
advertising and sponsorship, the granting of concessi ons to broadcasters with a service provision mandate 
and the allocation of licence fee re venue shares and, on the other hand, to telecommunications service 
providers in respect of the technical broadcasting of radio an d television programmes and the obligation to 
broadcast certain programmes. 
 
S/C/N/384 Switzer-
land 08.12.06 Department of 
Finance, Institutions and Security and the communes of the Canton of Valais Measure: Cantonal Law and Ordinance on accommodation services, catering services and the retail trade in 
alcoholic beverages. 
Description: The Law and Ordinance regulate access to the profession and establ ish regulations governing 
any business concern engaged in the pr ovision of accommodation or catering  services or trade in alcoholic 
beverages.   
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S/C/N/383 Switzer-
land 08.12.06 Department of 
Economy of the 
Canton of Vaud Measure: Law on the exercise of economic activities 
Description: The Law defines the activities subject to authorization and regulates the procedure and 
establishes the requirements for authorization. 
 
S/C/N/382 Switzer-
land 08.12.06 Department of 
Education and Culture of the Canton of Uri 
 Measure: Cantonal Ordinance on the appr oval of private academic institutions 
Description: The Ordinance lays down the conditions for cantonal approval of private academic institutions 
based in the canton. 
 
S/C/N/381 Switzer-
land 08.12.06 Department of 
Territory of the 
Canton of Ticino Measure: Cantonal law on the practice of the professions of engineer and architect 
Description: The Law establishes the conditions for the prac tice of the professions of engineer and architect in 
the canton. 
 
S/C/N/380 Switzer-
land 08.12.06 Department of Public 
Economy of the Canton of St. Gallen  Measure: Cantonal Ordinance regarding the Federal Law on consumer credit 
Description: The Ordinance regulates the authorization requirements for lending and loan brokerage 
activities. 
 
S/C/N/379 Switzer-
land 08.12.06 Federal Office for Civil 
Aviation (OFAC) Measure: Federal Ordinance on aircraft  maintenance companies (RS 748.127.4) 
Description: Regulation applicable to Swiss companies and companies established in Switzerland which 
perform, and issue certificates of release to service following, aircraft maintenance work. 
 
S/C/N/378 Switzer-
land 08.12.06 Federal Office for 
Communications (OFCOM) Measure: Federal Ordinance on telecommunications services (RS 784.101.1) 
Description: Provisions applying to telecommunications service providers concerning the technical execution 
of telecommunications services. 
 
S/C/N/377 Switzer-
land 08.12.06 Federal Office for 
Communications 
(OFCOM) Measure: Federal Ordinance on addressing resource s in the telecommunications sector (RS 784.104) 
Description: Provisions applicable to telecommunications service providers concerning the management and 
allocation of addressing resources. 
 
S/C/N/376 Switzer-
land 08.12.06 Department of Public 
Economy of the Canton of Aargau  Measure: Cantonal Ordinance regarding the Federal Law on consumer credit 
Description: The Ordinance regulates the authorization requirements for lending and loan brokerage 
activities. 
 
S/C/N/296 Switzer-
land 27.02.04 Federal Office for 
Communications Measure: 
Revision of the Order on Telecommunications Services of 31 October 2001 (RS 784.101.1). 
Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/295 Switzer-
land 27.02.04 Federal Office for 
Communications Measure: 
Amendment of 7 March 2003 to the Order on Telecommunications Services of 31 October 2001 
(RS 784.101.1). Description: 
The revision relates chie fly to technical issues. 
  
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S/C/N/294 Switzer-
land 27.02.04 Federal Office for 
Communications Measure: 
Amendment of 19 December 2001 to the Order on Telecommunications Services of 31 October 2001 
(RS 784.101.1). 
Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/293 Switzer-
land 27.02.04 Federal Office for 
Communications Measure: 
Amendment of 19 December 2001 to the Order on Telecommunications Fees of 6 October 1997 
(RS 784.106). Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/292 Switzer-
land 27.02.04 Federal Office for 
Communications Measure: 
Amendment of 31 October 2001 to the Order on Addressing Resources in the Telecommunications Sector of 
6 October 1997 (RS 784.104). 
Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/291 Switzer-
land 27.02.04 Federal Office for 
Communications Measure: 
Amendment of 19 February 2003 to the Order on Addressing Resources in the Telecommunications Sector of 
6 October 1997 (RS 784.104). Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/290 Switzer-
land 27.02.04 Federal Office for 
Communications Measure: 
Amendment of 19 December 2001 to the Order on Addressing Resources in the Telecommunications Sector 
of 6 October 1997 (RS 784.104). 
Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/289 Switzer-
land 27.02.04 Federal Office for 
Communications Measure: 
Amendment of 19 February 2003 to the Order on Addressing Resources in the Telecommunications Sector of 
6 October 1997 (RS 784.104). Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/288 Switzer-
land 27.02.04 Federal Office for 
Communications Measure: 
Amendment of 31 October 2001 to the Order on Freque ncy Management and Telecommunication Licences of 
6 October 1997 (RS 784.102.1). 
Description: 
The revision relates chie fly to technical issues.  
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S/C/N/287 Switzer-
land 27.02.04 Federal Office for 
Communications Measure: 
Revision of the Law on Telecommunications of 30 April 1997 (RS 784.10). 
Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/286 Switzer-
land 27.02.04 Federal Office for 
Communications Measure: 
Amendment of 20 August 2001 to the Federal Depart ment of the Environment, Transport, Energy and 
Communications  (DETEC) Order on Telecommunications Admi nistrative Charges of 22 December 1997 
(RS 784.106.12). 
Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/285 Switzer-
land 27.02.04 Federal Office for 
Communications Measure: 
Amendment of 24 February 2003 to the Federal Departme nt of the Environment, Transport, Energy and 
Communications  (DETEC) Order on Telecommunications Admi nistrative Charges of 22 December 1997 
(RS 784.106.12). Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/284 Switzer-
land 27.02.04 Federal Office for 
Communications Measure: 
Amendment of 19 December 2001 to the Federal Departme nt of the Environment, Transport, Energy and 
Communications  (DETEC) Order on Telecommunications Admi nistrative Charges of 22 December 1997 
(RS 784.106.12). 
Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/283 Switzer-
land 27.02.04 Federal Office for 
Communications Measure: 
Amendment of 7 November 2001 to the Federal Office for Communications (OFCOM) Order on Frequency 
Management and Radiocommunication Licences of 9 December 1997 (RS 784.102.11). Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/282 Switzer-
land 27.02.04 Federal Office for 
Communications Measure: 
Amendment of 7 November 2001 to the Federal Office for Communications (OFCOM) Order on Frequency 
Management and Radiocommunication Licences of 9 December 1997 (RS 784.102.11). 
Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/281 Switzer-
land 26.02.04 Federal Office for 
Communications Measure: 
Amendment of 7 November 2001 to the Federal Office of Communications (OFCOM) Order on 
Telecommunications Facilities of 9 December 1997 (RS 784.101.21). Description: 
The revision relates chie fly to technical issues. 
  
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S/C/N/280 Switzer-
land 26.02.04 Federal Office for 
Communications Measure: 
Amendment of 10 February 2003 to the Federal Office of Communications (OFCOM) Order on 
Telecommunications Facilities of 9 December 1997 (RS 784.101.21). 
Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/279 Switzer-
land 26.02.04 Federal Office for 
Communications Measure: 
Amendment of 19 December 2001 to the Federal Departme nt of the Environment, Transport, Energy and 
Communications  (DETEC) Order on Telecommunication Connections Located Outside Inhabited Areas of 
15 December 1997 (RS 784.101.12). Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/278 Switzer-
land 26.02.04 Federal Office for 
Communications Measure: 
Amendment of 2 July 2001 to the Federal Office for Communications (OFCOM) Order on Telecommunications 
Services and Addressing Resources of 9 December 1997 (RS 784.101.113). 
Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/277 Switzer-
land 26.02.04 Federal Office for 
Communications Measure: 
Amendment of 27 February 2001 to the Federal Office for Communications (OFCOM) Order on 
Telecommunications Services and Addressing Re sources of 9 December 1997 (RS 784.101.113). 
Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/276 Switzer-
land 26.02.04 Federal Office for 
Communications Measure: 
Amendment of 7 February 2003 to the Federal Office for Communicatio ns (OFCOM) Order on 
Telecommunications Services and Addressing Re sources of 9 December 1997 (RS 784.101.113). 
Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/275 Switzer-
land 26.02.04 Federal Office for 
Communications Measure: 
Amendment of 20 December 2002 to the Federal Office for Communications (OFCOM) Order on 
Telecommunications Services and Addressing Re sources of 9 December 1997 (RS 784.101.113). 
Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/274 Switzer-
land 26.02.04 Federal Office for 
Communications Measure: 
Amendment of 25 November 2002 to the Federal Office for Communications (OFCOM) Order on 
Telecommunications Services and Addressing Re sources of 9 December 1997 (RS 784.101.113). 
Description: 
The revision relates chie fly to technical issues. 
  
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S/C/N/273 Switzer-
land 26.02.04 Federal Office for 
Communications Measure: 
Amendment of 20 November 2001 to the Federal Office for Communications (OFCOM) Order on 
Telecommunications Services and Addressing Re sources of 9 December 1997 (RS 784.101.113). 
Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/272 Switzer-
land 26.02.04 Federal Office for 
Communications Measure: 
Amendment of 27 September 2001 to the Federal Communic ations Commission (ComCom) Order relating to 
the Communications Law of 17 November 1997 (RS 784.101.112). 
Description: 
The revision relates chie fly to technical issues. 
S/C/N/271 Switzer-
land 26.02.04 Federal Office for 
Communications Measure: 
Amendment of 26 June 2001 to the Federal Communications Commission (ComCom) Order relating to the 
Communications Law of 17 November 1997 (RS 784.101.112). Description: 
The revision relates chie fly to technical issues. 
 
S/C/N/172 Switzer-
land 27.09.01 Federal Council Measure: 
Federal Law on Railways of 20 December 1957 (LCdF; RS 742.101) Article 9, §4. 
Description: 
Access to Swiss railway infrastructure may be granted to a foreign company provided an agreement allowing 
access to the network has been conclude d with the foreign country concerned. 
 
S/C/N/171 Switzer-
land 27.09.01 Federal Transport 
Office Measure: 
Railway network access ordinance (OARF; RS 742.122) of 25 November 1998. 
Description: 
The ordinance governs access to Swiss railway lines for Swiss and foreign railway companies. 
 
S/C/N/170 Switzer-
land 27.09.01 Federal Road Office 
for federal 
authorizations; 
cantons for cantonal 
authorizations. Measure: 
Ordinance of 1 November 2000 concerning quotas for trucks of 40 tonnes and for empty and light-goods 
vehicles (RS 740.11). 
Description: 
For Swiss and foreign quotas covered by internatio nal transport agreements, the ordinance governs the 
conditions for granting permits and collecting levies on permits for vehicles of 40 tonnes and for empty and 
light-goods vehicles. 
 
S/C/N/70 Switzer-
land 29.04.98 Federal Banking 
Commission  Measure: 
Federal Law on Stock Exchanges an d Securities Trading (RS.954.1) 
Description: 
Regulation of the conditions for establishment and exer cise of stock exchange activity, securities trading, 
advertising shareholdings in liste d companies and takeover bids. 
  
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S/C/N/20 Switzer-
land 11.09.96 Federal Office for 
Communications Measure: 
Ordinance on Telecommunications Services (OST), amendments of 23 January 1995, 27 June 1995 and 
22 November 1995 (RS 784.101.1/ RO 1995 743 3542) 
Description: 
The amendments to the Ordinance on Telecommunications Services relate chiefly to technical matters (for 
example, allocation of addressing resources, new regulations on the supply of cable ducts). 
 
S/C/N/620 Chinese 
Taipei 12.03.12 Department of Health Pharmacies may concurrently engage in the retail sale of drugs and medical devices without obtain ing 
a separate licence for pharma ceutical firms. (Pharmaceutical Affairs Act, Articles 19 and 34). Before the 
amendment of the Act, pharmacies want ing to sell medical devices needed to  apply for an additional separate 
licence. Now, this separate licence is not required of pharmacies that wish to engage in the retail sale of medical devices. Concerning supplies, medical device companies can sell medical devices directly to pharmacies without checking if the pharmacy has a licence or not. These revisions have been brought in as a liberalization measure.  
S/C/N/468 Chinese 
Taipei 18.09.08 Department of Higher 
Education, Ministry of 
Education Measure: 
The Law, consisting of nine Chapters with a total of 89 Articles, prescribes requirements for establishment, 
registration, enrollment, staffing, supe rvision, grants, dissolution and penalties of private schools. Pursuant to 
the amendments, foreigners can be elected as the president(s) of the board(s) and employed as 
a schoolmaster(s). The restriction on the proportion of  board members for foreigners has been abolished. 
Affected commitments in the schedule: 
None. This Amendment brings in liberalization that goes beyond the commitments included in the schedule. 
 
S/C/N/400 Chinese 
Taipei 19.09.07 The Department of 
Railways and Highways, Ministry of 
Transportation and 
Communications  Description of the measure: 
To relax the restriction on foreigners managing light truck rental services without operators. 
Affected commitments in the schedule: 
None. This Amendment brings in liberalization that goes beyond the commitments included in the schedule.  
S/C/N/399 Chinese 
Taipei 19.09.07 Ministry of Education Description of the measure: 
The Regulations, formulated in accordance with Article 30 of the University Act and consisting of 13 Articles, 
prescribe the distance learning courses offered by univers ities and the limitation on distance learning credits. 
The regulations limit the total number of distance learning credits to a maximum of 50% of the total credits 
required for a student to graduate  and obtain an academic degree. 
Affected commitments in the schedule: 
None. 
 
S/C/N/301 Chinese 
Taipei 17.03.04 The Department of 
Railways and Highways, Ministry of Transportation and Communications  To relax the restriction on foreigners ma naging regular route trucking services. 
Affected commitments in the schedule: 
The category “freight transportation services” under road transport services in the schedule previously 
excluded regular route trucking services. This ex clusion has been eliminated by this Amendment.  
  
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S/C/N/300 Chinese 
Taipei 17.03.04 The Public 
Construction 
Commission The Act, consisting of five Chapters with a total of 44 Articles, prescribes the market access requirements, 
business scope, supervision, rewards and penalties, and le gal liabilities of professional engineering consulting 
firms. Chapter 1, “General Provisions,” specifies the obje ctives of the Act and the definition of a professional 
engineering consulting firm, the assignment of the responsible entity, and the qualification requirements of 
a chairperson or representative of a professional en gineering consulting firm. Chapter 2, “Permission and 
Registration,” provides the legal application procedures  for the establishment of a professional engineering 
consulting firm. Chapter 3, “Supervision,” details the legal liabilities of a professional engineering consulting 
firm and the jurisdiction of the resp onsible entity. Chapter 4, “Guidance, Rewards and Penalties,” sets out the 
terms for surveillance and punishment, when found in the case of violation of the Act in this sector. 
Chapter 5, “Supplementary Provisio ns,” contains the transitional enforcement regulations of the Act.  
 
S/C/N/230 Chinese 
Taipei 29.04.03 The Directorate 
General of Telecommunications, Ministry of Transportation and Telecommunications (a) To delete the stipulation that a majority of th e board of directors of Ty pe I telecommunications 
enterprise shall be Chin ese Taipei nationals. 
(b) To relax the restrictions on the total direct shareholding by foreigne rs from 20 per cent to 49 per cent. 
Affected commitments in the schedule: 
(a) For basic telecommunications services (facilities-ba sed and public switched telecom service), a majority 
of the board of directors shall be Chinese Taipei nationals under mode 3 in the column of the limitation 
on National Treatment. The limitation was eliminated. 
(b) For basic telecommunications services (facilities- based and public switched telecom service), direct 
investment by non-Chinese Taipei persons in a se rvice supplier has been raised from 20 per cent to 
49 per cent. 
 
S/C/N/670 Thailand 22.11.12 Office of Insurance 
Commission (OIC) Measure: 
- The Insurance Commission Notification on issuance of a Life Insurance Broker’s license to a juristic 
person B.E. 2554 (2011) promulgated on 27 December 2011. 
- The Insurance Commission Notification on issuance of a Non-Life Insurance Broker’s license to a juristic 
person B.E. 2554 (2011) promulgated on 27 December 2011. 
Description: 
The Notifications nullify the previous requirements on pr oportion of Thai shareholder(s) and Thai director (s) 
in an insurance broker company. In undertaking of in surance broker services, a fo reign person, however, is 
responsible to the Foreign Business Act B.E. 2542 (1999). 
This Notification also promoting pu blic access to the insurance product, especially micro-insurance. 
 
S/C/N/669 Thailand 22.11.12 Department of 
National Parks, Wildlife and Plant Conservation Measure: 
The Rule of Department of National Parks, Wildlife, and Plant Conservation on Cinematography in the 
National Parks B.E. 2552 (2009) the Notification of De partment of National Parks, Wildlife, and Plant 
Conservation on Rate of Fee and Damage Surety fo r Cinematography in the National Parks B.E. 2552. 
Description: 
An application for cinematography in na tional parks is required to submit in 5 working days prior to the date 
of filming with a Thai language synopsis. Also, an appl icant is responsible for fee and damage surety payment 
at the rate prescribed by law. In the case of foreign film, a permit granted by th e Department of Tourism or 
a relevant committee (s) is required additionally.   
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S/C/N/668 Thailand 22.11.12 Department of 
Tourism, Ministry of 
Tourism (former 
name: Office of 
Tourism 
Development) Measure: 
The Tourism and Tourist Guide Business Act B.E. 2551 (2008) 
Description: 
An applicant for tourist business submitted by a natural person must have qualifications including Thai 
nationality and domicile or residence within the Kingdom of Thailand. For ju ridical partnership, a partner with 
unlimited responsibility must hold a Thai nationality. In  case of a company limited or public company limited, 
at least 51% of its capital must be held by a natural person (s) with Thai nationality where over a half of 
directors must hold Thai nationality, and a managing di rector or authorized representative of that person 
must have all qualifications pr ovided for the natural person. 
 
S/C/N/667 Thailand 22.11.12 Department of Civil 
Aviation, Ministry of Transportation Measure: 
Air Navigation Act (No.11) B.E. 2551 
Description: 
An aircraft repair station service in Thailand shall obtain a Repair Station Certificate which is divided into three classes, namely: (1) Class one (aircraft maintenance), the law provides that a Thai limited compan y or Thai pu blic limited 
company with headquarter within the Kingdom is allowed. Furthermore, management and 
administrative authority must be subject to a Thai person (s) and foreigners are allowed not exceeding 
49% of equity participation. 
(2) Class two (major aircraft app liance maintenance) and class three (Technical Standard Order (TSO) 
articles and aircraft parts mainte nance), the law provides that a Thai juridical person is allowed 
without prescribing on equity participation of a foreigner (s) in which the foreigner (s) is able to have the equity participation exceeding 49% 
 
S/C/N/666 Thailand 22.11.12 Department of 
National Parks, 
Wildlife and Plant 
Conservation, Ministry 
of Natural Resources 
and Environment Measure: 
The Ministerial Regulation on Procedures, Criteria and Requirements on Application and Permit for Breeding 
Preserved or Protected Wildlife, Possession and Movement for Commercial Purpose of Protected Wildlife, 
Carcass of Protected Wildlife and W ildlife Carcass Products B.E. 2551. 
Description: 
Among other qualifications prescribed by the Regu lation, an applicant for breeding of preserved and 
protected wildlife must have a place of residence or domicile in Thailand. 
 
S/C/N/665 Thailand 22.11.12 Department of 
Employment, Ministry of Labour Measure: 
- the Working of Alien Act, B.E. 2551 (2008); 
- the Ministerial Regulation on Prohibitions for Work Permit Application for Alien B.E. 2552 (2009); and - the Ministerial Regulation on Working and Employment Fee Rate of Alien B.E. 2552 (2009). Description: 
A foreigner working in Thailand needs a work permit from an authorised regist rar and is responsible for 
payment fee. A foreign applicant must acquire temporary stay or have a place of residence in Thailand. The 
applicant must not fall under any prohibitions stipulated by the Regulations. Authorized work, the working area and the working period will be prescribed in Ministerial Regulation in light of national security, occupation opportunity of Thai s, necessary demand of fo reigners, or the country's 
development needs.   
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S/C/N/664 Thailand 22.11.12 Ministry of Finance Measure: 
The Amendment of the Non-Life Insurance Act B.E. 2551 
Description: 
(1) Transformation to public company limited 
 For a prudential reason, a limited company of non-li fe insurance must transfor m into a public limited 
company within 5 years from the effective date of the Act otherwise its business may continue for 
another 3 years but unable to expand business or ac cept new insurance policies. If the transformation 
is not completed within that 3 year period, th e license will be expire d and deemed revoked. 
(2) Foreign shareholding and composition of directors 
 At any appropriate reason, the insurance commission may allow up to 49% of the total sold voting 
shares or more than 1/4 but less than 1/2 of the to tal number of directors for a non-Thai person(s). 
 A non-life insurance company must adjust its propor tion of shareholding and composition of directors 
to comply with the Act within 5 years from the effective date or may continue its business but unable 
to establish a new branch in otherwise. 
 
S/C/N/663 Thailand 22.11.12 Ministry of Finance Measure: 
The Amendment of the Life Insurance Act B.E. 2551 
Description: 
(1) Transformation to public company limited  For a prudential reason, a limited company of life  insurance must transform into a public limited 
company within 5 years from the effective date of the Act otherwise its business may continue for another 3 years but unable to expand business or ac cept new insurance policies. If the transformation 
is not completed within that 3 year period, th e license will be expire d and deemed revoked. 
(2) Foreign shareholding and composition of directors  At any appropriate reason, the insurance commission may allow up to 49% of the total sold voting 
shares or more than 1/4 but less than 1/2 of the to tal number of directors for a non-Thai person(s). 
 A life insurance company must adjust its proportion  of shareholding and composition of directors to 
comply with the Act within 5 years from the effective date or may continue its business but unable to 
establish a new branch in otherwise
. 
 
S/C/N/662 Thailand 22.11.12 Ministry of Finance Measure: 
Financial Institution Business Act B.E. 2551 
Description: 
(1) Foreign shareholding and composition of directors 
 At reasonable ground, the Bank of Thailand may al low up to 49% of the sold voting shares or more 
than 1/4 but less than 1/2 of all directors in each financial institution for non-Thai nations. 
 In necessary case to improve the financial performance or strengthen the security of any financial 
institution or secure the system of such institution, the Minister, with the advice of the Bank of 
Thailand, may allow the number of shares or of directors more than the specified number where 
a rule, criteria, or condition of time period may be set additionally. 
(2) Percentage of an individual shareholding 
 No person is allowed to hold or own shares (exc luding non-voting preferred shares) of any financial 
institution, directly or indirectly, exceeding 10% of the total sold shares, unless permitted by the Bank  
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o f  T h a i l a n d  o r  i n  c o m p l i a n c e  w i t h  a  r u l e  o r  c r i t e r i a  o f  t h e  B a n k  o f  T h a i l a n d .  I n  t h i s  r e g a r d ,  t h e  
mentioned percentage is included the number of sh ares held or owned by a person related to such 
person. 
 
S/C/N/661 Thailand 22.11.12 Department of 
Business Development, Ministry of Commerce Measure: 
The Act on Amendment to Civil and Co mmercial Code (No. 18) B.E. 2551 
Description: 
The amendment of Act is aimed to eliminate complications,  difficulties, and delays of  a bureaucratic process. 
In this regard, establishment of limited partnership or  limited company is more flexible. For example, the 
number of company founders is reduced from seven to th ree persons; the registrati on period of partnership 
or company is deducted into 1 day provided that all legally required steps have been done completely; the 
2 times of announcement in a newspaper to call shareholders a meeting is  dropped into 1 time. 
 
S/C/N/603 Thailand 14.10.11 The National 
Broadcasting and 
Telecommunications 
Commission Measure: 
Act on the Organization to Assign Radio Frequency and to Regulate the Broadcasting and Telecommunications 
Services B.E. 2553 (2010) 
Description: 
The reason for the amendment of the Act on Organization to Assign Radio Frequency and to Regulate the 
Broadcasting and Telecommunications Services B.E: 2553 (2010) is to establish the National Broadcasting 
and Telecommunications Commission (NBTC), which will ha ve the powers and duties to establish a master 
plan for frequency allocation, broa dcasting and telecommunications. 
 
S/C/N/489 Thailand 16.03.09 Ministry of Finance / 
Office of Insurance Commission Measure: Amendment of the Non-Life Insurance Act B.E. 2535 (1992) 
Description: The objective of this Act is to improve the regulations that govern licensed non-life insurance 
company, representative, and broker to reflect the current situation in order to safeguard the interest of 
people and insurer and to ensu re stable development of the non-life insurance industry. 
 
S/C/N/488 Thailand 16.03.09 Ministry of Finance / 
Office of Insurance 
Commission Measure: Amendment of the Life Insurance Act B.E. 2535 (1992)  
Description: The objective of this Act is to improve the regulations that govern licensed life insurance 
company, representative, and broker to reflect the current situation in order to safeguard the interest of 
people and insurer and to ensure stable de velopment of the life insurance industry. 
 
S/C/N/487 Thailand 16.03.09 Ministry of Finance / 
Bank of Thailand Measure: Financial Institutions Bu sinesses Act B.E. 2551 (2008)  
Description: The objective of this Act is to maintain economic stability and entrust the depositors and the 
public by prescribing the good go vernance rules for any person who perform the duty of a director, 
a manager, an officer or a person with power of manage ment of financial institutions. It also has the aim to 
enhance the risk management of financial institutions, to ensure the prudential supervision and to prevent 
damages which may result from financial institution undertaking.  
S/C/N/486 Thailand 16.03.09 The National 
Telecommunications 
Commission Measure: Amendment of the Telecommunic ation Business Act B.E. 2544 (2001) 
Description: The reason of the amendment of the Telecommunication Business Act B.E.2544 (2001) is to 
encourage foreign investment in certain types of telecommunication business that require vast investment 
and advanced technology.  
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S/C/N/91 Thailand 18.12.98 Ministry of Commerce 
and Securities and Exchange Commission 
 Measures: 
Royal Decree Permitting Aliens to undertake Se curities Brokerage Busine ss under Annex A of the 
Announcement of the National Executive Council No. 281 dated 24 November B.E. 2515 (1972), B.E. 2541 
(1998). 
Rationale and Essence: 
The reason for the promulgation of this Royal Decree is that, at present, aliens are able to make investment 
in juristic persons who are undertaking finance business under the law relating to finance business, securities business and credit foncier business in excess of 50 per cent of that company's capital. However, many 
juristic persons who are undertaking finance business may also, at the same time, undertake securities business under securities law. In addition, where an al ien has entered into a joint venture with the juristic 
person who is undertaking securities business, such juristic person will become an alien, and therefore, be prohibited from undertaking a certain type of securities business. In order to be consistent with the law relating to finance business, securities business, and cr edit foncier business, and to promote the capital inflow 
from foreign countries, it is deemed appropriate to allow the juristic person who is an alien to under a certain 
type of securities business under stipulated conditions. Description: 
The summary of the amendments are as follows: The Royal Decree allows aliens to seek permission to hold 
up to 100 per cent of shares in a Thai securities company for a period of 10 years. After such period, aliens are not required to dilute their shareholdings but are not allowed to increase their investments unless it is a purchase of existing shares from an other alien shareholder. In applying for the permission, aliens have to 
meet the following criteria. (a) Aliens have brought in foreign capital of not le s s  t h a n  5 0 0  m i l l i o n  b a h t  e i t h e r  t o  b u y  s h a r e s  f r o m  
existing shareholders of the secu rities company or to invest in the newly issued shares of the 
securities company or to invest in government or state enterprise bonds. Such capital will include fund that has been remitted to the securities company within the period of one year prior to the date of applying for permission. In additi on, the capital must also be maintained in Thailand for at least 
3 years. 
(b) Managing director and executive directors who are aliens have to stay in Thailand for not less than 
60 days per year, unless otherwise ha ve obtained a waiver, but still have to stay in Thailand for not 
less than 30 days per year. 
 
S/C/N/73 Thailand 29.09.98 Ministry of Finance 
and Bank of Thailand Measure: 
Emergency Decree amending the Act on the Undertaking of Finance Business, Securities Business and Credit 
Foncier Business B.E. 2522 (No. 3) B.E. 2540 (1997) 
Description: 
The essence of the Emergency Decree is the addition of Chapter 5bis "the merger and transfer of business" to 
the Act on the Undertaking of Finance Business, Securiti es Business and Credit Foncier Business B.E. 2522 to 
encourage and remove obstacles to the merger and acquisition of financial institutions which have been 
approved by the Minister of Finance. 
The details of the amendments are as follows: 
(1) The relevant articles of the Civil and Commercial Co de which require prior notification to the debtor of 
the transfer of claims on such debtor, shall be wa ived to expedite the process of merger. (Amendment 
to Section 306). 
  
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(2) In the case of the core financial institution acquiring shares in another company for the purpose of 
merging their operation, the Bank of Thailand shall have the power to waive the prohibition of 
cross-directorship and allow directors, manager of personnel with the power to administer, of such 
core financial institution to assume the position of directors, managers or personnel in ailing finance 
companies. The waiver shall not be more than 5 years. (Amendment to Section 22). 
(3) In the case of an urgent need, a merger which has been approved by the Minister of Finance upon 
recommendation of the Bank of Thailand can be made  through a proposal of the Board of Directors or 
that particular finance company. The company's creditors shall not have any right to object the 
merger, irrespective of whether such finance compan y is privately or publicly-owned. The creditors or 
any other party, shall not have the right to file for bankruptcy during the process of merger or transfer 
of businesses. 
(4) Financial institutions undertaking a merger or transfer of businesses as approved by the Minister shall 
organize a shareholders meeting, bu t may shorten the period normally used to call for a shareholders 
meeting (no less than 7 days and no more than 14 days). Public notification or advertisement of such 
meetings shall be made no less than 3 days pr ior to the meeting date. However, the merger or 
transfer of businesses shall be made legal in the case than no less than three-fourths of the 
shareholders approve. 
(5) Finance companies proposing the merger or transfer  of businesses and the core financial institutions 
shall be exempted from related fees and other taxes arising from the merger or transfer or businesses 
as stipulated by the Cabinet. The exemption may be made across the board or on a case-by-case 
basis. 
(6) In granting the approval for the merger or the transfer of businesses, should there be a need for 
financial assistance from the Financial Institutions Development Fund, the government shall 
compensate the Fund as deemed appropriate. 
S/C/N/72 Thailand 29.09.98 Ministry of Finance 
and Bank of Thailand Measure: 
The Emergency Decree Amending the Commercial Banking Act B.E. 2505 (No. 2)  
B.E. 2540 (1997) 
Description: 
Principles: Amendments to the commercial Banking Act B.E. 2505 are made as follows: (1) Relaxation of regulations on foreign shareholder limit and on the appointment of foreign directors in 
a commercial bank (amendment to Section 5 quinque); and 
(2) Relaxation of regulations to allow a person serving as a director or holding any other position in 
a commercial bank to concurrently serve as a di rector or hold any other position in another 
commercial bank for a certain period and on ce rtain conditions (amendment to Section 19). 
Rationale : 
The Commercial Banking Act B.E. 2505 prohibits persons of  foreign nationality to hold shares, or serve as 
directors, in excess of one-fourth of the total amou nt of shares and of the total number of directors, 
respectively, in a commercial bank. It also prohibits a person serving as a director or holding any other position in a commercial bank to concurrently serve or hold a position in another commercial bank. However, as the financial system is currently facing a confidence crisis and a problem of a de teriorating asse t quality in 
tandem with the economic slowdown it is necessary to attract foreign funds to support the domestic financial  
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system. Therefore, it is extremely urgent to issue this  emergency decree relaxing the regulation s on foreign 
shareholder and foreign management limitations of commercial banks, as well as the regulations on 
cross-holding of positions. 
Essence : 
According to this emergency decree , the following amendments are made  to the Commercial Banking Act 
B.E. 2505: 
"Section 5 quinque. A Commercial bank shall have no less than three-fourths of its total amount of s h a r e s  s o l d  h e l d  b y  p e r s o n s  o f  T h a i  n a t i o n a l i t y ,  and shall have as it s directors who are of Thai 
nationality at no less than three-fourths of the total number of directors. In cases where the situation calls for a remedial action to improve the condition or business of a commercial bank, the Minister, upon recommendation of the Bank of Thailand, has the authority to relax the above limits on the amount of shares or the number of directors. Su ch relaxation may be granted with any condition." 
"Section 19. No person serving as a director or ho lding any other position in a commercial bank shall 
concurrently serve as a director or  hold any other position in another commercial bank except of the 
following cases: 
(1) Such position is related to legal counselling or on e not connected with the operation of or the giving of 
advice to, a commercial bank; 
(2) Waiving is granted by the Minister, upon recomme ndation of the Bank of Thailand for a period not 
exceeding three years with or without conditions." 
This emergency decree will be effective on the day following the announcement in the Royal Gazette.  
S/C/N/270 The 
Former 
Yugoslav 
Republic 
of 
Macedonia 
(FYROM) 02.02.04 Ministry of Finance 
National Bank of the 
Republic of Macedonia  Reduction of the minimum amount of shares with vo ting right in a bank for which previous agreement 
by the National Bank is required from 10% to 5%. 
 Specification of the procedure and documentation encl osed to the application for obtaining license for 
founding and operating a bank and for receiving prev ious agreement or acquiring shares with voting 
right. 
 The investment by the bank in pension and investment funds, as well as in companies for gathering, 
provision and exchange of information in connection wi th the claims of the banks, is excluded from the 
limit for the overall property of the bank and from the limit of the aggregate amount of capital shares 
of the bank in other banks, financ ial and non-financial institutions. 
 
S/C/N/269 The 
Former Yugoslav Republic of Macedonia (FYROM)  03.02.04 Ministry of Finance 
National Bank of the Republic of Macedonia - Authorized banks may grant credits to residents in foreign exchange. 
- The latest amendments to the Law, provides an  opportunity Deposit Insurance Fund, insurance 
companies, Pension Funds & Investment Funds may purchase foreign securities in accordance with the laws regulating their operations.  
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S/C/N/268 The 
Former 
Yugoslav 
Republic 
of 
Macedonia 
(FYROM) 
 02.02.04 National Bank of the 
Republic of Macedonia 
Ministry of Finance  Full transfer of the denar exchange rate policy  under the competence of the National Bank. 
 Prohibition for the National Bank to provide guarantees and other types of security for the liabilities of 
legal entities and physical persons. 
 The professionalism, responsibility and transparen cy of the National Bank bodies are increased. 
 Full application of the International Accounting Standards in the preparation of the financial 
statements of the National Bank is provided. 
 
S/C/N/267 The 
Former Yugoslav Republic of Macedonia (FYROM) 03.02.04 Ministry of Finance, 
Securities and Exchange Commission In May 2003 the latest amendments to the Securities Law were made, envisaging important new criteria to 
be met by the members of the Securi ties and Exchange Commission, accord ing to which only experts in the 
area of finance and persons fully depoliticised can be members of the Commission. In addition, the 
amendments envisage provisions for greater transparency in the operations of the Securities and Exchange Commission with respect to the funds it realizes from it s operations and the spending thereof, as well as for 
introduction of obligation to prepare audit reports and publish part of the audit report in at least one daily 
newspaper in the Republic of Macedonia and on the we bsite of the Commission within 15 days from its 
adoption by the Commission.  
S/C/N/266 The 
Former 
Yugoslav 
Republic 
of 
Macedonia 
(FYROM) 
 02.02.04 National Bank of the 
Republic of Macedonia 
Ministry of Finance 
 Full text English translation of the Law on prompt money transfer is attached. The English translation is for 
reference only and Macedonian version shall be authentic. 
 
S/C/N/593 Togo 30.05.11 Ministry of Sports and 
Leisure Order No. 002/MSL/CAB of 18 March 2011 laying down th e requirements for the creation and operation of 
sports training centres 
 
S/C/N/592 Togo 30.05.11 Ministry of Arts and 
Culture 
 Law No. 90-24 of 23 November 1990 on protection of the national cultural heritage 
 
S/C/N/591 Togo 30.05.11 Ministry of Arts and 
Culture The global vision of Togo's cultural policy is to bu ild a united nation on dive rsified and renewed cultural 
foundations. The policy's overall objective is to lay a firm basis for the country's cultural and artistic development seeking maximum impact for the long te rm across a broad range of  development objectives. 
 
S/C/N/590 Togo 30.05.11 Ministry of the 
Economy and Finance 
 Decree No. 2009-295/PR of 30 December 2009 establishing the mandate, responsibilities, organization and 
functioning of the National Directorate fo r the Control of Gove rnment Procurement. 
 
S/C/N/589 Togo 30.05.11 Ministry of the 
Economy and Finance Law No. 2009-013 of 30 June 2009 relating to government procurement and public service concessions. This 
Law establishes the rules governing th e control and regulation of government procurement and public service 
concessions in Togo.  
S/C/N/588 Togo 30.05.11 Ministry of the 
Economy and Finance Decree No. 2009-277/PR of 30 December 2009 establishing the responsibilities, organization and functioning 
of the bodies responsible for government  procurement and procurement control.  
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S/C/N/587 Togo 30.05.11 Ministry of the 
Economy and Finance Decree No. 2009-296/PR of 30 December 2009 establishing the mandate, responsibilities, organization and 
functioning of the Government Procurement Regulatory Authority (ARMP), which ensures the independent regulation of the government procuremen t and public service concessions system. 
 
S/C/N/586 Togo 30.05.11 National Commission 
for the Approval of 
Construction and 
Public Works 
Companies 
 Interministerial Orders Nos. 004; 005; 006/MEF/MTP of 10 June 2010 establishing the conditions of issuance 
and withdrawal of permits for, respectively, constr uction consultants and companies; waterworks and 
sewerage consultants and companies; and consultants an d companies involved in ro ad infrastructure works. 
 
S/C/N/585 Togo 30.05.11 Ministry of the 
Economy and Finance Decree No. 2009-277/PR of 11 November 2009 establishing the government procurement code and public 
service concessions. Pursuant to Law No. 2009-013 of 30 June 2009 relating to government procurement and public service concessions, the Decree lays down and specifies the rules regulating government procurement 
and public service concessions and control thereof, and the execution of government procurement by the 
legal persons referred to in Article 3 of the Law.  
S/C/N/584 Togo 27.05.11 Ministry of Tourism Decree No. 89-138/PR of 23 August 1989 regulating the profes sion of tourist guide, in particular with regard 
to accreditation, classification and penalties. 
 
S/C/N/583 Togo 27.05.11 Ministry of Tourism Decree No. 89-137/PR of 23 August 1989 regulating and classifying tourism establish ments, in particular with 
regard to accreditation, gradin g, and operating regulations. 
 
S/C/N/582 Togo 27.05.11 Ministry of Tourism Order No. 003/MET of 26 July 1990 establishing the standards and procedure for the classification of tourism 
establishments: hotels, guesthouses and motels. 
 
S/C/N/581 Togo 27.05.11 Ministry of Tourism Order No. 002/MET of 27 June 1990 on restaurant rating 
 
S/C/N/580 Togo 27.05.11 Ministry of Tourism Decree No. 89-139/PR of 23 August 1989 regulating travel  agencies, in particular with regard to corporate 
purpose, operating permits and operating procedures 
 
S/C/N/29 United 
Arab Emirates 25.10.96  The United Arab Emirates has not introduced any new, or any changes to the existing laws, regulations or 
administrative rules which significantly affect trade in services covered by its specific commitments under the GATS.  
S/C/N/85 United 
Kingdom 30.11.98  The United Kingdom has notified that in 1997 it did not introduce any new, or any changes to existing laws, 
regulations or administrative guidelines which significantly affect trade in services covered by its specific 
commitments under the General Ag reement for Trade in Services 
 
S/C/N/569 United 
States of America 29.09.10 Various federal 
agencies of the United States, including the Department of the Treasury and the Mode of supply covered by the measures: 
Mode (3) – Commercial presence 
Mode (2) – Consumption abroad The effect on trade in services and the impact of the measures on commitments in the Member's schedule: The Dodd-Frank Act modifies the regu latory framework relating to financ ial services with regard to the 
identification and supervision of large, interrelated financial organizations that may affect the stability of the  
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Office of the 
Comptroller of the Currency, the Board 
of Governors of the 
Federal Reserve System, the Federal Deposit Insurance Corporation, the Commodity and Futures Commission, and the Securities and Exchange Commission, as well as U.S. state regulators.  United States’ financial system. Additionally, the Act limits certain activities of banking organizations, creates 
a new Bureau of Consumer Financial Protection, modernizes the regulation of financial sector participants and products, and reforms the financial intermediary resolution process. 
 
S/C/N/121 United 
States of 
America 06.06.00 Various federal 
agencies of the United 
States, including the 
Department of the 
Treasury and the 
Office of the 
Comptroller of the 
Currency, the Board 
of Governors of the 
Federal Reserve 
System, and the 
Securities and 
Exchange 
Commission, as well 
as US state 
regulators. 
 (a) Mode of supply covered by the measures: 
 Mode (3) – Commercial presence 
(b) The effect on trade in services and the impact of the measures on commitments in the Member's 
schedule: 
 The Gramm-Leach-Bliley Act modifies the regulatory framework relating to trade in financial services 
by permitting domestic and foreign banking institutions to become financial holding companies that 
can offer banking, securities, insurance, and other financial products. It specifically repeals older 
provisions of law that restricted affiliations between banks and securities firms and insurance 
underwriters. The new law also reflects the principle of  functional regulation, so that banking activities 
are regulated by banking regulators , securities activities by securities regulator, and insurance 
activities by insurance regulators. 
 
S/C/N/308 Uruguay 17.11.04 Central Bank of 
Uruguay (BCU) It regulates close-end funds by am ending Law 16.774, the transfer of funds to such trust funds and the 
factoring.  
S/C/N/307 Uruguay 17.11.04 Central Bank of 
Uruguay (BCU) It includes the reinforcemen t of the BCU's powers as banking supervis or (with powers that now extend to the 
whole economic group of which the enti ty of the financial system forms pa rt and to third-party services) and 
the strengthening of measures to be adopted in the case of irregularities by those operating within the 
system, together with some regulations relating to financial intermediaries whose activities are suspended at 
that date and to the creation of a Bank Deposit Guarantee Fund. 
 
S/C/N/306 Uruguay 17.11.04 Central Bank of 
Uruguay (BCU) To regulate trusts as assets held in trust (trust prop erty) to be used for various purposes (broad objective) 
and, more specifically, professional and financial trusts subject to the supervision of the BCU.  
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S/C/N/54 Uruguay 02.04.97 Central Bank of 
Uruguay Law 16.696 describes the legal nature, purposes, powers, f unctions and, organization of the Central Bank of 
Uruguay, and the policy to be applied by the latter. 
Decree 467/995 reduces by 25 per cent the rates of the banking institutions assets tax applicable to savings 
and loan coopeatives operating in Uruguay. 
Decree 75/996 empowers the Central Bank  of Uruguay to control, by time-periods, the rate of the banking 
institutions assets tax under Law 16.736. 
 
 
 
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