Report No. 260

(ii) Suggested draft:

5.2 The determination of whether a Measure or a series of Measures have an effect equivalent to expropriation requires a case-by-case, fact-based inquiry, and usually requires evidence that there has been:

(i) permanent and complete or near complete deprivation of the value of Investment; or

(ii) permanent and complete or near complete deprivation of the Investor's right of management and control over the Investment.