Report No. 260
(ii) Suggested draft:
20.1 The benefits of this Treaty will not extend to:-
(i) an Investment or Investor owned or controlled, directly or indirectly, by persons of a non-Party or of the Host State; or
(ii) an Investment or Investor, if persons of a non-Party own or control, directly or indirectly, such Investment or Investor and the Host State:
a. does not maintain diplomatic relations with such non-Party; or
b. adopts or maintains measures with respect to such non-Party that prohibit transactions with the Investor or that would be violated or circumvented if the benefits of this Treaty were accorded to the Investor or Investment.
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