Common use of Changes to legislation Clause in Contracts

Changes to legislation. If, after the signing of this Contract, there is any change in existing laws, regulations, rules or policies (a "Change") or any new laws, regulations, rules or policies are introduced (a "New Provision") in the PRC which is applicable to the Joint Venture, or to the activities of any Party in relation to matters dealt with herein, and the effect of the Change or New Provision is either to provide for preferential treatment to or, conversely, to have an adverse effect on the Joint Venture or any of the Parties then: (a) if the Change or the New Provision is more favourable to the Joint Venture or one of the parties than the relevant laws, acts, rules or regulations in effect on the date this Contract was signed (and the other Parties are not materially and adversely affected thereby), the Joint Venture and the Party concerned shall promptly apply to receive the benefits of such Change or New Provision. All of the Parties shall use their best efforts to cause such application to be approved by the relevant Government authorities; and (b) if, because of the Change or New Provision, the economic benefits to any Party or the Joint Venture existing or to arise under this Contract are materially and adversely affected, directly or indirectly, then, in accordance with the provisions of Article 40 of the Law of the People's Republic of China on Foreign Economic Contracts, this Contract shall continue to be implemented in accordance with its original terms. If, for any reason the provision in the preceding sentence cannot be implemented, upon notice by the affected Party to the other Parties, the Parties shall consult promptly and make all such amendments to this Contract and any other related documentation as are required to maintain or preserve the economic benefits of the affected Party or the Joint Venture hereunder, provided, however, that the Parties other than the affected Party are not materially and adversely affected thereby.

Changes to legislation. If, after the signing of this Contract, there is any change in existing laws, regulations, rules or policies (a "ChangeCHANGE") or any new laws, regulations, rules or policies are introduced (a "New ProvisionNEW PROVISION") in the PRC which is applicable to the Joint Venture, or to the activities of any Party in relation to matters dealt with herein, and the effect of the Change or New Provision is either to provide for preferential treatment to or, conversely, to have an adverse effect on the Joint Venture or any of the Parties then: (a) if the Change or the New Provision is more favourable to the Joint Venture or one of the parties than the relevant laws, acts, rules or regulations in effect on the date this Contract was signed (and the other Parties are not materially and adversely affected thereby), the Joint Venture and the Party concerned shall promptly apply to receive the benefits of such Change or New Provision. All of the Parties shall use their best efforts to cause such application to be approved by the relevant Government authorities; and (b) if, because of the Change or New Provision, the economic benefits to any Party or the Joint Venture existing or to arise under this Contract are materially and adversely affected, directly or indirectly, then, in accordance with the provisions of Article 40 of the Law of the People's Republic of China on Foreign Economic Contracts, this Contract shall continue to be implemented in accordance with its original terms. If, for any reason the provision in the preceding sentence cannot be implemented, upon notice by the affected Party to the other Parties, the Parties shall consult promptly and make all such amendments to this Contract and any other related documentation as are required to maintain or preserve the economic benefits of the affected Party or the Joint Venture hereunder, provided, however, that the Parties other than the affected Party are not materially and adversely affected thereby.