NEW FINANCIAL. XXXXXXXX0 Each Party shall permit a financial institution of the other Party to supply any new financial service that the Party would permit its own financial institutions, in like 1 This subparagraph shall not cover measures of a Party which limit inputs for the supply of financial services. 2 The Parties understand that nothing in this Article prevents a financial institution of a Party from applying to the other Party to request that it authorize the supply of a financial service that is supplied in neither Party's territory. Such application shall be subject to the law of the Party to which the application is made and, for greater certainty, shall not be subject to the obligations of this Article. 11-3 circumstances, to supply without additional legislative action by the Party. Notwithstanding Article 11.4(b), a Party may determine the institutional and juridical form through which the new financial service may be supplied and may require authorization for the supply of the service. Where a Party requires a financial institution to obtain authorization to supply a new financial service, the Party shall decide within a reasonable time whether to issue the authorization and the authorization may be refused only for prudential reasons.
Appears in 10 contracts
Samples: Trade Agreement, Trade Agreement, Trade Agreement
