Recognition and Harmonization Sample Clauses
Recognition and Harmonization. 1. In applying the measures covered by this Chapter, a Party may recognize the prudential measures of another Party or a non-Party. Such recognition may be granted unilaterally, achieved through harmonization or other means, or on the basis of an agreement or arrangement with the other Party or the non-Party.
2. A Party granting recognition of prudential measures pursuant to paragraph 1 shall provide appropriate opportunities for any other Party to demonstrate that circumstances exist whereby there are or will be equivalent regulations, supervision and enforcement of the regulation, and, if appropriate, procedures for sharing information between the Parties.
3. Where a Party grants recognition of prudential measures in accordance with paragraph 1 and the circumstances set out in paragraph 2 exist, the Party shall provide adequate opportunity for another Party to negotiate accession to the agreement or arrangement, or to negotiate a similar agreement or arrangement.
Recognition and Harmonization. In applying measures under this chapter, each party may recognize prudential measures of the other party or of a country that is not a party. such recognition may be:
Recognition and Harmonization. 1. In applying the measures covered by this Chapter, a Party may recognize the prudential measures of another Party or of a non-Party. Such recognition may be:
a) unilaterally granted;
b) achieved through harmonization or other means; or
c) granted on the basis of an agreement or arrangement with another Party or a non-Party.
2. A Party granting recognition of prudential measures pursuant to paragraph 1 shall provide appropriate opportunities for any other Party to demonstrate that there are circumstances under which equivalent regulations exist or will exist, supervision and enforcement of the regulation and, if appropriate, procedures for sharing information between the Parties.
3. Where a Party grants recognition of prudential measures in accordance with paragraph 1 and the circumstances set out in paragraph 2 exist, that Party shall provide adequate opportunity for another Party to negotiate accession to the agreement or arrangement, or to negotiate a similar agreement or arrangement.