OECD Code of Liberalisation of Capital Movements
OECD Publishing, July 2011, Pages: 180
For half a century, the OECD Code of Liberalisation of Capital Movements has provided a balanced framework for capital account openness. This new edition of the Code presents the full text of the Code, setting out the rights and obligations of adhering countries. It also shows how far each of the 34 adhering countries is open to international capital movements, as of March 2011.
Preamble
Part I. Undertakings with Regard to Capital Movements
Article 1. General undertakings
Article 2. Measures of liberalisation
Article 3. Public order and security
Article 4. Obligations in existing multilateral international agreements
Article 5. Controls and formalities
Article 6. Execution of transfers
Article 7. Clauses of derogation
Article 8. Right to benefit from measures of liberalisation
Article 9. Non-discrimination
Article 10. Exceptions to the principle of non-discrimination: Special customs or monetary systems
Part II. Procedure
Article 11 Notification and information from members.
Article 12 Notification and examination of reservations lodged under article 2(b)
Article 13 Notification and examination of derogations made
under article 7
Article 14. Examination of derogations made under article 7: Members in process of economic development
Article 15. Special report and examination concerning derogations made under article 7
Article 16. Reference to the Organisation - Internal arrangements
Article 17. Reference to the Organisation - Retention, introduction or reintroduction of restrictions
Part III Terms of Reference
Article 18. Investment Committee - General tasks
Article 19. Investment Committee - Special tasks
Part IV Miscellaneous
Article 20. Definitions
Article 21. Title of decision
Article 22. Withdrawal
Annex A. Liberalisation Lists of Capital Movements
List A, B
Notes and references to Annex A
Annex B. Reservations to the Code of Liberalisation of Capital Movements
Australia - United States
Annex C. Decision of the Council Regarding the Application of the Provisions of the Code of Liberalisation of Capital Movements to Action Taken by the States of the United States
Annex D. General List of International Capital Movements and Certain Related Operations
Notes to Annex D
Annex E. Decision of the Council Regarding Measures and Practices Concerning Reciprocity and/or Involving Discrimination among Investors Originating in Various Member Countries in the Area of Inward Direct Investment and Establishment
List of Council Acts included in the Present Edition of the Code
Bibliography
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