Moved by
Lord Hendy
17: Clause 2, page 2, line 23, at end insert—
“( ) Regulations under subsection (1) may make provision for the purpose of implementing an international trade agreement only if the international trade agreement does not contain any form of investor-state dispute settlement mechanism applicable to any part of the United Kingdom in relation to a claim brought by a foreign investor against a United Kingdom public authority except to the extent that—
(a) the laws of the United Kingdom administered in the courts and tribunals of the United Kingdom so provide, and
(b) a person (whether or not an investor) domiciled in the United Kingdom has equal protection under those laws and equal access to redress for any such claim in those courts and tribunals.
( ) In this section “public authority” includes the Crown, Parliament, an appropriate authority as defined in section 4(1), a local authority, and any person who has functions which include functions of a public nature.”
Member’s explanatory statement
This amendment would preclude the subjection of acts and decisions of UK public bodies to claims for compensation by foreign investors under ISDS or other multilateral investment courts or tribunals. It would not preclude a foreign investor relying on UK domestic law or the UK’s judicial system.