LAW OF THE KYRGYZ REPUBLIC

of August 9, 2022 No. 90

About modification of some legal acts of the Kyrgyz Republic (in the laws of the Kyrgyz Republic "About investments in the Kyrgyz Republic", "About reference tribunals in the Kyrgyz Republic")

Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 30, 2022

Article 1.

Bring in the Law of the Kyrgyz Republic "About investments in the Kyrgyz Republic" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2003, No. 7, the Art. 252) the following changes:

in Article 18:

a) in Item 2 of the word "one of the parties does not ask to consider dispute" the decision on consideration of dispute is not made shall be replaced with words "according to the written agreement of the parties";

b) declare Item 3 invalid.

Article 2.

Bring in the Law of the Kyrgyz Republic "About reference tribunals in the Kyrgyz Republic" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2002, No. 10, the Art. 436) the following changes:

in Article 46:

a) state part one in the following edition:

"In case of absence in the contract between the foreign investor and the Kyrgyz Republic of the arbitration agreement the foreign investor has the right to initiate arbitration for the dispute resolution. In this case the foreign investor has the right according to the procedure, the stipulated in Clause 18 Laws of the Kyrgyz Republic "About investments in the Kyrgyz Republic", to choose for consideration of dispute of any of the bodies specified in this Article.";

b) in word part four", it is also considered that the Kyrgyz Republic agreed to transfer of dispute for consideration of reference tribunal" to exclude.

Article 3.

This Law becomes effective after seven days from the date of official publication.

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