Anthony Sinclair

Fees and Expenses

Victory Capital Management Inc., (the “Adviser”) has agreed that no performance adjustment (positive or negative) will be made to the amount payable to Victory Capital from July 1, 2019, through June 30, 2020. Thereafter, the management fee may fluctuate based on the Fund’s performance relative to a securities market index. See Fund Management section for a description of the performance adjustment fee.

The ICSID Convention: A Commentary: Immunities and Privileges of Centre

In the First Draft, the text of what later became Art. 19 was still attached to the general statement that the Centre shall have international legal personality (History, Vol. II, p. 619) and was evidently meant as an explanation and elaboration of the general statement on legal personality. Later, a list of specific legal capacities, previously contained in a separate Article, was attached to the general statement on legal personality and capacity (see Art. 18, para. 2) to form what subsequently became Art. 18. As a consequence, the text of what became Art. 19 was put into a separate Article (History, Vol. I, p. 92). The legal relevance of this Article was not clarified in the discussions which barely touched upon it (History, Vol. II, pp. 739, 740, 743). As it stands, Art. 19 is no more than a general introduction to the subsequent Articles. The Section referred to covers Arts. 18–24. The statement “to enable the Centre to fulfil its functions” may help to establish the exact extent of the immunities and privileges set out in the Convention. But the travaux preparatoires contain no indication that immunities and privileges that do not serve the Centres functions should be denied or interpreted restrictively.

Panels of Conciliators and Arbitrators

Art. 3 of the Convention states that the Centre shall maintain a Panel of Conciliators and a Panel of Arbitrators. Section 4 of the Conventions Chapter I is headed “The Panels”. It consists of Arts. 12–16 and deals with the designation of Panel members, their qualities, their periods of service, the relationship of the two Panels to each other and notification requirements. The drafts leading to the Convention all contained provisions substantively similar to what eventually became Art. 12 (History, Vol. I, pp. 66, 68). The idea was based on Art. 44 of the Hague Convention for the Pacific Settlement of International Disputes of 1907 establishing the Permanent Court of Arbitration (History, Vol. II, p. 145). Arts. 12–16 of the Convention bear some resemblance to that provision. During the Conventions drafting, the creation of Panels of Conciliators and Arbitrators was never cast into doubt (History, Vol. II, pp. 107, 110, 143, 145, 486/7, 753). But there were extensive debates on the Chairmans right to designate members of Panels (see Art. 13, para 4), the number of persons to be designated (see Art. 13, paras. 1, 4), the qualifications of Panel members (see Art. 14, paras. 2, 3, 5, 9–11), the periods of service on the Panels (see Art. 15, paras. 2, 3, 5, 6) and some modalities of appointment (see Art. 16, paras. 2, 3, 5).

The ICSID Convention: A Commentary: Contents

1. International centre for settlement of investment disputes 2. Jurisdiction of the centre 3. Conciliation 4. Arbitration 5. Replacement and disqualification of conciliators and arbitrators 6. Cost of proceedings 7. Place of proceedings 8. Disputes between contracting states 9. Amendments 10. Final provisions.

The ICSID Convention: A Commentary: Table of cases

1. International centre for settlement of investment disputes 2. Jurisdiction of the centre 3. Conciliation 4. Arbitration 5. Replacement and disqualification of conciliators and arbitrators 6. Cost of proceedings 7. Place of proceedings 8. Disputes between contracting states 9. Amendments 10. Final provisions.

The ICSID Convention: A Commentary: Index by article

1. International centre for settlement of investment disputes 2. Jurisdiction of the centre 3. Conciliation 4. Arbitration 5. Replacement and disqualification of conciliators and arbitrators 6. Cost of proceedings 7. Place of proceedings 8. Disputes between contracting states 9. Amendments 10. Final provisions.

The ICSID Convention by Christoph H. Schreuer

1. International centre for settlement of investment disputes 2. Jurisdiction of the centre 3. Conciliation 4. Arbitration 5. Replacement and disqualification of conciliators and arbitrators 6. Cost of proceedings 7. Place of proceedings 8. Disputes between contracting states 9. Amendments 10. Final provisions.