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Segoin, Daniel; Legrand, Ludovic --- "Amendment" [2019] ELECD 3026; in Fouret, Julien; Gerbay, Remy; Alvarez, M. Gloria (eds), "The ICSID Convention, Regulations and Rules" (Edward Elgar Publishing, 2019) 858

Book Title: The ICSID Convention, Regulations and Rules

Editor(s): Fouret, Julien; Gerbay, Rémy; Alvarez, M. Gloria

Publisher: Edward Elgar Publishing

Section: Chapter 9

Section Title: Amendment

Author(s): Segoin, Daniel; Legrand, Ludovic

Number of pages: 10

Extract:

9
AMENDMENT
Daniel Segoin and Ludovic Legrand




ARTICLE 65

Any Contracting State may propose amendment of this Convention. The text of
a proposed amendment shall be communicated to the Secretary-General not less
than 90 days prior to the meeting of the Administrative Council at which such
amendment is to be considered and shall forthwith be transmitted by him to all the
members of the Administrative Council.




ARTICLE 66

(1) If the Administrative Council shall so decide by a majority of two-thirds of its
members, the proposed amendment shall be circulated to all Contracting States
for ratification, acceptance or approval. Each amendment shall enter into force
30 days after dispatch by the depositary of this Convention of a notification to
Contracting States that all Contracting States have ratified, accepted or ap-
proved the amendment.
(2) No amendment shall affect the rights and obligations under this Convention
of any Contracting State or of any of its constituent subdivisions or agencies,
or of any national of such State arising out of consent to the jurisdiction of the
Centre given before the date of entry into force of the amendment.



1. GENERAL

9.01 For at least a decade, investment arbitration has been said to be in a state of crisis.1
Criticisms that used to be embraced by a limited number of persons are now fuelling a


1 See in this respect among others Susan D. Franck, `The Legitimacy Crisis in Investment Treaty Arbitration: Privatizing
Public International Law Through Inconsistent Decisions' ( ...