'File 39/2 (1 B/8) Effect of abrogation of APOC concession by Persian Government on oil market in Bahrain' [‎35r] (69/80)

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(b) During the whole of the period preceding the last ten years of the
Concession, the Company shall not alienate any land obtained by it gratuitously
from the Government; it shall not export from Persia any movable property except
in the case when such property shall have become unutilisable or shall be no longer
necessary for the operations of the Company in Persia.
(II) At the end of the Concession, whether by expiration of time or otherwise,
all the property of the Company in Persia shall become the property of the Govern
ment in proper working order and free of any expenses and of any encumbrances.
(III) The expression “all the property” comprises all the lands, buildings
and workshops, constructions, wells, jetties, roads, pipe-lines, bridges, drainage
and water supply systems, engines, installations and equipments (including tools)
of any sort, all means of transport and communication in Persia (including, for
example, automobiles, carriages, aeroplanes), any stocks and any other objects in
Persia which the Company is utilising in any manner whatsoever for the objects
of the Concession.
Article 21 .
The contracting parties declare that they base the performance of the present
agreement on principles of mutual goodwill and good faith as well as or a reason
able interpretation of this Agreement.
The Company formally undertakes to have regard at all times and in all
places to the rights, privileges and interests of the Government and shall abstain
from any action or omission which might be prejudicial to them.
This Concession shall not be annulled by the Government and the terms
therein contained shall not be altered either by general or special legislation in the
future, or by administrative measures or any other acts whatever of the executive
authorities.
Article 22.
(a) Any differences between the parties of any nature whatever and in
particular any differences arising out of the interpretation of this Agreement
and of the rights and obligations therein contained as well as any differences of
opinion which may arise relative to questions for the settlement of which, by the
terms of this Agreement, the agreement of both parties is necessary, shall be
settled by arbitration.
(b) The party which requests arbitration shall so notify the other party in
writing. Each of the parties shall designate an arbitrator, and the two arbitra
tors, before proceeding to arbitration, shall appoint an umpire. If the two
arbitrators cannot, within two months, agree on the person of the umpire, the latter
shall be nominated, at the request of either of the parties, by the President of
the Permanent Court of International Justice. If the President of the Permanent
Court of International Justice belongs to a nationality or a country which, in
accordance with clause (c) is not qualified to furnish the umpire, the nomination
shall be made by the Vice-President of the said Court.
(c) The umpire shall be of a nationality other than Persian or British;
furthermore, he shall not be closely connected with Persia or with Great Britain
as belonging to a dominion, a protectorate, a colony, a mandated country or other
country administered or occupied by one of the two countries above mentioned or
as being or having been in the service of one of these countries.
(d) If one of the parties does not appoint its arbitrator or does not advise
the other party of its appointment within sixty days of having received notification
of the request for arbitration, the other party shall have the right to request
the President of the Permanent Court of International Justice (or the Vice-
President in the case provided at the end of clause (b)) to nominate a sole
arbitrator, to be chosen from among persons qualified as above mentioned, and in
this case the difference shall be settled by this sole arbitrator.
(e) The procedure of arbitration shall be that followed, at the time of arbitra
tion, by the Permanent Court of International Justice. The place and time of
arbitration shall be fixed by the umpire or the sole arbitrator provided for in
clause (d), as the case may be.
(/) The award shall be based on the juridical principles contained in
article 38 of the Statutes of the Permanent Court of International Justice. There
shall be no appeal against the award.
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