WORLD TRADE S/C/N/43
24March 1997
ORGANIZATION(97-1180)
Original: English Council forTrade inServices
NOTIFICATION PURSUANT TOARTICLE VII.4 OFTHE GENERAL
AGREEMENT ONTRADE INSERVICES
Thefollowing notification hasbeenreceived from theEuropean Commission.
________________
1. Member notifying:
European Communities andtheirMember States
2. Notification under Article:
GATS Article VII,paragraph 4(Recognition)
3. Date ofentry intoforce:
1January 1993
Duration:
Denunciation byeachContracting Party ispossible atanytime; theAgreement shallcease
tobeinforce 12months afterthedateofsuchnotification.
4. Agency responsible forenforcement ofthemeasure:
Competent authorities ofMember States.
5. Complete description ofthemeasure:
Measure
Agreement between theEuropean Economic Community andtheSwiss Confederation ondirect
insurance other thanlifeinsurance signed on10October 1989.
./.S/C/N/43
Page2
Description
Theobject oftheAgreement istolaydown, onareciprocal basis, theconditions which are
necessary andsufficient toenable agencies andbranches ofundertakings whose headoffice
wishtobecome established intheterritory oftheother Contracting Party, orareestablished
there, totakeuporpursue theself-employed activity ofdirect insurance other thanlife
assurance.
Themostimportant measure allowing forthegranting ofauthorisation relate tothereciprocal
recognition ofeachother'sevidence relating tothesolvency ofinsurance companies having
theirheadoffice intheterritory ofoneoftheContracting Parties andasaresult theauthorisation
isnotmade subject tothelodging ofadeposit ortheprovision ofasecurity.
6. Members specifically affected, ifany:
None
7. Textavailable from:
WTO Secretariat
Official Journal oftheEuropean Communities No.L205of27July1991.