RESTRICTED
WORLD TRADE S/C/W/6
21July1995
ORGANIZATION
(95-2123)
Council forTrade inServices
-DRAFT -
DECISION ONCOMMITMENTS INFINANCIAL SERVICES
TheCouncil forTrade inServices,
HavingregardtotheSecondAnnexonFinancialServices,andtheSecondProtocoltotheGeneral
Agreement onTrade inServices,
Having regard totheDecision ontheApplication oftheSecond Annex onFinancial Services
adopted bytheCouncil forTrade inServices on30June1995,
Noting theresults ofthenegotiations carried outunder theterms oftheDecision onFinancial
Services adopted atMarrakesh on15April 1994,
Decides asfollows:
1. IftheSecond Protocol totheGeneral Agreement onTrade inServices (GATS) doesnotenter
intoforce inaccordance withparagraph 3therein:
(a) Notwithstanding Article XXIoftheGATS, aMember mayduring aperiod ofsixty
daysbeginning on1August 1996, modify orwithdraw allorpartoftheSpecific
Commitments onFinancial services inscribed initsSchedule.
(b) Notwithstanding Article IIoftheGATS andparagraphs 1and2oftheAnnex on
Article IIExemptions, aMember may, during thesame period referred toin
paragraph 1,listinthatAnnex measures relating tofinancial services which are
inconsistent withparagraph 1ofArticle IIoftheGATS.
2. TheCommittee onTrade inFinancial Services shallestablish anyprocedures necessary for
theimplementation ofparagraph 1.