Protection of Investment Act approved

The "Protection of Investment Act" was approved by the President on 13 December 2015. It replaces lapsed bilateral investment treaties. Further, it provides that "Existing investments that were made under such treaties will continue to be protected for the period and terms stipulated in the treaties. Any investments made after the termination of a treaty, but before promulgation of this Act, will be governed by the general South African law." It also provides that "the government may consent to international arbitration in respect of investments covered by the Act, subject to the exhaustion of domestic remedies." However, such "arbitration will be conducted between the Republic and the home state of the applicable investor."

• Type:

  • Treatment and operation (Dispute settlement, Other)

• Industry:

  • Not industry specific

• Sources:

  • Government of South Africa, Protection of Investment Act 22 of 2015, http://www.gov.za/sites/www.gov.za/files/39514_Act22of2015ProtectionOfInvestmentAct.pdf, 15 Dec 2015
  • Bloomberg, South African Lawmakers Approve Foreign Investment Bill , http://www.bloomberg.com/news/articles/2015-11-17/south-african-lawmakers-approve-foreign-investment-bill, 17 Nov 2016