Title:Annex VII 
Author: White House
Document-Date: 29 Sept 1993
Content-Type: text/plain; CHARSET=US-ASCII
Content-Length:6493
  
 
 
 
 
 
                                       Annex VII 
 
            1.   Section A of the Schedule of a Party sets out the 
            reservations taken by that Party, pursuant to Article 1409(1) 
            (Financial Services), with respect to existing measures that do 
            not conform with obligations imposed by: 
 
                 (a)  Article 1403 (Establishment of Financial 
                      Institutions); 
 
                 (b)  Article 1404 (Cross-Border Trade); 
 
                 (c)  Article 1405 (National Treatment); 
 
                 (d)  Article 1406 (Most-Favored-Nation Treatment); 
 
                 (e)  Article 1407 (New Financial Services and Data 
                      Processing); or 
 
                 (f)  Article 1408 (Senior Management and Boards of 
                      Directors). 
 
            2.   Each reservation in Section A sets out the following 
            elements: 
 
                 (a)  Sector refers to the general sector in which the 
                      reservation is taken; 
 
                 (b)  Sub-Sector refers to the specific sector in which the 
                      reservation is taken; 
 
                 (c)  Industry Classification refers, where applicable, to 
                      the activity covered by the reservation according to 
                      domestic industry classification codes; 
 
                 (d)  Type of Reservation specifies the obligation referred 
                      to in paragraph 1 for which the reservation is taken; 
 
                 (e)  Level of Government indicates the level of government 
                      maintaining the measure for which the reservation is 
                      taken; 
 
                 (f)  Measures identifies the laws, regulations or other 
                      measures, as qualified by the Description element, 
                      for which the reservation is taken.  A measure cited 
                      in the Measures element 
 
                      (i)  means the measure as amended, continued or 
                           renewed as of the date of entry into force of 
                           this Agreement, and 
 
 
 
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                      (ii) includes any subordinate measure adopted or 
                           maintained under the authority of and consistent 
                           with the measure; 
 
                 (g)  Description sets out references, if any, for 
                      liberalization on the date of entry into force of 
                      this Agreement pursuant to other sections of a 
                      Party's Schedule to this Annex, and the remaining 
                      non-conforming aspects of the existing measures for 
                      which the reservation is taken; and 
 
                 (h)  Phase-Out sets out commitments, if any, for 
                      liberalization after the date of entry into force of 
                      this Agreement. 
 
            3.   In the interpretation of a reservation, all elements of 
            the reservation shall be considered.  A reservation shall be 
            interpreted in the light of the relevant provisions of the 
            Chapter against which the reservation is taken.  To the extent 
            that: 
 
                 (a)  the Phase-Out element provides for the phasing out of 
                      the non-conforming aspects of measures, the Phase-Out 
                      element shall prevail over all other elements; 
 
                 (b)  the Measures element is qualified by a specific 
                      reference in the Description element, the Measures 
                      element as so qualified shall prevail over all other 
                      elements; and  
 
                 (c)  the Measures element is not so qualified, the 
                      Measures element shall prevail over all other 
                      elements, unless any discrepancy between the Measures 
                      element and the other elements considered in their 
                      totality is so substantial and material that it would 
                      be unreasonable to conclude that the Measures element 
                      should prevail, in which case the other elements 
                      shall prevail to the extent of that discrepancy. 
 
            4.   Section B of the Schedule of a Party sets out reservations 
            taken by the Party, pursuant to Article 1409(2), for measures 
            the Party may adopt or maintain that do not conform with 
            obligations imposed by Article 1403, 1404, 1405, 1406, 1407 or 
            1408. 
 
            5.   Section C of the Schedule of a Party sets out the 
            commitments to liberalize measures undertaken by that Party 
            pursuant to Article 1409(3).   
 
            6.   For purposes of this Annex: 
 
 
 
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                                                                  Annex VII                                                 
                 _________ 
 
            CMAP means Clasificaci n Mexicana de Actividades y Productos 
            (CMAP) numbers as set out in Instituto Nacional de Estad stica, 
            Geograf a e Inform tica, Clasificaci n Mexicana de Actividades 
            y Productos, 1988; 
 
            CPC means Central Product Classification (CPC) numbers as set 
            out in Statistical Office of the United Nations, Statistical 
            Papers, Series M, No. 77, Provisional Central Product 
            Classification, 1991; and 
 
            SIC means: 
 
                 (a)  with respect to Canada, Standard Industrial 
                      Classification (SIC) number as set out in Statistics 
                      Canada, Standard Industrial Classification, fourth 
                      edition, 1980; and 
 
                 (b)  with respect to the United States, Standards 
                      Industrial Classification (SIC) numbers as set out in 
                      the United States Office of Management and Budget, 
                      Standard Industrial Classification Manual, 1987. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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