Energy Charter Treaty

42 (b) ability to exercise substantial influence over the management and operation of the Investment; and (c) ability to exercise substantial influence over the selection of members of the board of directors or any other managing body. Where there is doubt as to whether an Investor controls, directly or indirectly, an Investment, an Investor claiming such control has the burden of proof that such control exists.] 18 [DECLARATION With respect to Article 1(6) The Russian Federation wishes to have reconsidered, in negotiations with regard to the supplementary treaty referred to in Article 10(4), the question of the importance of national legislation with respect to the issue of control as expressed in the Understanding to Article 1(6).] 19 (7) “Investor” means: (a) with respect to a Contracting Party: (i) a natural person having the citizenship or nationality of or who is permanently residing in that Contracting Party in accordance with its applicable law; (ii) a company or other organisation organised in accordance with the law applicable in that Contracting Party; (b) with respect to a “third state”, a natural person, company or other organisation which fulfils, mutatis mutandis , the conditions specified in subparagraph (a) for a Contracting Party. (8) “Make Investments” or “Making of Investments” means establishing new Investments, acquiring all or part of existing Investments or moving into different fields of Investment activity. [UNDERSTANDING With respect to Article 1(8) Consistent with Australia’s foreign investment policy, the establishment of a new mining or raw materials processing project in Australia with total investment of $A 10 million or more by a foreign interest, even where that foreign interest is already operating a similar business in Australia, is considered as the making of a new investment.] 20 18 Final Act of the European Energy Charter Conference, Understanding 3. 19 Id, Declaration 1. 20 Id, Understanding 4.