Sovereign immunity: Difference between revisions
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The [[Sovereign Immunity Act 1978]] | The [[Sovereign Immunity Act 1978]], which provides (among other things) that a State is not immune as respects proceedings relating to a commercial transaction entered into by the State; or an obligation of the State which by virtue of a contract (whether a commercial transaction or not) falls to be performed wholly or partly in the United Kingdom. | ||
The parties are able to contract out of this in writing. | |||
It's a bit nuanced, but not much. This doesn't stop industry standard legal agreements purporting to waive immunity, which actually creates an issue where otherwise there would not be one, an a [[what the eye don't see the chef gets away with]] sort of basis. | |||
If you purport to waive, and the sovereign says NO, then you've agreed not to waive, thereby doing yourself out of the exemption, which the parties can contract out of. | |||
{{Seealso}} | {{Seealso}} | ||
*{{isdaprov|Waiver of immunities}} | *{{isdaprov|Waiver of immunities}} - {{tag|ISDA}} | ||
*{{cdeaprov|Waiver of Immunities}} | *{{cdeaprov|Waiver of Immunities}} - {{tag|CDEA}} | ||
*{{gmslaprov|Waiver of Immunity}} | *{{gmslaprov|Waiver of Immunity}} - {{tag|GMSLA}} | ||
*{{gmraprov|Waiver of Immunity}} | *{{gmraprov|Waiver of Immunity}} - {{tag|GMRA}} | ||
Revision as of 15:25, 21 December 2017
The Sovereign Immunity Act 1978, which provides (among other things) that a State is not immune as respects proceedings relating to a commercial transaction entered into by the State; or an obligation of the State which by virtue of a contract (whether a commercial transaction or not) falls to be performed wholly or partly in the United Kingdom.
The parties are able to contract out of this in writing.
It's a bit nuanced, but not much. This doesn't stop industry standard legal agreements purporting to waive immunity, which actually creates an issue where otherwise there would not be one, an a what the eye don't see the chef gets away with sort of basis.
If you purport to waive, and the sovereign says NO, then you've agreed not to waive, thereby doing yourself out of the exemption, which the parties can contract out of.