The agreement aims to terminate some 130 intra-EU BPTs (Annex A) and their forfeiture clauses and states that they cannot serve as a legal basis for arbitration (Article 2). It also terminates the expiry clauses of the NTBs already denounced (Annex B) and deprives them of legal effect (Article 3). Following the ratification and provisional application of Denmark and Hungary by the Slovak Republic (8 June 2020) and Spain (11 August 2020), only five intra-EU EDPs ended on 10 September 2020. CONSIDERING that this Agreement concerns bilateral investment agreements within the EU and does not apply to procedures within the EU on the basis of Article 26 of the Energy Charter Treaty. The European Union and its Member States will address this issue at a later stage, 3. With a view to improvement, this Article constitutes a special agreement between the Contracting Parties within the meaning of Article 273 of the Treaty on the Functioning of the European Union. Instead, the repeal agreement provides that Member States will address this issue at a later stage, probably as part of the ongoing modernisation process of the ECT. Sunset clauses are provisions that protect investments made prior to the termination of the ILO concerned for a specified period, usually for an additional period of 10 to 20 years after termination. The purpose of sunset clauses is to protect the legal expectations of investors who have made their investments due to the existence of CES. This repeal agreement marks the culmination of efforts by the European Commission and several Member States over the past decade to remove intra-EU investment arbitrations from the European legal order. While the text of the cancellation agreement has not yet been officially published, a draft treaty has been leaked and will be used for the following analysis. .

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