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Posted By: rajesh Member Level: Gold Posted Date: 29 Apr 2008
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2007 ICSE World Trade Organization Question paper
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2/2007/WTOITJVFC P. T. O.
: 1 : 337
Roll No..........................
Time allowed : 3 hours Maximum marks : 100
Total number of questions : 8 Total number of printed pages : 3
NOTE : Answer SIX questions including Question No.1 which is compulsory.
1. Write notes on any four of the following :
(i) Evolution of World Trade Organisation (WTO)
(ii) Association of South-East Asian Nations (ASEAN)
(iii) Dispute Settlement System (DSS) — rule-based or justice-based
(iv) Treaty of Amity and Cooperation (TAC)
(v) United Nations Commission on Intellectual Trade Law (UNICITRAL).
(5 marks each)
2. (a) Enumerate the basic principles of the ‘general agreement on trade in services’ (GATS).
(4 marks)
(b) Mention the mode of supply of the following services under the GATS :
(i) Indian doctors visiting super speciality hospitals in America, Europe and Australia to provide medical treatment and perform surgical operations.
(ii) US consultancy firms setting up a joint venture or a branch office in India.
(iii) Foreign tourists visiting India and availing of hotel services.
(iv) Indian advocates temporarily visiting UK for rendering legal services.
(1 mark each)
(c) What are the main objectives of the Foreign Trade Policy (FTP) ?
(4 marks)
(d) What are the strategies adopted to achieve the objectives of the FTP ?
(4 marks)
3. Explain the following statements with examples :
(i) The ministerial conferences play a vital role in the decision making process of the WTO.
(ii) The WTO has shifted focus of the world trade from bilateralism to multilateralism.
(8 marks each)
4. Critically examine —
(i) Two important trade protection laws.
(5 marks)
(ii) Anti-dumping agreements.
(5 marks)
(iii) Three categories of subsidies.
(6 marks)
5. (a) Draft an arbitration clause of an international contract specifying therein the applicable laws, place (country) and language for conducting proceedings of an arbitration.
(5 marks)
(b) State the functions of the ‘Board of Trade’ with reference to the foreign trade policy.
(5 marks)
(c) Indian seller of goods and Italian buyer agreed that as per the rules of the International Commercial Contract (ICC), the arbitration would be held in Paris. The Italian buyer, however, filed an application in the Indian High Court seeking an injunction restraining the Indian seller from selling or alienating its goods,
property or assets. Indian seller took the objection that, as per the agreement, the place of arbitration was at Paris. As such, the provisions of Part-I of the Arbitration and Conciliation Act, 1996 were not applicable. The application for interim relief under section 9 of the said Act is liable to be dismissed. Decide giving reasons
in the light of authoritative judgment on the above issue.
(6 marks)
6. Explain the following under the Competition Act, 2002 :
(i) Anti-competitive agreements.
(3 marks)
(ii) Provisions related to conduct of inquiry into alleged anti-competitive agreements.
(3 marks)
(iii) Nature of ‘cartels’.
(4 marks)
(iv) Extent of prevalence of cartels in Indian market with examples.
(6 marks)
7. Star India Ltd. (manufacturer) in technical collaboration with Luminus Inc., USA (collaborator) has been manufacturing heat exchangers for the last five years as per the design provided by the collaborator for petrochemical projects. The manufacturer feels that its engineers have significantly improved the design and quality of the heat exchangers, which could be patented. Prepare a note for the consideration of the
management clarifying the following issues :
(i) Patent right to improvement;
(ii) Ownership right of patent for improvement;
(iii) Applicant for patent and burden of proof to challenge patent; and
(iv) Territorial validity of patent.
(4 marks each)
8. (a) ABC Ltd. and XYZ Ltd. enter into a joint venture (JV) with 51% and 49% shareholdings respectively and a new company in the name and style of PQR Ltd. was registered for the manufacture and marketing of electronic appliances, without incorporating the terms of the JV agreement in the articles of association.
PQR Ltd. was quite successful. One of the important terms of the JV was that none of the party would transfer its shares in PQR Ltd. without consent of at least two directors of each side present at a validly convened Board meeting. However, XYZ Ltd. has finalised sale of its 20% stake in JV at a very good price without the consent of ABC Ltd. Advise ABC Ltd. regarding sale of 20% shares by XYZ Ltd. quoting a decided case.
(4 marks)
(b) Draft a clause restricting transfer of shares to a third party in a joint venture agreement.
(4 marks)
(c) John, CEO of Gold Star Inc., USA, is considering investment in a joint venture with an Indian company. Advise him about the important guidelines under Press Notes 1 and 3 of 2005 for foreign investment / technical collaborations.
(8 marks)
——o——
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