2015 Protocol to Implement the Sixth Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services

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Additional Annexes	2015-AFAS-FS-6-Annex-SOC-ABIF.pdf
Full Title	2015 Protocol to Implement the Sixth Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services
Short Title / Abbreviations	AFAS 6th Package on Financial Services/AFAS FS 6
CIL Subject Classification	ASEAN Documents ASEAN Economic Community ASEAN Free Trade Area Finance Services
Date of Adoption	20/03/2015
Place of Adoption	Kuala Lumpur, Malaysia at the 19th ASEAN Finance Ministers’ Meeting (AFMM)
Issued/Adopted by	Finance Ministers of ASEAN
Dispute settlement provisions	This Protocol is one of the ‘Covered Agreements’ pursuant to Article 1.1 of the 2019 ASEAN Protocol on Enhanced Dispute Settlement Mechanism read together with its Appendix 1. The 2019 Protocol will only apply with respect to new requests for consultations made on or after its entry into force (20 June 2022). Paragraph 2: “This Protocol and its Annexes shall form an integral part of the [1995] ASEAN Framework Agreement on Services.” Article VII ‘Settlement of Disputes’ of the 1995 ASEAN Framework Agreement on Services: “The [1996] Protocol on Dispute Settlement Mechanism for ASEAN shall generally be referred to and applied with respect to any disputes arising from, or any differences between Member States concerning the interpretation or application of, this Framework Agreement or any arrangements arising therefrom. A specific dispute settlement mechanism may be established for the purposes of this Framework Agreement which shall form an integral part of this Framework Agreement.” The 1995 ASEAN Framework Agreement on Services is also one of the “Covered Agreements’ pursuant to Article 1.1 of the 2004 ASEAN Protocol on Enhanced Dispute Settlement Mechanism read together with its Appendix I. The 2004 Protocol will only apply with respect to disputes that arose after its entry into force (29 November 2004).
Depository	Secretary-General of ASEAN
Annexes	Brunei Darussalam: Schedule of Specific Services Commitments for Financial Services under AFAS Cambodia: Schedule of Specific Services Commitments for Financial Services under AFAS Indonesia: Schedule of Specific Services Commitments for Financial Services under AFAS Lao PDR: Schedule of Specific Services Commitments for Financial Services under AFAS Malaysia: Schedule of Specific Services Commitments for Financial Services under AFAS Myanmar: Schedule of Specific Services Commitments for Financial Services under AFAS Philippines: Schedule of Specific Services Commitments for Financial Services under AFAS Singapore: Schedule of Specific Services Commitments for Financial Services under AFAS Thailand: Schedule of Specific Services Commitments for Financial Services under AFAS Viet Nam: Schedule of Specific Services Commitments for Financial Services under AFAS
Entry Into Force Status	In Force
Source	ASEAN Legal Instruments
Date of Entry into Force	18/06/2015
Entry into Force / Termination Provisions	Paragraph 6: “This Protocol and the commitments set out in the Annexes shall enter into force ninety (90) days after the date of its signing. Subsequent commitments made in accordance with paragraph 5 shall enter into force ninety (90) days after the date such commitments are notified in writing to the ASEAN Finance Ministers’ Meeting.” Paragraph 9: “ (1) Where a Member State is unable to complete its internal procedures for the entry into force of this Protocol within ninety (90) days from the date of its signing, the rights and obligations of that Member State under this Protocol shall commence on the first day following the date on which notification was made under Paragraph 8. (2) Where a Participating Member State is unable to complete its internal procedures within ninety (90) days after the date upon which subsequent commitments made by Participating Member States in accordance with Paragraph 5 are notified to the ASEAN Finance Ministers’ Meeting, the rights and obligations of that Participating Member State shall commence on the first day following the date on which notification was made under Paragraph 8.” Paragraph 8: “Each Member State shall, upon the completion of its internal procedures of ratification or acceptance of this Protocol and the commitments set out in the Annexes, notify the ASEAN Secretariat in writing.”
Status
ASEAN States	(Source: ASEAN Legal Instruments as of 12/12/2022)
Brunei Darussalam	Signature 20/03/2015 Signature 05/01/2016
Cambodia	Signature 20/03/2015 Ratification 13/01/2017
Indonesia	Signature 20/03/2015 Ratification 07/08/2018
Lao PDR	Signature 20/03/2015 Acceptance 04/12/2015
Malaysia	Signature 20/03/2015 Ratification 20/04/2017
Myanmar	Signature 20/03/2015 Ratification 19/01/2016
Philippines	Signature 20/03/2015 Ratification 14/06/2016
Singapore	Signature 20/03/2015 Ratification 28/07/2015
Thailand	Signature 20/03/2015 Notification 29/06/2015
Vietnam	Signature 20/03/2015 Approval 16/12/2015
Related Instruments
Protocols / Amendments to this instrument	2016 Protocol to Implement the Seventh Package of Commitments on Financial Services Under the ASEAN Framework Agreement on Services 2019 Protocol to Implement the Eighth Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services
This instrument amends/supersedes	1995 ASEAN Framework Agreement on Services The first Package of Commitments on Financial Services was made in the 1998 Protocol to Implement the Second Package of Commitments under the ASEAN Framework Agreement on Services 2002 Protocol to Implement the Second Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services 2005 Protocol to Implement the Third Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services 2008 Protocol to Implement the Fourth Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services 2011 Protocol to Implement the Fifth Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services
Related Instruments	WTO General Agreement on Trade in Services
External Links	ASEAN Secretariat accessed on 12/12/2022
Additional Information	Dates of ratification and accession given above were obtained from the ASEAN Secretariat’s Legal Instruments website and its electronic collection of instruments of ratification, accession and notification. Some of the dates given appear to be the dates of execution of the instruments of ratification/accession, rather than their date of receipt by the depository.