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The Convention on the Settlement of Investment Disputes between States and Nationals of Other States was opened to signature on March 18, 1965 on behalf of all the States members of the International Bank for Reconstruction and Development. On October 14, 1966, thirty days after the deposit with the Bank of the twentieth instrument of ratification, the Convention entered into force in accordance with its Article 68(2). As of October 31, 1984, a total of 90 States had signed the Convention. Of these, 87 had become Contracting States by depositing instruments of ratification, including Switzerland which, although not a member of the Bank, was invited to sign the Convention under Article 67 thereof on February 2, 1967. Pursuant to Article 6(1)(a)-(c) of the Convention, the Administrative Council of the International Centre for Settlement of Investment Disputes adopted the following Regulations and Rules at its First Annual Meeting on September 25, 1967:
These Regulations and Rules came into force on January 1, 1968. Except for certain amendments to the Administrative and Financial Regulations, they remained unchanged until September 26, 1984. On that date, the Administrative Council, at its Eighteenth Annual Meeting, adopted revisions to the Regulations and Rules which took immediate effect. In accordance with Articles 33 and 44 of the Convention, however, the Conciliation and Arbitration Rules applicable to any particular proceeding are those in effect on the date on which the parties consented to conciliation or arbitration. The revised Conciliation and Arbitration Rules only apply, therefore, to consents given after September 26, 1984, unless the parties to a dispute submitted to the Centre pursuant to an earlier consent agree to the application of the new Conciliation or Arbitration Rules. The present volume contains the Regulations and Rules as revised on September 26, 1984. For convenience, the text of the Convention is also included.
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