Edited by Stephen Tully
Chapter 2: UN: Draft Code of Conduct on Transnational Corporations, 1990
Commentary: One feature of the assertion by newly independent developing States for a New International Economic Order in 1974 (UNGA Resolution 3201) was exercising greater regulatory control over foreign direct investment. A Group of Eminent Persons was appointed to study the impact of corporations upon development and international relations: UN Doc E/5500/Rev.1 (1974). ECOSOC Resolutions 1908 (1974) and 1913 (1974) established a Commission on TNCs with the Centre on TNCs acting as secretariat. Their ‘highest priority’ of work was a code of conduct: for previous drafts see UNCTC, TNCs: ‘Codes of Conduct, Formulations by the Chairman’, UN Doc E/C.10 2/8 (1978) & UNCTC, ‘Draft Code of Conduct on TNCs’, UN Docs E/1983/17/Rev1 and E/1988/39/Add1. Political disagreements between governments were reduced to several key issues by the mid-1980s: ECOSOC, ‘TNCs: Issues Involved in the Formulation of a Code of Conduct’, UN Doc E/C.10/17 (1976); UNCTC, ‘Secretariat Report on the Outstanding Issues in the Draft Code of Conduct on TNCs’, UN Doc E/C.10/1984/S/5 (1984); ECOSOC, ‘Work on the Formulation of the UN Code of Conduct on TNCs’, UN Doc E/C.10/1985/S/2; UNCTC, ‘The UN Code of Conduct on TNCs’, UN Doc ST/CTC/Ser.A/4 (1986). This included the standard of compensation for expropriated property under international law: Robinson P. (1986), ‘The Question of a Reference to International Law in the UN Code of Conduct on TNCs’, UN Doc ST/CTC/Ser.A/1 (1986); Vagts D.F. (1986), ‘The Question of a Reference to International Obligations on the UN Code of Conduct on TNCs: A Different View’, UN Doc ST/CTC/Ser.A/2 (1986)...
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