Common use of Broad Participation Retirement Fund Clause in Contracts

Broad Participation Retirement Fund. A fund established in India to retirement, disability, or death benefits, or any combination thereof, to beneficiaries that are current or former employees (or persons designated by such employees) of one or more employers in consideration for services rendered, provided that the fund: 1. Does not have a single beneficiary with a right to more than five percent of the fund's assets; 2. Is subject to government regulation and provides annual information reporting about its beneficiaries to the relevant tax authorities in India; and 3. Satisfies at least one of the following requirements: (a) The fund is generally exempt from tax in India on investment income under the laws of India due to its status as a retirement or pension plan; (b) The fund receives at least 50 percent of its total contributions (other than transfers of assets from other plans described in paragraphs A through D of this section or from retirement and pension accounts described in subparagraph A( I) of section V of this Annex II) from the sponsoring employers; (c) Distributions or withdrawals from the fund are allowed only upon the occurrence of specified events related to retirement, disability, or death (except rollover distributions to other retirement funds described in paragraphs A through D of this section or retirement and pension accounts described in subparagraph A(1) of section V of this Annex II), or penalties apply to distributions or withdrawals made before such specified events; or (d) Contributions (other than certain permitted make-up contributions) by employees to the fund are limited by reference to earned income of the employee or may not exceed $50,000 annually, applying the rules set forth in Annex I for account aggregation and currency translation.

Broad Participation Retirement Fund. A fund established in India to provide retirement, disability, or death benefits, or any combination thereof, to beneficiaries that are current or former employees (or persons designated by such employees) of one or more employers in consideration for services rendered, provided that the fund: 1. Does not have a single beneficiary with a right to more than five percent of the fund's ’s assets; 2. Is subject to government regulation and provides annual information reporting about its beneficiaries to the relevant tax authorities in India; and 3. Satisfies at least one of the following requirements: (a) The fund is generally exempt from tax in India on investment income under the laws of India due to its status as a retirement or pension plan; (b) The fund receives at least 50 percent of its total contributions (other than transfers of assets from other plans described in paragraphs A through D of this section or from retirement and pension accounts described in subparagraph A( IA(1) of section V of this Annex II) from the sponsoring employers; (c) Distributions or withdrawals from the fund are allowed only upon the occurrence of specified events related to retirement, disability, or death (except rollover distributions to other retirement funds described in paragraphs A through D of this section or retirement and pension accounts described in subparagraph A(1) of section V of this Annex II), or penalties apply to distributions or withdrawals made before such specified events; or (d) Contributions (other than certain permitted make-up contributions) by employees to the fund are limited by reference to earned income of the employee or may not exceed $50,000 annually, applying the rules set forth in Annex I for account aggregation and currency translation.

Broad Participation Retirement Fund. A fund established in India Algeria to provide retirement, disability, or death benefits, or any combination thereof, to beneficiaries that are current or former employees (or persons designated by such employees) of one or more employers in consideration for services rendered, provided that the fund: 1. Does not have a single beneficiary with a right to more than five percent of the fund's ’s assets; 2. Is subject to government regulation and provides annual information reporting about its beneficiaries to the relevant tax authorities in IndiaAlgeria; and 3. Satisfies at least one of the following requirements: (a) The fund is generally exempt from tax in India Algeria on investment income under the laws of India Algeria due to its status as a retirement or pension plan; (b) The fund receives at least 50 percent of its total contributions (other than transfers of assets from other plans described in paragraphs A through D C of this section or from retirement and pension accounts described in subparagraph A( IA(1) of section V of this Annex II) from the sponsoring employers; (c) Distributions or withdrawals from the fund are allowed only upon the occurrence of specified events related to retirement, disability, or death (except rollover distributions to other retirement funds described in paragraphs A through D C of this section or retirement and pension accounts described in subparagraph A(1) of section V of this Annex II), or penalties apply to distributions or withdrawals made before such specified events; or (d) Contributions (other than certain permitted make-up contributions) by employees to the fund are limited by reference to earned income of the employee or may not exceed $50,000 annually, applying the rules set forth in Annex I for account aggregation and currency translation.

Broad Participation Retirement Fund. A fund established in India to retirement, disability, or death benefits, or any combination thereof, to beneficiaries that are current or former employees (or persons designated by such employees) of one or more employers in consideration for services rendered, provided that the fund: 1. Does not have a single beneficiary with a right to more than five percent of the fund's assets; 2. Is subject to government regulation and provides annual information reporting about its beneficiaries to the relevant tax authorities in India; and 3. Satisfies at least one of the following requirements: (a) The fund is generally exempt from tax in India on investment income under the laws of India due to its status as a retirement or pension plan; (b) The fund receives at least 50 percent of its total contributions (other than transfers of assets from other plans described in paragraphs A through D of this section or from retirement and pension accounts described in subparagraph A( I) of section V of this Annex IIXxxxx XX) from the sponsoring employers; (c) Distributions or withdrawals from the fund are allowed only upon the occurrence of specified events related to retirement, disability, or death (except rollover distributions to other retirement funds described in paragraphs A through D of this section or retirement and pension accounts described in subparagraph A(1) of section V of this Annex II), or penalties apply to distributions or withdrawals made before such specified events; or (d) Contributions (other than certain permitted make-up contributions) by employees to the fund are limited by reference to earned income of the employee or may not exceed $50,000 annually, applying the rules set forth in Annex I for account aggregation and currency translation.

Broad Participation Retirement Fund. A fund established in India to provide retirement, disability, or death benefits, or any combination thereof, to beneficiaries that are current or former employees (or persons designated by such employees) of one or more employers in consideration for services rendered, provided that the fund: 1. Does not have a single beneficiary with a right to more than five percent of the fund's ’s assets; 2. Is subject to government regulation and provides annual information reporting about its beneficiaries to the relevant tax authorities in India; and 3. Satisfies at least one of the following requirements: (a) The fund is generally exempt from tax in India on investment income under the laws of India due to its status as a retirement or pension plan; (b) The fund receives at least 50 percent of its total contributions (other than transfers of assets from other plans described in paragraphs A through D of this section or from retirement and pension accounts described in subparagraph A( IA(1) of section V of this Annex IIXxxxx XX) from the sponsoring employers; (c) Distributions or withdrawals from the fund are allowed only upon the occurrence of specified events related to retirement, disability, or death (except rollover distributions to other retirement funds described in paragraphs A through D of this section or retirement and pension accounts described in subparagraph A(1) of section V of this Annex II), or penalties apply to distributions or withdrawals made before such specified events; or (d) Contributions (other than certain permitted make-up contributions) by employees to the fund are limited by reference to earned income of the employee or may not exceed $50,000 annually, applying the rules set forth in Annex I for account aggregation and currency translation.

Broad Participation Retirement Fund. A fund established in India Barbados to provide retirement, disability, or death benefits, or any combination thereof, to beneficiaries that are current or former employees (or persons designated by such employees) of one or more employers in consideration for services rendered, provided that the fund: 1. Does not have a single beneficiary with a right to more than five percent of the fund's ’s assets; 2. Is subject to government regulation and provides annual information reporting about its beneficiaries to the relevant tax authorities in IndiaBarbados; and 3. Satisfies at least one of the following requirements: (a) The fund is generally exempt from tax in India Barbados on investment income under the laws of India Barbados due to its status as a retirement or pension plan; (b) The fund receives at least 50 percent of its total contributions (other than transfers of assets from other plans described in paragraphs A through D of this section or from retirement and pension accounts described in subparagraph A( IA(1) of section V of this Annex IIXxxxx XX) from the sponsoring employers; (c) Distributions or withdrawals from the fund are allowed only upon the occurrence of specified events related to retirement, disability, or death (except rollover distributions to other retirement funds described in paragraphs A through D of this section or retirement and pension accounts described in subparagraph A(1) of section V of this Annex II), or penalties apply to distributions or withdrawals made before such specified events; or (d) Contributions (other than certain permitted make-up contributions) by employees to the fund are limited by reference to earned income of the employee or may not exceed $50,000 annually, applying the rules set forth in Annex I for account aggregation and currency translation.

Broad Participation Retirement Fund. A fund established in India Guyana to provide retirement, disability, or death benefits, or any combination thereof, to beneficiaries that are current or former employees (or persons designated by such employees) of one or more employers in consideration for services rendered, provided that the fund: 1. Does not have a single beneficiary with a right to more than five percent of the fund's ’s assets; 2. Is subject to government regulation and provides annual information reporting about its beneficiaries to the relevant tax authorities in IndiaGuyana; and 3. Satisfies at least one of the following requirements: (a) The fund is generally exempt from tax in India Guyana on investment income under the laws of India Guyana due to its status as a retirement or pension plan; (b) The fund receives at least 50 percent of its total contributions (other than transfers of assets from other plans described in paragraphs A through D C of this section or from retirement and pension accounts described in subparagraph A( IA(1) of section V of this Annex II) from the sponsoring employers; (c) Distributions or withdrawals from the fund are allowed only upon the occurrence of specified events related to retirement, disability, or death (except rollover distributions to other retirement funds described in paragraphs A through D C of this section or retirement and pension accounts described in subparagraph A(1) of section V of this Annex II), or penalties apply to distributions or withdrawals made before such specified events; or (d) Contributions (other than certain permitted make-up contributions) by employees to the fund are limited by reference to earned income of the employee or may not exceed $50,000 annually, applying the rules set forth in Annex I for account aggregation and currency translation.