Definition of interest payment. (1) For the purposes of this Agreement, “interest payment” means—
(a) interest paid, or credited to an account, relating to debt claims of every kind, whether or not secured by mortgage and whether or not carrying a right to participate in the debtor’s profits, and, in particular, income from government securities and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures; penalty charges for late payment shall not be regarded as interest payment;
(b) interest accrued or capitalised at the sale, refund or redemption of the debt claims referred to in sub-paragraph (a);
(c) income deriving from interest payments either directly or through an entity referred to in Article 8(2) of this Agreement, distributed by—
(i) an UCITS authorised in accordance with Council Directive 85/611/EEC; or
(ii) an equivalent undertaking for collective investment established in the BVI;
(iii) entities which qualify for the option under Article 8(3) of this Agreement;
(iv) undertakings for collective investment established outside the territory to which the Treaty establishing the European Community applies by virtue of Article 299 thereof and outside the BVI; and
(d) income realised upon the sale, refund or redemption of shares or units in the following undertakings and entities, if they invest directly or indirectly, via other undertakings for collective investment or entities referred to below, more than 40% of their assets in debt claims as referred to in sub-paragraph (a)—
(i) an UCITS authorised in accordance with Council Directive 85/611/EEC; or
(ii) an equivalent undertaking for collective investment established in the BVI;
(iii) entities which qualify for the option under Article 8(3) of this Agreement;
(iv) undertakings for collective investment established outside the territory to which the Treaty establishing the European Community applies by virtue of Article 299 thereof and outside the BVI. However, the contracting parties shall have the option of including income mentioned under paragraph (1)(d) of this Article in the definition of interest only to the extent that such income corresponds to gains directly or indirectly deriving from interest payments within the meaning of paragraph (1)(a) and (b) of this Article.
(2) As regards paragraph (1)(c) and (d) of this Article, when a paying agent has no information concerning the proportion of the income which derives from interest payments, the total amount of the in...
Definition of interest payment. (1) For the purposes of this Agreement “interest payment” shall mean:
(a) interest paid, or credited to an account, relating to debt claims of every kind, whether or not secured by mortgage and whether or not carrying a right to participate in the debtor’s profits, and, in particular, income from government securities and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures; penalty charges for late payment shall not be regarded as interest payment;
(b) interest accrued or capitalised at the sale, refund or redemption of the debt claims referred to in (a);
(c) income deriving from interest payments either directly or through an entity referred to in Article 5 (2) of this Agreement, distributed by –
(i) an UCITS authorised in accordance with Council Directive 85/611/EEC; or
(ii) an equivalent undertaking for collective investment established in the Cayman Islands;
(iii) entities which qualify for the option under Article 5(3) of this Agreement;
(iv) undertakings for collective investment established outside the territory to which the Treaty establishing the European Community applies by virtue of Article 299 thereof and outside the Cayman Islands.
(d) income realised upon the sale, refund or redemption of shares or units in the following undertakings and entities, if they invest directly or indirectly, via other undertakings for collective investment or entities referred to below, more than 40% of their assets in debt claims as referred to in (a):
(i) an UCITS authorised in accordance with Council Directive 85/611/EEC; or
(ii) an equivalent undertaking for collective investment established in the Cayman Islands;
(iii) entities which qualify for the option under Article 5(3) of this Agreement;
(iv) undertakings for collective investment established outside the territory to which the Treaty establishing the European Community applies by virtue of Article 299 thereof and outside the Cayman Islands However, the contracting parties shall have the option of including income mentioned under paragraph (1)(d) of this Article in the definition of interest only to the extent that such income corresponds to gains directly or indirectly deriving from interest payments within the meaning of paragraphs (1)(a) and (b) of this Article.
(2) As regard paragraphs (1)(c) and (d) of this Article, when a paying agent has no information concerning the proportion of the income which derives from interest payments, the tota...
Definition of interest payment. (1) For the purposes of this Agreement “interest payment” shall mean:
(a) interest paid, or credited to an account, relating to debt claims of every kind, whether or not secured by mortgage and whether or not carrying a right to participate in the debtor’s profits, and, in particular, income from government securities and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures, but excluding interest from loans between private individuals not acting in the course of their business. Penalty charges for late payment shall not be regarded as interest payment;
(b) interest accrued or capitalised at the sale, refund or redemption of the debt claims referred to in (a);
(c) income deriving from interest payments either directly or through an entity referred to in Article 7(2) of this Agreement, distributed by –
(i) an UCITS authorised in accordance with EC Directive 85/611/EEC of the Council; or
(ii) an equivalent undertaking for collective investment established in the Turks and Caicos Islands;
(iii) entities which qualify for the option under Article 7(3) of this Agreement;
(iv) undertakings for collective investment established outside the territory to which the Treaty establishing the European Community applies by virtue of Article 299 thereof and outside the Turks and Caicos Islands.
(d) income realised upon the sale, refund or redemption of shares or units in the following undertakings and entities, if they invest directly or indirectly, via other undertakings for collective investment or entities referred to below, more than 40% of their assets in debt claims as referred to in (a):
(i) an UCITS authorised in accordance with Directive 85/611/EEC; or
(ii) an equivalent undertaking for collective investment established in the Turks and Caicos Islands.
(iii) entities which qualify for the option under Article 7(3) of this Agreement;
(iv) undertakings for collective investment established outside the territory to which the Treaty establishing the European Community applies by virtue of Article 299 thereof and outside the Turks and Caicos Islands. However, the contracting parties shall have the option of including income mentioned under paragraph (1)(d) of this Article in the definition of interest only to the extent that such income corresponds to gains directly or indirectly deriving from interest payments within the meaning of paragraphs (1)(a) and (b) of this Article.
(2) As regards paragraphs (1)(c) a...
Definition of interest payment. 1. For the purposes of this Agreement ‘interest payment’ shall mean:
(a) interest paid, or credited to an account, relating to debt- claims of every kind including interest paid on fiduciary deposits by Swiss paying agents for the benefit of beneficial owners as defined in Article 4, whether or not secured by mortgage and whether or not carrying a right to participate in the debtor's profits, and in particular, income from government securities and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures, but excluding interest from loans between private individuals not acting in the course of their business. Penalty charges for late payment shall not be regarded as interest payments;
(b) interest accrued or capitalised at the sale, refund or redemption of the debt-claims referred to in (a);
(c) income deriving from interest payments either directly or through an entity referred to in Article 4(2) of Council Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments, hereinafter referred to as the ‘Directive’, distributed by:
(i) undertakings for collective investment domiciled in a Member State,
(ii) entities domiciled in a Member State, which exercise the option under Article 4(3) of the Directive and which inform the paying agent of this fact,
(iii) undertakings for collective investment established outside the territory of the Contracting Parties,
(iv) Swiss investment funds which at the time of the entry into force of this Agreement or at a later date are exempted from Swiss anticipatory tax on their payments to individuals who are residents of a Member State.
(d) income realised upon the sale, refund or redemption of shares or units in the following undertakings and entities, if they invest directly or indirectly via other undertakings for collective investment or entities referred to below more than 40 % of their assets in debt-claims as referred to in (a):
(i) undertakings for collective investment domiciled in a Member State,
(ii) entities domiciled in a Member State, which exercise the option under Article 4(3) of the Directive and which inform the paying agent of this fact,
(iii) undertakings for collective investment established outside the territory of the Contracting Parties,
(iv) Swiss investment funds which at the time of the entry into force of this Agreement or at a later date are exempted from Swiss anticipatory tax on their payments to indivi...
Definition of interest payment. (1) For the purposes of this Agreement “interest payment” shall mean:
(a) interest paid, or credited to an account, relating to debt claims of every kind, whether or not secured by mortgage and whether or not carrying a right to participate in the debtor’s profits, and, in particular, income from government securities and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures; penalty charges for late payments shall not be regarded as interest payments;
(b) interest accrued or capitalised at the sale, refund or redemption of the debt claims referred to in (a);
(c) income deriving from interest payments either directly or through an entity referred to in Article 4(2) of this Agreement, distributed by –
Definition of interest payment. (1) For the purposes of this Agreement “interest payment” shall mean:
(a) interest paid, or credited to an account, relating to debt claims of every kind, whether or not secured by mortgage and whether or not carrying a right to participate in the debtor’s profits, and, in particular, income from government securities and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures; penalty charges for late payments shall not be regarded as interest payments;
(b) interest accrued or capitalised at the sale, refund or redemption of the debt claims referred to in (a);
(c) income deriving from interest payments either directly or through an entity referred to in Article 4(2) of this Agreement, distributed by—
(i) an UCITS authorised in accordance with EC Directive 85/611/EEC of the Council; or
(ii) an equivalent undertaking for collective investment established in Montserrat;
(iii) entities which qualify for the option under Article 4(3) of this Agreement;
(iv) undertakings for collective investment established outside the territory to which the Treaty establishing the European Community applies by virtue of Article 299 thereof and outside Montserrat.
(d) income realised upon the sale, refund or redemption of shares or units in the following undertakings and entities, if they invest directly or indirectly, via other undertakings for collective investment or entities referred to below, more than 40% of their assets in debt claims as referred to in (a):
(i) an UCITS authorised in accordance with Directive 85/611/EEC; or
(ii) an equivalent undertaking for collective investment established in Montserrat.
(iii) entities which qualify for the option under Article 4(3) of this Agreement;
(iv) undertakings for collective investment established outside the territory to which the Treaty establishing the European Community applies by virtue of Article 299 thereof and outside Montserrat. However, the contracting parties shall have the option of including income mentioned under paragraph (1)(d) of this Article in the definition of interest only to the extent that such income corresponds to gains directly or indirectly deriving from interest payments within the meaning of paragraphs (1)(a) and (b) of this Article.
(2) As regards paragraphs 1(c) and (d) of this Article, when a paying agent has no information concerning the proportion of the income which derives from interest payments, the total amount of the income shall b...
Definition of interest payment. 1. For the purposes of this Agreement, ‘interest payment’ means:
(a) interest paid, or credited to an account, relating to debt- claims of every kind, whether or not secured by mortgage and whether or not carrying a right to participate in the debtor's profits, and in particular, income from government securities and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures; penalty charges for late payments shall not be regarded as interest payments;
(b) interest accrued or capitalised at the sale, refund or redemption of the debt-claims referred to in (a);
(c) income deriving from interest payments either directly or through an entity referred to in Article 4(2) of the Directive, distributed by:
(i) undertakings for collective investment or comparable or equivalent bodies for common investments in securities established within the territories referred to in Article 19, (ii) an entity domiciled in a Member State, which exercises the option under Article 4(3) of the Directive and informs the paying agent of this fact,
(iii) undertakings for collective investment or comparable or equivalent bodies for common investment in securities established outside the territories referred to in Article 19;
(d) income realised upon the sale, refund or redemption of shares or units in the following undertakings and entities, if they invest directly or indirectly via other undertakings for collective investment or entities referred to below more than 40 % of their assets in debt-claims as referred to in (a):
(i) undertakings for collective investment or comparable or equivalent bodies for common investments in securities established within the territories referred to in Article 19, (ii) an entity domiciled in a Member State, which exercises the option under Article 4(3), of the Directive and informs the paying agent of this fact,
(iii) undertakings for collective investment or comparable or equivalent bodies for common investment in securities established outside the territories referred to in Article 19. However, San Marino shall have the option of including income mentioned under (d) in the definition of interest only to the extent that such income corresponds to gains directly or indirectly deriving from interest payments within the meaning of (a) and (b).
2. As regards paragraphs 1(c) and (d), when a paying agent has no information concerning the proportion of the income which derives from interest payments, the t...
Definition of interest payment. For the purposes of this Agreement “interest payment” shall mean:...
Definition of interest payment. (1) For the purposes of this Agreement “interest payment” shall mean:
(a) interest paid, or credited to an account, relating to debt claims of every kind, whether or not secured by mortgage and whether or not carrying a right to participate in the debtor’s profits, and, in particular, income from government securities and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures; penalty charges for late payment shall not be regarded as interest payment;
(b) interest accrued or capitalised at the sale, refund or redemption of the debt claims referred to in (a);
(c) income deriving from interest payments either directly or through an entity referred to in Article 7(2) of this Agreement, distributed by –
(i) an UCITS authorised in accordance with EC Directive 85/611/EEC of the Council; or
(ii) an equivalent undertaking for collective investment established in Jersey;
(iii) entities which qualify for the option under Article 7(3) of this Agreement;
(iv) undertakings for collective investment established outside the territory to which the Treaty establishing the European Community applies by virtue of Article 299 thereof and outside Jersey.
(d) income realised upon the sale, refund or redemption of shares or units in the following undertakings and entities, if they invest directly or indirectly, via other undertakings for collective investment or entities referred to below, more than 40% of their assets in debt claims as referred to in (a):
(i) an UCITS authorised in accordance with Directive 85/611/EEC; or
(ii) an equivalent undertaking for collective investment established in Jersey.
(iii) entities which qualify for the option under Article 7(3) of this Agreement;
(iv) undertakings for collective investment established outside the territory to which the Treaty establishing the European Community applies by virtue of Article 299 thereof and outside Jersey. However, the contracting parties shall have the option of including income mentioned under paragraph (1)(d) of this Article in the definition of interest only to the extent that such income corresponds to gains directly or indirectly deriving from interest payments within the meaning of paragraphs (1)(a) and (b) of this Article.
(2) As regards paragraphs (1)(c) and (d) of this Article, when a paying agent has no information concerning the proportion of the income which derives from interest payments, the total amount of the income shall be considered an...
Definition of interest payment. 1. For the purposes of this Agreement, ‘interest payment’ means:
(a) interest paid or credited to an account relating to debt claims of any kind, whether or not secured by mortgage and whether or not carrying a right to participate in the debtor's profits, and in particular, income from government securities and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures; penalty charges for late payment shall not be regarded as interest payments;
(b) interest accrued or capitalised on the sale, refund or redemption of the debt claims referred to in (a);
(c) income deriving from interest payments, either directly or through an entity referred to in Article 4(2) of the Directive distributed by:
(i) undertakings for collective investment established in a Member State of the European Community or in the Principality of Andorra;
(ii) entities which qualify for the option under Article 4(3) of the Directive;
(iii) undertakings for collective investment established outside the territory referred to in Article 17;
(d) income realised on the sale, refund or redemption of shares or units in the following undertakings and entities, if they invest directly or indirectly via other undertakings for collective investment or entities referred to below, more than 40 % of their assets in debt claims as referred to in (a):
(i) undertakings for collective investment established in a Member State of the European Community or in the Principality of Andorra;
(ii) entities which qualify for the option under Article 4(3) of the Directive;
(iii) undertakings for collective investment established outside the territory referred to in Article 17. However, the Principality of Andorra shall have the option of including income mentioned under (d) in the definition of interest payment only to the extent that such income corre- sponds to gains directly or indirectly deriving from interest payments within the meaning of (a) and (b).
2. As regards paragraph 1(c) and (d), when a paying agent possesses no information concerning the proportion of the income which derives from interest payments, the total amount of the income shall be considered to be an interest payment.
3. As regards paragraph 1(d), when a paying agent possesses no information concerning the percentage of the assets invested in debt claims or in shares or units defined in that paragraph, that percentage shall be considered to be more than 40 %. Where it cannot determine the...
