Common use of NOTES FOR TRUSTEE (CREATION T) Clause in Contracts

NOTES FOR TRUSTEE (CREATION T). 5.1 If an Authorized Participant has placed its Purchase Order with the Trustee on CREATION T using the Trustee’s electronic order entry system, by 6:00 p.m. NYC time the Trustee will send an email message to the Authorized Participant indicating the approximate total amount of Singapore Dollars that must be deposited in the Deposit Account no later than 3:30 p.m. NYC time on CREATION T+1 (usually 3:30 a.m. the following day Singapore time). C2 CREATION T+1 C2.1 On CREATION T+1 the Trustee notifies the Authorized Participant of the final amount of Singapore Dollars that must be deposited in the Deposit Account (the “Basket Singapore Dollar Amount”) not later than 3:30 p.m. NYC time on CREATION T+1 (usually 3:30 a.m. the following day Singapore time) for the creation of Baskets on T+2. C2.2 Based on the Purchase Orders placed with it on CREATION T, the Trustee sends an authenticated electronic message (SWIFT MT210) to the Depository indicating the total amount of Singapore Dollars that the Depository will receive from the Authorized Participant on CREATION T+1. C2.3 By 3:30 p.m. NYC time (usually 3:30 a.m. the following day Singapore time), the Depository has received each Authorized Participant’s wire transfer of the Basket Singapore Dollar Amount in the Deposit Account. C3 CREATION T+2 C3.1 As of 9:00 a.m. NYC time, the Depository notifies the Trustee that the Basket Singapore Dollar Amount has been transferred into the Deposit Account by an authenticated electronic message (SWIFT MT910). C3.2 Prior to the delivery of the Baskets on CREATION T+2, the Trustee must have received the Transaction Fees from the Authorized Participant (SPO/DTC Charge). C3.3 At 11:00 a.m. NYC time, following receipt of the notice from the Depository confirming the transfer of the Basket Singapore Dollar Amount to the Deposit Account, the Trustee authorizes the creation and issuance of the Baskets ordered by each Authorized Participant on CREATION T for which the Trustee has received confirmation from the Depository of receipt of the Basket Singapore Dollar Amount. C3.4 By 11:00 a.m. NYC time, following receipt of the notice from the Depository confirming the transfer of the Basket Singapore Dollar Amount to the Deposit Account, the Trustee notifies its transfer agent service desk that it has authorized the creation and issuance of Baskets in the number specified, and to increase the number of Shares outstanding accordingly. By 11:00 a.m. NYC time, following receipt of the notice from the Trustee that it has authorized the creation and issuance of Shares in the number specified, the Trustee’s transfer agent service desk increases the number of Shares outstanding, and notifies the Trustee and the Trustee’s DTC operations desk that an increased number of Shares is now outstanding and available for release in accordance with the Trustee’s instructions. C3.5 By 11:00 a.m. NYC time, following receipt of notice from the Trustee’s transfer agent service desk that the number of Shares now outstanding has been increased, the Trustee notifies its DTC operations desk to release the increased number of Shares through DTC to the DTC participant accounts of the Authorized Participants scheduled to receive Baskets on CREATION T+2 for whom the Trustee has received confirmation from the Depository that the Basket Singapore Dollar Amount has been received into the Deposit Account. C3.6 Following the close of business (usually 4:00 p.m. Singapore time) on CREATION T+2, the Depository makes appropriate entries in its books and records to reflect the creation of Baskets. C3.7 Following the close of business (usually 4:00 p.m. Singapore time) on CREATION T+2, the Depository Singapore Dollar system updates account records, recording the movements of Singapore Dollars in the Deposit Account and providing updated balances in the affected accounts as of 8:30 a.m. NYC time on the first NY Business Day following the date that is the Settlement Date under the Trust Agreement. C3.8 Following the close of business (usually 4:00 p.m. Singapore time) on CREATION T+2, the Depository Singapore Dollar system automatically generates authenticated electronic messages (SWIFT MT940 or SWIFT MT950) constituting a statement of the activity affecting the Deposit Account (received only by the Trustee).

NOTES FOR TRUSTEE (CREATION T). 5.1 If an Authorized Participant has placed its Purchase Order with the Trustee on CREATION T using the Trustee’s electronic order entry system, by 6:00 p.m. NYC time the Trustee will send an email message to the Authorized Participant indicating the approximate total amount of Singapore Dollars that must be deposited in the Deposit Account no later than 3:30 p.m. NYC time on CREATION T+1 (usually 3:30 a.m. the following day Singapore time). C2 CREATION T+1 T+1 C2.1 On CREATION T+1 the Trustee notifies the Authorized Participant of the final amount of Singapore Dollars that must be deposited in the Deposit Account (the “Basket Singapore Dollar Amount”) not later than 3:30 p.m. NYC time on CREATION T+1 (usually 3:30 a.m. the following day Singapore time) for the creation of Baskets on T+2. C2.2 Based on the Purchase Orders placed with it on CREATION T, the Trustee sends an authenticated electronic message (SWIFT MT210) to the Depository indicating the total amount of Singapore Dollars that the Depository will receive from the Authorized Participant on CREATION T+1. C2.3 By 3:30 p.m. NYC time (usually 3:30 a.m. the following day Singapore time), the Depository has received each Authorized Participant’s wire transfer of the Basket Singapore Dollar Amount in the Deposit Account. C3 CREATION T+2 C3.1 As of 9:00 a.m. NYC time, the Depository notifies the Trustee that the Basket Singapore Dollar Amount has been transferred into the Deposit Account by an authenticated electronic message (SWIFT MT910). C3.2 Prior to the delivery of the Baskets on CREATION T+2, the Trustee must have received the Transaction Fees from the Authorized Participant (SPO/DTC Charge). C3.3 At 11:00 a.m. NYC time, following receipt of the notice from the Depository confirming the transfer of the Basket Singapore Dollar Amount to the Deposit Account, the Trustee authorizes the creation and issuance of the Baskets ordered by each Authorized Participant on CREATION T for which the Trustee has received confirmation from the Depository of receipt of the Basket Singapore Dollar Amount. C3.4 By 11:00 a.m. NYC time, following receipt of the notice from the Depository confirming the transfer of the Basket Singapore Dollar Amount to the Deposit Account, the Trustee notifies its transfer agent service desk that it has authorized the creation and issuance of Baskets in the number specified, and to increase the number of Shares outstanding accordingly. By 11:00 a.m. NYC time, following receipt of the notice from the Trustee that it has authorized the creation and issuance of Shares in the number specified, the Trustee’s transfer agent service desk increases the number of Shares outstanding, and notifies the Trustee and the Trustee’s DTC operations desk that an increased number of Shares is now outstanding and available for release in accordance with the Trustee’s instructions. C3.5 By 11:00 a.m. NYC time, following receipt of notice from the Trustee’s transfer agent service desk that the number of Shares now outstanding has been increased, the Trustee notifies its DTC operations desk to release the increased number of Shares through DTC to the DTC participant accounts of the Authorized Participants scheduled to receive Baskets on CREATION T+2 for whom the Trustee has received confirmation from the Depository that the Basket Singapore Dollar Amount has been received into the Deposit Account. C3.6 Following the close of business (usually 4:00 p.m. Singapore time) on CREATION T+2, the Depository makes appropriate entries in its books and records to reflect the creation of Baskets. C3.7 Following the close of business (usually 4:00 p.m. Singapore time) on CREATION T+2, the Depository Singapore Dollar system updates account records, recording the movements of Singapore Dollars in the Deposit Account and providing updated balances in the affected accounts as of 8:30 a.m. NYC time on the first NY Business Day following the date that is the Settlement Date under the Trust Agreement. C3.8 Following the close of business (usually 4:00 p.m. Singapore time) on CREATION T+2, the Depository Singapore Dollar system automatically generates authenticated electronic messages (SWIFT MT940 or SWIFT MT950) constituting a statement of the activity affecting the Deposit Account (received only by the Trustee).