Common use of Special Rules Clause in Contracts

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E D of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Belgian Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Belgium that is not described in paragraph E D or subparagraph F(2E(2) of this section, consistent with paragraph 4 3 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Belgium that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E D or subparagraph F(2E(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Belgium Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Cayman Islands Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore the Cayman Islands that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 3 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore the Cayman Islands that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Cayman Islands Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean San Marino Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore San Marino that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 of Article 5 4 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore San Marino that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean San Marino Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Serbian Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Serbia that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Serbia that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Serbian Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E D of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean an HKSAR Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore the HKSAR that is not described in paragraph E D or subparagraph F(2) of this section, consistent with paragraph 4 of Article 5 4 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore the HKSAR that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E D or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean HKSAR Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean an Anguilla Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Anguilla that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Anguilla that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Anguilla Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Georgian Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Georgia that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Georgia that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Georgian Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Polish Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Poland that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 3 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Poland that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012;any b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Polish Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E F of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Swedish Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Sweden that is not described in paragraph E F or subparagraph F(2G(2) of this section, consistent with paragraph 4 3 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Sweden that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E F or subparagraph F(2G(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Swedish Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean an Israeli Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Israel that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 3 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Israel that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Israeli Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean an Austrian Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Austria that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 of Article 5 4 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Austria that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle (or its custodial bank) has not issued, and does not issue, any physical shares in bearer form after December 31, 2012, or, if the collective investment vehicle has issued any such shares after December 31, 2012, the collective investment vehicle has redeemed all such shares prior to the entry into force of this Agreement; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Austrian Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle or its custodial bank has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Guyanese Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Guyana that is not described in paragraph E or subparagraph F(2) of this section, consistent with [for Model 1A and Model 1B Non-Reciprocal IGAs: paragraph 3 of Article 5][for Model 1B Standalone IGA: paragraph 4 of Article 5 5] of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Guyana that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Guyanese Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Financial Institution of Turkmenistan (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Turkmenistan that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Turkmenistan that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Financial InstitutionInstitution of Turkmenistan) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean an Uzbekistan Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Uzbekistan that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Uzbekistan that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Uzbekistan Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Panamanian Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Panama that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 3 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Panama that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Panamanian Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1the date specified in Law 47 of August 6, 20172013.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Hellenic Republic Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore the Hellenic Republic that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 3 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore the Hellenic Republic that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Hellenic Republic Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Grenada Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Grenada that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 3 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Grenada that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Grenada Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Kosovo Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Kosovo that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Kosovo that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Kosovo Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E D of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Turkish Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Turkey that is not described in paragraph E D or subparagraph F(2E(2) of this section, consistent with paragraph 4 3 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Turkey that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E D or subparagraph F(2E (2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Turkish Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean an Angolan Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Angola that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Angola that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Angolan Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Cabo Verdean Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Cabo Verde that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Cabo Verde that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Cabo Verdean Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Montserrat Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Montserrat that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Montserrat that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Montserrat Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean an Algerian Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Algeria that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Algeria that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Algerian Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Trinidad and Tobago Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Trinidad and Tobago that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 3 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Trinidad and Tobago that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Trinidad and Tobago Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Greenlandic Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Greenland that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Greenland that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Greenlandic Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Malta Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Malta that is not described in paragraph E or of subparagraph F(2) of this section, consistent with paragraph 4 3 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Malta that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Malta Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Thai Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Thailand that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 3 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Thailand that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Thai Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean [FATCA Partner] Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore [FATCA Partner] that is not described in paragraph E or subparagraph F(2) of this section, consistent with [for Model 1A and Model 1B Non-Reciprocal IGAs: paragraph 3 of Article 5][for Model 1B Standalone IGA: paragraph 4 of Article 5 5] of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. [An Investment Entity established in Singapore [FATCA Partner] that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean [FATCA Partner] Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 20172017.]8 8 [This provision would only be included where FATCA Partner has previously allowed collective investment vehicles to issue bearer shares.]

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Croatian Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Croatia that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 3 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Croatia that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-deemed- compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Croatian Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E D of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Luxembourg Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Luxembourg that is not described in paragraph E D or subparagraph F(2E(2) of this section, consistent with paragraph 4 3 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Luxembourg that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E D or subparagraph F(2E(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares interests in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December March 31, 20122013; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Financial Institutionanother person consistent with paragraph 3 of Article 5 of the Agreement) performs the due diligence procedures set forth in Annex I and reports any information required to be reported pursuant to the Agreement with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017. 5. With respect to an Investment Entity established in Luxembourg and that is not otherwise described in this section IV, it is understood that the category of Restricted Funds under the relevant U.S. Treasury regulations shall be interpreted consistently with the following rules: a) The Investment Entity will be considered regulated as an investment fund under the laws of Luxembourg if the manager is regulated with respect to the fund in Luxembourg or another EU Member State; b) A Subscription or Application Form shall be considered a distribution agreement, which is a contractual arrangement that governs the distribution of debt or equity interest in the Investment Entity; c) The distribution agreement will be treated as prohibiting sales and other transfers of debt or equity interests in the Investment Entity (other than interests that are both distributed by and held through a participating FFI) to specified U.S. persons, non-participating FFIs, or passive NFFEs with one or more substantial U.S. owners, if the agreement includes an explicit obligation to comply with the Investment Entity’s prospectus and the Investment Entity’s prospectus includes an explicit prohibition of sale and other transfer of debt or equity interests in the Investment Entity (other than interests that are both distributed by and held through a participating FFI) to specified U.S. persons, non-participating FFIs, or passive NFFEs with one or more substantial U.S. owners; and d) The distribution agreement will be treated as requiring the distributor to notify the Investment Entity of a change in the distributor’s chapter 4 status within 90 days of the change, if the agreement includes an explicit obligation to comply with the Investment Entity’s prospectus and the Investment Entity’s prospectus requires the distributor to notify the Investment Entity of a change in the distributor’s chapter 4 status within 90 days of the change.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Macao SAR Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore the Macao SAR that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 of Article 5 4 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore the Macao SAR that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Macao SAR Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.

Special Rules. The following rules apply to an Investment Entity: 1. With respect to interests in an Investment Entity that is a collective investment vehicle described in paragraph E of this section, the reporting obligations of any Investment Entity (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 2. With respect to interests in: a) An Investment Entity established in a Partner Jurisdiction that is regulated as a collective investment vehicle, all of the interests in which (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions; or b) An Investment Entity that is a qualified collective investment vehicle under relevant U.S. Treasury Regulations; the reporting obligations of any Investment Entity that is a Singaporean Tunisian Financial Institution (other than a Financial Institution through which interests in the collective investment vehicle are held) shall be deemed fulfilled. 3. With respect to interests in an Investment Entity established in Singapore Tunisia that is not described in paragraph E or subparagraph F(2) of this section, consistent with paragraph 4 3 of Article 5 of the Agreement, the reporting obligations of all other Investment Entities with respect to such interests shall be deemed fulfilled if the information required to be reported by the first-mentioned Investment Entity pursuant to the Agreement with respect to such interests is reported by such Investment Entity or another person. 4. An Investment Entity established in Singapore Tunisia that is regulated as a collective investment vehicle shall not fail to qualify under paragraph E or subparagraph F(2) of this section, or otherwise as a deemed-compliant FFI, solely because the collective investment vehicle has issued physical shares in bearer form, provided that: a) The collective investment vehicle has not issued, and does not issue, any physical shares in bearer form after December 31, 2012; b) The collective investment vehicle retires all such shares upon surrender; c) The collective investment vehicle (or a Reporting Singaporean Tunisian Financial Institution) performs the due diligence procedures set forth in Annex I and reports any information required to be reported with respect to any such shares when such shares are presented for redemption or other payment; and d) The collective investment vehicle has in place policies and procedures to ensure that such shares are redeemed or immobilized as soon as possible, and in any event prior to January 1, 2017.