Common use of With reference to Article 13 (Capital Gains) Clause in Contracts

With reference to Article 13 (Capital Gains). For purposes of subparagraph b) of paragraph 6 of Article 13, the terms “mutual fund” and “institutional investor” shall not include an investor of a Contracting State which directly or indirectly owns 10 percent or more of the shares or other rights representing the capital or of the profits in a company of the other Contracting State.

With reference to Article 13 (Capital Gains). For purposes of subparagraph b) of paragraph 6 of Article 13, the terms “mutual fund” “mutual fund” and “institutional investor” “institutional investor” shall not include an investor of a Contracting State which directly or indirectly owns 10 percent or more of the shares or other rights representing the capital or of the profits in a company of the other Contracting State.