Projet

4. The term "Central Bank" means an institution that is by law or government sanction the principal authority, other than the government of the Member State, Switzerland or the other jurisdiction itself, issuing instruments intended to circulate as currency. Such an institution may include an instrumentality that is separate from the government of the Member State, Switzerland or the other jurisdiction, whether or not owned in whole or in part by the Member State, Switzerland or the other jurisdiction.

5. The term "Broad Participation Retirement Fund" means a fund established to provide retirement, disability, or death benefits, or any combination thereof, to beneficiaries who are current or former employees (or persons designated by such employees) of one or more employers in consideration for services rendered, provided that the fund:

(a) does not have a single beneficiary with a right to more than 5 % of the fund's assets;

(b) is subject to government regulation and provides information reporting to the tax

authorities; and

(c) satisfies at least one of the following requirements:

(i) the fund is generally exempt from tax on investment income, or taxation of such income is deferred or taxed at a reduced rate, due to its status as a retirement or pension plan;

AMP/EU/CH/en 59