Projet

(b) an account that satisfies the following requirements:

(i) the account is subject to regulation as an investment vehicle for purposes other

than for retirement and is regularly traded on an established securities market, or the account is subject to regulation as a savings vehicle for purposes other than for retirement;

(ii) the account is tax-favoured (i.e., contributions to the account that would otherwise

be subject to tax are deductible or excluded from the gross income of the Account Holder or taxed at a reduced rate, or taxation of investment income from the account is deferred or taxed at a reduced rate);

(iii) withdrawals are conditioned on meeting specific criteria related to the purpose of

the investment or savings account (for example, the provision of educational or medical benefits), or penalties apply to withdrawals made before such criteria are met; and

(iv) annual contributions are limited to USD 50 000 or an equivalent amount

denominated in the domestic currency of each Member State or Switzerland or less, applying the rules set forth in paragraph C of Section VII for account

aggregation and currency translation.

AMP/EU/CH/en 72