Projet

(ii) it is exempt from income tax in its jurisdiction of residence (being a

Member State, Switzerland or other jurisdiction);

(iii) it has no shareholders or members who have a proprietary or beneficial interest in

its income or assets;

(iv) the applicable laws of the NFE's jurisdiction of residence (being a Member State,

Switzerland or other jurisdiction) or the NFE's formation documents do not permit any income or assets of the NFE to be distributed to, or applied for the benefit of, a private person or non-charitable Entity other than pursuant to the conduct of the NFE's charitable activities, or as payment of reasonable compensation for services rendered, or as payment representing the fair market value of property which the NFE has purchased; and

(v) the applicable laws of the NFE's jurisdiction of residence (being a Member State,

Switzerland or other jurisdiction) or the NFE's formation documents require that, upon the NFE's liquidation or dissolution, all of its assets be distributed to a Governmental Entity or other non-profit organisation, or escheat to the

government of the NFE's jurisdiction of residence (being a Member State,

Switzerland or other jurisdiction) or any political subdivision thereof.

AMP/EU/CH/en 81