TMI BlogLIMITATION OF BENEFITSX X X X Extracts X X X X X X X X Extracts X X X X ..... Contracting State only if such a person is a qualified person as defined in paragraph 2 and meets the other conditions of this Agreement for the obtaining of any of such benefits. 2. A person of a Contracting State is a qualified person for a fiscal year only if such a person is either: a) governmental entity; or b) a company incorporated in either of the Contracting States, if- (i) the pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng States or/and by other persons incorporated in either of the Contracting States, at least 50% of the aggregate vote or value of the shares or beneficial interest of which is owned directly or indirectly by one or more individuals residents of either of the Contracting States; or d) a charitable institution or other tax exempt entity whose main activities are carried on in either of the Contra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pply and a resident of a Contracting State will be entitled to benefits of the Agreement with respect to an item of income derived from the other Contracting State, if the person actively carries on business in the State of residence (other than the business of making or managing investments for the resident's own account unless these activities are banking, insurance or security activities) and t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ities and Exchange Board of India; b) in Iceland: i) the Icelandic stock exchange; ii) the stock exchanges of Amsterdam, Brussels, Copenhagen, Frankfurt, Hamburg, Helsinki, London, Oslo, Paris, Stockholm, Sydney, Tokyo, and Toronto; and c) any other stock exchange which the competent authorities agree to recognise for the purposes of this Article. 6. Notwithstanding anything contained in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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