TMI BlogLIMITATION OF BENEFITSX X X X Extracts X X X X X X X X Extracts X X X X ..... residents of a Contracting State only if such a person has the qualifications 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 year of income only if such a person is either: ( a ) Governmental entity; or ( b ) A company in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... p or association of persons, at least 50 per cent or more of whose beneficial interests is owned by one or more individual residents of either of the Contracting States or/and by other persons incorporated in either of the Contracting States, at least 50 per cent of the aggregate vote or value of the shares or beneficial interest of which is owned directly or indirectly by one or more individual r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a bank incurred in connection with a transaction entered into with the permanent establishment of the bank situated in either of the Contracting States). 3. The provisions of Paragraph 1 and 2 shall not apply 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 State, if the person actively carries on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . For the purposes of this Article the term 'recognised stock exchange' means: ( a ) in India, a stock exchange which is for the time being recognised by the Central Government under Section 4 of the Securities Contracts (Regulation) Act, 1956; ( b ) in Tanzania, the "Dar es Salaam Stock Exchange" or any other exchange recognised by the Capital Markets and Secu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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