188体育

0.1 MEMORANDUM OF UNDERSTANDING re. pension schemes

Based on Article 24 of the Convention between the United Kingdom of Great Britain and Northern Ireland (鈥淯nited Kingdom鈥�) and the Swiss Confederation (鈥淪witzerland鈥�) for the avoidance of double taxation with respect to taxes on income of 8 December 1977 (鈥渢he Convention鈥�), the competent authorities have reached the following mutual agreement regarding the term 鈥減ension scheme鈥�.

It is understood that the term 鈥減ension scheme鈥� as referred to in the Exchange of Notes of 26 June 2007 in relation to paragraph 1 of Article 4 of the Convention and in sub-paragraph (a) (ii) of paragraph 2 of Article 10 of the Convention includes any plans and schemes covered by:

(a) in the case of Switzerland

(i) the Federal Act on old age, widows鈥� / widowers鈥� and orphans鈥� insurance, of 20 December 1946 (Bundesgesetz 眉ber die Alters- und Hinterlassenenversicherung / Loi f茅d茅rale sur l鈥檃ssurance-vieillesse et survivants / Legge federale su l鈥檃ssicurazione per la vecchiaia e per i superstiti);

(ii) the Federal Act on invalidity insurance of 19 June 1959 (Bundesgesetz 眉ber die Invalidenversicherung / Loi f茅d茅rale sur l鈥檃ssurance-invalidit茅 / Legge federale su l鈥檃ssicurazione per l鈥檌nvalidit脿);

(iii) the Federal Act on supplementary pensions in respect of old age, widows鈥� / widowers鈥� and orphans鈥� and invalidity insurance of 19 March 1965 (Bundesgesetz 眉ber Erg盲nzungsleistungen zur Alters-, Hinterlassenen- und Invalidenversicherung / Loi f茅d茅rale sur les prestations compl茅mentaires 脿 l鈥檃ssurance-vieillesse, survivants et invalidit茅 / Legge federale sulle prestazioni complementari al l鈥檃ssicurazione per la vecchiaia, i superstiti e l鈥檌nvalidit脿);

(iv) the Federal Act on old age, widows鈥� / widowers鈥� and orphans鈥� and invalidity insurance payable in respect of employment or self-employment of 25 June 1982 (Bundesgesetz 眉ber die berufliche Alters-, Hinterlassenen- und Invalidenvorsorge / Loi f茅d茅rale sur la pr茅voyance professionnelle vieillesse, survivants et invalidit茅 / Legge federale sulla previdenza professionale per la vecchiaia, i superstiti e l鈥檌nvalidit脿), including the non-registered pension schemes which offer professional pension plans, and

(v) the forms of individual recognised pension schemes comparable with the professional pension plans, in accordance with article 82 of the Federal Act on old age, widows鈥� / widowers鈥� and orphans鈥� and invalidity insurance payable in respect of employment or self-employment of 25 June 1982 (Bundesgesetz 眉ber die berufliche Alters-, Hinterlassenen- und Invalidenvorsorge / Loi f茅d茅rale sur la pr茅voyance professionnelle vieillesse, survivants et invalidit茅 / Legge federale sulla previdenza professionale per la vecchiaia, i superstiti e l鈥檌nvalidit脿);

(b) in the case of the United Kingdom

Pension schemes (other than a social security scheme) registered under Part 4 of the Finance Act 2004.

鈥淧ension scheme鈥� includes pension funds or pension schemes arranged through insurance companies and unit trusts where the unit holders are exclusively pension schemes.

The competent authorities may agree to include in the above lists pension schemes of identical or substantially similar economic or legal nature which are introduced by way of statute or legislation in either State after the date of signature of this Memorandum of Understanding. Such inclusions shall be made based on mutually agreed amendments to this Memorandum.

Done in duplicate at London this 12th day of February 2008 in the English and German languages, both texts being equally authoritative.

For the United Kingdom: Douglas Rankin

For Switzerland: J眉rg Giraudi