{"annotation_id":"667791b1-eec4-46ac-891a-957869e2d286","file_hash":"e5f6921a6aaf3c1dcb849c576d734e4f58b91f9b2d6e6d178aa4488310d9dd0b","schema_id":"open/document-extraction","schema_version":"0.5.0","record":{"extraction_type":"boxes","producer":"pdf-extractor-v0.5.0","blocks":[{"id":"fe3f77d8-9dc0-4249-aa5a-23b993ea9419","block_type":"box","text":"SSGA SPDR ETFs Europe I","page_number":1,"box":{"x":388,"y":76,"width":193,"height":10}},{"id":"8357e356-1065-404e-b17a-c12ab096f346","block_type":"box","text":"I","page_number":1,"box":{"x":583,"y":76,"width":3,"height":8}},{"id":"e4d7430c-2e30-4f6e-82fd-3724d9c13e2a","block_type":"box","text":"plc","page_number":1,"box":{"x":592,"y":76,"width":20,"height":10}},{"id":"f964e86c-68bb-48b7-8018-49cbcae90e58","block_type":"box","text":"(THE “COMPANY”)","page_number":1,"box":{"x":432,"y":88,"width":136,"height":10}},{"id":"b6ef4e13-561d-4a6b-ac25-4d8e8bf5baf1","block_type":"box","text":"COUNTRY SUPPLEMENT","page_number":1,"box":{"x":141,"y":113,"width":181,"height":8}},{"id":"4a905b5b-f194-4faa-854c-1482ad004169","block_type":"box","text":"-","page_number":1,"box":{"x":328,"y":117,"width":4,"height":1}},{"id":"bb70d7af-dfd0-4b8b-8e6b-0e9aa38c1205","block_type":"box","text":"ADDITIONAL INFORMATION FOR INVESTORS","page_number":1,"box":{"x":336,"y":113,"width":331,"height":8}},{"id":"9337139f-c205-45b8-9da4-0c2ca490b52f","block_type":"box","text":"IN","page_number":1,"box":{"x":673,"y":113,"width":14,"height":7}},{"id":"f02a62b3-d803-4c3a-abd8-636e7c3266d0","block_type":"box","text":"THE UN","page_number":1,"box":{"x":692,"y":113,"width":55,"height":8}},{"id":"e591ff4d-65fe-4a2a-901b-bfb64345e52f","block_type":"box","text":"ITED KINGDOM","page_number":1,"box":{"x":749,"y":113,"width":110,"height":8}},{"id":"8756bc08-1096-4a4e-b19a-f86fa16fc29e","block_type":"box","text":"Dated:","page_number":1,"box":{"x":87,"y":150,"width":44,"height":8}},{"id":"03416137-bb51-445e-9821-3f56a784aac3","block_type":"box","text":"29","page_number":1,"box":{"x":137,"y":150,"width":16,"height":8}},{"id":"9f148c79-5837-4406-9032-f286b7ff2548","block_type":"box","text":"July","page_number":1,"box":{"x":158,"y":150,"width":30,"height":10}},{"id":"afc8e25a-0dd0-46d1-a207-25fad3926e88","block_type":"box","text":"2026","page_number":1,"box":{"x":193,"y":150,"width":33,"height":8}},{"id":"80236a62-387f-4bdf-8df4-e8a7671a909a","block_type":"box","text":"This Country Supplement forms part of, and should be read in the context of, the Company’s latest Prospectus, as","page_number":1,"box":{"x":86,"y":174,"width":827,"height":10}},{"id":"47d8c86f-6a83-4912-89e3-80a12e75c5b2","block_type":"box","text":"may be amended and supplemented from time to time.","page_number":1,"box":{"x":86,"y":186,"width":390,"height":11}},{"id":"91bea894-d6de-4631-8b92-b80585dea363","block_type":"box","text":"1.","page_number":1,"box":{"x":87,"y":223,"width":10,"height":8}},{"id":"07c136da-0b1a-4f00-9f04-15ab52f790a5","block_type":"box","text":"Legal basis and distribution in","page_number":1,"box":{"x":110,"y":223,"width":221,"height":10}},{"id":"b4b09def-9abe-47c7-a486-04e036465536","block_type":"box","text":"the United Kingdom","page_number":1,"box":{"x":337,"y":223,"width":145,"height":10}},{"id":"0bf4393d-9e11-43bf-a740-204db924bb95","block_type":"box","text":"This document is issued in accordance with the relevant provisions of the Financial Services and Markets Act 2000 (\"FSMA\"),","page_number":1,"box":{"x":86,"y":248,"width":827,"height":10}},{"id":"1a629e16-4c24-407b-a49e-7f0ec9b98f49","block_type":"box","text":"as amended, and the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (SI 2019/325). The","page_number":1,"box":{"x":86,"y":260,"width":827,"height":10}},{"id":"0c50592b-68dd-4b80-b13b-acbd0628efd6","block_type":"box","text":"Company and its sub","page_number":1,"box":{"x":86,"y":272,"width":148,"height":11}},{"id":"af3c0a93-79a6-492a-92ba-ac09d7cafe53","block_type":"box","text":"-","page_number":1,"box":{"x":235,"y":277,"width":4,"height":1}},{"id":"bc86d2ab-bd71-44a5-a409-eea32acc3b23","block_type":"box","text":"funds (the \"Sub","page_number":1,"box":{"x":240,"y":272,"width":108,"height":11}},{"id":"9d93b672-5a26-4f80-85dc-b9a56adac150","block_type":"box","text":"-","page_number":1,"box":{"x":348,"y":277,"width":5,"height":1}},{"id":"3ba1f721-6664-44a6-9518-fa4ca70a37f5","block_type":"box","text":"Funds\") are recognized by the Financial Conduct Authority (\"FCA\") in the United","page_number":1,"box":{"x":355,"y":272,"width":558,"height":11}},{"id":"e2ad17d2-76c7-4e38-8bc5-51d844359036","block_type":"box","text":"Kingdom under the Overseas Funds Regime (\"OFR\") pursuant to section 271A of FSMA.","page_number":1,"box":{"x":87,"y":285,"width":592,"height":10}},{"id":"31f2f09b-6676-4346-9f26-d7ab273420ad","block_type":"box","text":"2.","page_number":1,"box":{"x":86,"y":309,"width":11,"height":8}},{"id":"19369be0-3b71-4f7e-b5e5-b864c41f3956","block_type":"box","text":"Facilities for investors","page_number":1,"box":{"x":110,"y":309,"width":162,"height":8}},{"id":"ce2ad831-cbec-4e8e-a392-25ce64282759","block_type":"box","text":"in","page_number":1,"box":{"x":279,"y":309,"width":12,"height":8}},{"id":"42f2b588-b815-48ca-a051-42a6ee0cd512","block_type":"box","text":"the United Kingdom","page_number":1,"box":{"x":296,"y":309,"width":146,"height":10}},{"id":"0ca500fc-39d4-4dd6-b839-23a2c3aaddd6","block_type":"box","text":"In accordance with COLL 9.4 (Facilities in the United Kingdom for recognised schemes) of the FCA Handbook, the Company","page_number":1,"box":{"x":87,"y":334,"width":827,"height":10}},{"id":"e8ed8f8e-5798-475c-ae9e-7af506242e39","block_type":"box","text":"has appointed the following","page_number":1,"box":{"x":86,"y":346,"width":182,"height":10}},{"id":"b8a8ce90-b7b2-4a9e-a2bc-5cdcc0b29e5e","block_type":"box","text":"entity","page_number":1,"box":{"x":274,"y":346,"width":35,"height":10}},{"id":"2c28c1ee-0351-4d78-97cf-d7d3425d3b61","block_type":"box","text":"as its Facilities Agent for investors in the United Kingdom:","page_number":1,"box":{"x":314,"y":346,"width":384,"height":10}},{"id":"2f722bfe-ccea-4449-814f-2830d20b2123","block_type":"box","text":"Facilities Agent","page_number":1,"box":{"x":87,"y":371,"width":110,"height":10}},{"id":"d137f07b-1056-45e6-bd4f-12af197d09d0","block_type":"box","text":"State Street Global Advisors Limited","page_number":1,"box":{"x":86,"y":383,"width":241,"height":8}},{"id":"7d2ea89d-65ab-47ec-a6c4-e900c9250969","block_type":"box","text":"20 Churchill Place","page_number":1,"box":{"x":86,"y":395,"width":121,"height":8}},{"id":"1ad7dde9-c0e2-4efd-b0ab-91287e120e04","block_type":"box","text":"Canary Wharf","page_number":1,"box":{"x":86,"y":408,"width":93,"height":10}},{"id":"a312cb68-bf15-4122-a51c-39cc8e7fd851","block_type":"box","text":"London E14 5HJ","page_number":1,"box":{"x":87,"y":420,"width":110,"height":8}},{"id":"b79273c9-64f6-419c-9834-7a91009c9c0b","block_type":"box","text":"United Kingdom","page_number":1,"box":{"x":87,"y":432,"width":105,"height":10}},{"id":"e4a84e5b-16a6-4d13-8bf2-35fe478b7f5f","block_type":"box","text":"You can find more details about how to contact the Facilit","page_number":1,"box":{"x":85,"y":457,"width":423,"height":8}},{"id":"e9fba760-0603-46d6-9bfd-8523f346b6b8","block_type":"box","text":"ies","page_number":1,"box":{"x":510,"y":457,"width":18,"height":8}},{"id":"f6c03bd2-73a6-4c99-83b9-def1be22936b","block_type":"box","text":"Agent in the \"Contact Us\" section of the website at:","page_number":1,"box":{"x":537,"y":457,"width":376,"height":10}},{"id":"e9ba763d-397d-4d46-933b-1ca89773f966","block_type":"box","text":"www.statestreet.com/im","page_number":1,"box":{"x":85,"y":470,"width":160,"height":8}},{"id":"73acc14f-2897-45c7-bfb0-48c9051b343b","block_type":"box","text":".","page_number":1,"box":{"x":248,"y":477,"width":2,"height":1}},{"id":"086b492c-0846-4eac-952b-8c7f36d99e60","block_type":"box","text":"At the office of the","page_number":1,"box":{"x":85,"y":495,"width":125,"height":8}},{"id":"4ecc678b-63b8-43e5-9ed0-13cc99c57d2e","block_type":"box","text":"Facilities Agent","page_number":1,"box":{"x":216,"y":495,"width":103,"height":10}},{"id":"5ddcc6fd-e531-4e80-97dc-dab2a79cff9a","block_type":"box","text":", any person may","page_number":1,"box":{"x":321,"y":497,"width":117,"height":8}},{"id":"9675ef77-2114-4887-a273-9c9ae8be7192","block_type":"box","text":":","page_number":1,"box":{"x":440,"y":497,"width":2,"height":6}},{"id":"b05d20de-6978-40e6-b922-0ad647195388","block_type":"box","text":"1.","page_number":1,"box":{"x":117,"y":507,"width":10,"height":8}},{"id":"ada39816-b37f-4145-8a9c-c186befe0539","block_type":"box","text":"Inspect (free of charge) a copy (in English) of:","page_number":1,"box":{"x":147,"y":507,"width":311,"height":10}},{"id":"c4e81bf6-dea5-41a4-b6e9-bfc1aa8f670a","block_type":"box","text":"(a) the Fund’s","page_number":1,"box":{"x":207,"y":519,"width":94,"height":11}},{"id":"03faac84-ec2b-479a-9cb5-92516817f6c9","block_type":"box","text":"Articles of","page_number":1,"box":{"x":306,"y":519,"width":69,"height":8}},{"id":"a67ef2b9-cb17-4b47-8301-abce7ae080d0","block_type":"box","text":"Incorporation and any amendments thereto;","page_number":1,"box":{"x":380,"y":520,"width":297,"height":10}},{"id":"8699a10b-7515-42ce-a462-cda167d08d9f","block_type":"box","text":"(b) the most recent Prospectus issued by the Fund;","page_number":1,"box":{"x":207,"y":532,"width":348,"height":10}},{"id":"2bf6b597-d473-480e-a718-86fe5c57950d","block_type":"box","text":"(c) the","page_number":1,"box":{"x":207,"y":544,"width":43,"height":10}},{"id":"80379e35-fe9e-4a35-a09b-5b0d4d722b1e","block_type":"box","text":"Key Investor Information","page_number":1,"box":{"x":256,"y":544,"width":165,"height":10}},{"id":"a291428e-0e5d-4b9a-8ce8-1b7ab4499379","block_type":"box","text":"Document(s);","page_number":1,"box":{"x":428,"y":544,"width":90,"height":10}},{"id":"bd92f516-5628-4b33-8dca-dd9b13db1835","block_type":"box","text":"(d)","page_number":1,"box":{"x":207,"y":556,"width":18,"height":11}},{"id":"4388d15a-4832-40a9-8085-3c2853a2730e","block_type":"box","text":"the","page_number":1,"box":{"x":230,"y":557,"width":21,"height":7}},{"id":"baf7a762-a2f0-424d-be9b-67c597d9a928","block_type":"box","text":"latest","page_number":1,"box":{"x":257,"y":557,"width":35,"height":7}},{"id":"d6886435-b181-44e5-b193-48ee83957d15","block_type":"box","text":"annual and semi","page_number":1,"box":{"x":297,"y":557,"width":112,"height":7}},{"id":"962c86b8-f272-4806-8153-493b46d797dd","block_type":"box","text":"-","page_number":1,"box":{"x":411,"y":561,"width":4,"height":1}},{"id":"d0988271-7a92-4740-9bcf-60bdd5b5e1f4","block_type":"box","text":"annual reports","page_number":1,"box":{"x":416,"y":557,"width":98,"height":9}},{"id":"24c2d8a5-3993-47af-b4a1-cf133cde581b","block_type":"box","text":"of the","page_number":1,"box":{"x":520,"y":556,"width":37,"height":8}},{"id":"b3d14cff-0590-49b7-bcbe-afe08b964809","block_type":"box","text":"Fund;","page_number":1,"box":{"x":563,"y":557,"width":37,"height":9}},{"id":"8ccd4c65-5e41-4d79-be15-e36e521d733c","block_type":"box","text":"(e) any other documents required from time to time by COLL 9.4","page_number":1,"box":{"x":207,"y":569,"width":438,"height":10}},{"id":"c01e218f-951f-4774-910f-a3283073d146","block_type":"box","text":".","page_number":1,"box":{"x":648,"y":576,"width":1,"height":1}},{"id":"b248b096-a628-4f87-9d21-4b8140508cc2","block_type":"box","text":"2.","page_number":1,"box":{"x":116,"y":581,"width":11,"height":8}},{"id":"f821afec-63c6-481c-b69c-a039de310e90","block_type":"box","text":"Obtain a copy of the above documents (free of charge for items (b), (c), and (d)).","page_number":1,"box":{"x":147,"y":581,"width":548,"height":10}},{"id":"3011a0b9-acf8-492c-af93-84ce9674512f","block_type":"box","text":"3.","page_number":1,"box":{"x":116,"y":593,"width":11,"height":8}},{"id":"07ca45e2-98aa-43d4-987a-0fe2e5f12eb2","block_type":"box","text":"Obtain information (in English) about the prices of shares.","page_number":1,"box":{"x":147,"y":593,"width":392,"height":10}},{"id":"2da62600-2e5d-4fbf-a573-8e12f56137dc","block_type":"box","text":"4.","page_number":1,"box":{"x":116,"y":606,"width":11,"height":7}},{"id":"48d3090b-3cf2-417b-a40c-ef4928f9a222","block_type":"box","text":"Redeem or arrange for the redemption of shares in a Sub","page_number":1,"box":{"x":147,"y":606,"width":391,"height":10}},{"id":"806a27d5-ca7b-48ff-9bc3-ab5f3c1420e0","block_type":"box","text":"-","page_number":1,"box":{"x":539,"y":610,"width":4,"height":1}},{"id":"a851e912-af99-431e-a0f7-d69fe0eecdde","block_type":"box","text":"Fund by the administrator of the Fund, who will","page_number":1,"box":{"x":546,"y":606,"width":319,"height":10}},{"id":"7ab4ed2e-a987-4df7-8ce8-be11cd2136ef","block_type":"box","text":"ensure payment is made in relation to such redemption.","page_number":1,"box":{"x":146,"y":618,"width":379,"height":10}},{"id":"34779935-8521-4d41-abfd-79f14ab248ad","block_type":"box","text":"In the case of ETFs, this facility is available only to","page_number":1,"box":{"x":533,"y":618,"width":344,"height":10}},{"id":"232762f3-f962-4ac7-8bd8-5d391f062363","block_type":"box","text":"shareholders eligible to transact in the primary market.","page_number":1,"box":{"x":146,"y":630,"width":371,"height":10}},{"id":"86028397-ee84-405d-9ca0-1aa5bb8cdad2","block_type":"box","text":"5.","page_number":1,"box":{"x":116,"y":643,"width":11,"height":8}},{"id":"53127ea8-eeff-45b2-91ae-3366968690b1","block_type":"box","text":"Make a complaint about the operation of the Fund to the Facilities Agent, who will transmit the complaint to the","page_number":1,"box":{"x":147,"y":643,"width":754,"height":10}},{"id":"c13ce8ef-31d3-470b-b9cd-9f043605e719","block_type":"box","text":"Fund.","page_number":1,"box":{"x":147,"y":655,"width":37,"height":8}},{"id":"9650dce5-6d2d-4a90-9ed8-efff98bae044","block_type":"box","text":"6.","page_number":1,"box":{"x":116,"y":667,"width":11,"height":8}},{"id":"d8161717-8317-4bd3-b7a6-10aba22bd825","block_type":"box","text":"Obtain free of charge details or copies of any notices which have been given or sent to shareholders.","page_number":1,"box":{"x":147,"y":667,"width":687,"height":10}},{"id":"aae5a9e3-9fd6-4319-85ee-f00eb9dbd70c","block_type":"box","text":"7.","page_number":1,"box":{"x":116,"y":680,"width":11,"height":7}},{"id":"8915aadd-66b2-416f-97d3-f749172eb9b1","block_type":"box","text":"Provide information to enable the Management Company to maintain a record of each Shareholder’s full name","page_number":1,"box":{"x":147,"y":679,"width":753,"height":11}},{"id":"d7635fd0-7e0e-4179-8bd7-de11baf281cb","block_type":"box","text":"and address and any other required details.","page_number":1,"box":{"x":146,"y":692,"width":297,"height":10}},{"id":"446ca6fe-1ea1-4761-a39b-0d9a898e9317","block_type":"box","text":"3.","page_number":1,"box":{"x":86,"y":716,"width":11,"height":8}},{"id":"04f20618-2f0f-4059-a8ad-a9038e09709d","block_type":"box","text":"Access to legal and regulatory documents","page_number":1,"box":{"x":109,"y":716,"width":310,"height":10}},{"id":"b98b821d-ca00-4bf7-adb0-aa24efa627a5","block_type":"box","text":"The following documents are available free of charge from the Facilities Agent and at the registered office of the Company:","page_number":1,"box":{"x":86,"y":741,"width":826,"height":10}},{"id":"4613e756-cc65-4c38-a988-c88bc2cd96f5","block_type":"box","text":"-","page_number":1,"box":{"x":116,"y":758,"width":4,"height":1}},{"id":"505afe90-11c2-4719-a940-e9ac5317d06b","block_type":"box","text":"The Prospectus and its Supplements;","page_number":1,"box":{"x":146,"y":753,"width":255,"height":10}},{"id":"24e5530e-a875-4a02-8523-bd478b6c78eb","block_type":"box","text":"-","page_number":1,"box":{"x":116,"y":770,"width":4,"height":1}},{"id":"e8a977d9-fed6-4b32-acff-d480d490a212","block_type":"box","text":"The latest Key Investor Information Documents (UCITS KIIDs)","page_number":1,"box":{"x":146,"y":765,"width":424,"height":11}},{"id":"2e89a63e-9af0-400a-b2b2-76ae0ad04ad2","block_type":"box","text":";","page_number":1,"box":{"x":573,"y":768,"width":1,"height":7}},{"id":"a61fc4ab-2416-4eed-9445-72fe151dbfc1","block_type":"box","text":"-","page_number":1,"box":{"x":116,"y":782,"width":4,"height":1}},{"id":"871620b5-7436-4c2d-9851-0ad6e9930bf1","block_type":"box","text":"The Memorandum and Articles of Association;","page_number":1,"box":{"x":146,"y":778,"width":314,"height":9}},{"id":"48f1612e-7248-477f-8093-40856c837016","block_type":"box","text":"-","page_number":1,"box":{"x":116,"y":795,"width":4,"height":1}},{"id":"68858d77-f572-49c2-9d31-f03df786791d","block_type":"box","text":"Annual and semi","page_number":1,"box":{"x":146,"y":790,"width":114,"height":8}},{"id":"36e56cca-8e01-40d0-b2a2-888127759d45","block_type":"box","text":"-","page_number":1,"box":{"x":261,"y":795,"width":5,"height":1}},{"id":"7ff4769a-f13d-4893-a34f-c11ce4c3275c","block_type":"box","text":"annual financial reports.","page_number":1,"box":{"x":267,"y":790,"width":162,"height":10}},{"id":"73960279-b776-4a62-9f73-274bc9e20d3f","block_type":"box","text":"Additionally, documents may be accessed online at","page_number":1,"box":{"x":85,"y":815,"width":351,"height":10}},{"id":"15bab4b7-5cbf-4436-84fa-faf7b4217279","block_type":"box","text":"www.statestreet.com/im","page_number":1,"box":{"x":441,"y":815,"width":159,"height":8}},{"id":"8fec6db9-c345-4004-ad01-07c679587c46","block_type":"box","text":".","page_number":1,"box":{"x":603,"y":821,"width":2,"height":1}},{"id":"ec537448-31b1-41ba-b88e-e63027781e41","block_type":"box","text":"4.","page_number":1,"box":{"x":86,"y":839,"width":11,"height":8}},{"id":"aea151bf-29a2-4e0f-a50d-f1309a8a36cf","block_type":"box","text":"Publication of prices and notices to shareholders","page_number":1,"box":{"x":110,"y":839,"width":361,"height":10}},{"id":"89c32a30-fbbd-4e01-b49e-bca98e79a98f","block_type":"box","text":"The net asset value (NAV) per share of each sub","page_number":1,"box":{"x":86,"y":864,"width":352,"height":10}},{"id":"b0aa4e74-5784-4fd1-ac91-1df5e32df69b","block_type":"box","text":"-","page_number":1,"box":{"x":439,"y":868,"width":4,"height":1}},{"id":"ef00ce10-a1eb-4c14-a237-e97d7d3a4150","block_type":"box","text":"fund is published daily on Bloomberg and the Company’s website.","page_number":1,"box":{"x":444,"y":864,"width":468,"height":10}},{"id":"e7ec4f72-0dd4-4b10-a797-63a69f51b83d","block_type":"box","text":"Notices to shareholders will be made available in accordance with legal requirements.","page_number":1,"box":{"x":87,"y":876,"width":634,"height":10}},{"id":"a9ca657b-956a-48f7-957e-72eaae2ee234","block_type":"box","text":"The NAV and notices to","page_number":1,"box":{"x":733,"y":876,"width":181,"height":8}},{"id":"6c6ebeed-c898-40a1-9947-2ae81746d518","block_type":"box","text":"shareholders will be made available on","page_number":1,"box":{"x":86,"y":889,"width":265,"height":7}},{"id":"988500dd-5038-42ff-a0cf-d7877243ec8d","block_type":"box","text":"www.statestreet.com/im","page_number":1,"box":{"x":357,"y":888,"width":160,"height":8}},{"id":"61a745c6-4a88-4667-b458-9cb9e82a2d49","block_type":"box","text":".","page_number":1,"box":{"x":519,"y":895,"width":2,"height":1}},{"id":"9a1e9312-6b20-41d8-9b4c-0dd5da017442","block_type":"box","text":"5.","page_number":2,"box":{"x":86,"y":76,"width":11,"height":8}},{"id":"c1afc2d2-508c-4262-b906-383ff5749031","block_type":"box","text":"Right to redress","page_number":2,"box":{"x":110,"y":76,"width":117,"height":10}},{"id":"23589311-0060-451f-a0c0-d2a5fd22b6dd","block_type":"box","text":"UK investors should note that they may not be able to refer complaints about the Company, the Management Company,","page_number":2,"box":{"x":87,"y":104,"width":825,"height":10}},{"id":"7f25ccff-4eba-4449-a457-3edaefe6c275","block_type":"box","text":"or the Depositary to the UK Financial Ombudsman Service. Additionally, investors will not be covered by the UK Financial","page_number":2,"box":{"x":86,"y":118,"width":826,"height":11}},{"id":"a471f84b-5b05-4bb6-aeb7-da45782a08f9","block_type":"box","text":"Services Compensation","page_number":2,"box":{"x":86,"y":133,"width":162,"height":10}},{"id":"15d3b73f-a8a5-43ac-aa2c-30ba10e07c0d","block_type":"box","text":"Scheme or by an equivalent compensation scheme in Ireland in the event of the default of the","page_number":2,"box":{"x":256,"y":133,"width":657,"height":10}},{"id":"41d57583-eefe-4c0b-9c69-0de2054e1e69","block_type":"box","text":"Company, the Management Company, or the Depositary.","page_number":2,"box":{"x":86,"y":147,"width":389,"height":10}},{"id":"0924174d-3aea-427a-8a12-0c73399b0f22","block_type":"box","text":"However, complaints regarding the operation of the Company or its sub","page_number":2,"box":{"x":87,"y":176,"width":487,"height":10}},{"id":"42076543-f624-48e9-9096-2e6a8e51703f","block_type":"box","text":"-","page_number":2,"box":{"x":575,"y":180,"width":4,"height":1}},{"id":"ad668a9d-4c4c-4477-8430-c5e1680a2b2f","block_type":"box","text":"funds may be submitted free of charge to the UK","page_number":2,"box":{"x":580,"y":176,"width":334,"height":10}},{"id":"15033648-6980-4006-872f-fb6433035ff4","block_type":"box","text":"Facilities Agent, who will transmit them to the Management Company in Ireland. The Management Company has","page_number":2,"box":{"x":87,"y":190,"width":825,"height":10}},{"id":"9da609da-a5fe-41af-a193-e71d6ae6237b","block_type":"box","text":"established a complaint handling","page_number":2,"box":{"x":86,"y":204,"width":231,"height":10}},{"id":"740935eb-7ae9-4b31-8e91-c8e81ffc5743","block_type":"box","text":"process in accordance with applicable Irish regulations. Investors may also submit","page_number":2,"box":{"x":326,"y":204,"width":588,"height":10}},{"id":"e625de56-89d6-4d60-8e09-ec6cf98eb48c","block_type":"box","text":"complaints directly to the Management Company:","page_number":2,"box":{"x":86,"y":218,"width":337,"height":10}},{"id":"c42ec889-517f-4d63-8b41-757158a9fba1","block_type":"box","text":"State Street Global Advisors Europe Limited","page_number":2,"box":{"x":86,"y":245,"width":301,"height":10}},{"id":"bd1c96a4-1abf-444c-a88a-ccebec810579","block_type":"box","text":"(the “Management Company”)","page_number":2,"box":{"x":394,"y":245,"width":205,"height":10}},{"id":"30a707ea-f1ff-409d-bb0d-e78321a433dc","block_type":"box","text":"78 Sir John Rogerson’s Quay","page_number":2,"box":{"x":86,"y":257,"width":201,"height":10}},{"id":"5b5f3d99-9a49-448b-a9fc-3c5fe6cdb353","block_type":"box","text":"Dublin 2","page_number":2,"box":{"x":87,"y":269,"width":54,"height":8}},{"id":"7782c5e9-7ce8-4e69-a078-fe580608089c","block_type":"box","text":"Ireland","page_number":2,"box":{"x":87,"y":282,"width":45,"height":8}},{"id":"30601b92-b100-4b35-8fea-6697730056f1","block_type":"box","text":"If you have a complaint about the Fund or the Manager, you can find more details about how to complain and the","page_number":2,"box":{"x":87,"y":308,"width":752,"height":11}},{"id":"2d7d4aeb-9a1b-47a5-91d4-611101527c27","block_type":"box","text":"Manager's complaint handling policy in the \"Contact Us\" section of the website at:","page_number":2,"box":{"x":87,"y":322,"width":542,"height":11}},{"id":"1ed9d8e1-62db-4294-863d-c26020b75cec","block_type":"box","text":"www.statestreet.com/im","page_number":2,"box":{"x":635,"y":322,"width":159,"height":8}},{"id":"17d86a25-6017-4b0f-8dbd-75f074f1f29c","block_type":"box","text":".","page_number":2,"box":{"x":797,"y":329,"width":2,"height":1}},{"id":"607cb49e-2d79-4e4a-bc35-60ca38bf52db","block_type":"box","text":"If a UK investor is dissatisfied with the handling of their complaint, they may escalate it to the Financial Services and","page_number":2,"box":{"x":87,"y":351,"width":825,"height":10}},{"id":"7d4a5006-1244-4ae2-826a-a23983500073","block_type":"box","text":"Pensions Ombudsman (FSPO) in Ireland. Contact details are available at:","page_number":2,"box":{"x":87,"y":365,"width":502,"height":11}},{"id":"f375b1bb-479b-4006-b5e3-b71f8f41e4ea","block_type":"box","text":"www.fspo.ie","page_number":2,"box":{"x":596,"y":365,"width":82,"height":10}},{"id":"6e5ac9f0-8fea-4056-a049-6e6850b34bcb","block_type":"box","text":"6.","page_number":2,"box":{"x":86,"y":392,"width":11,"height":8}},{"id":"af92c65b-f6c4-4744-8374-be94b5caf5e2","block_type":"box","text":"U.K. Tax Considerations","page_number":2,"box":{"x":110,"y":392,"width":177,"height":8}},{"id":"74f165d9-90d5-437b-b1c6-76dbb5a166e4","block_type":"box","text":"The following information is a summary of the anticipated tax treatment in the United Kingdom (the “U.K.”). This information","page_number":2,"box":{"x":86,"y":416,"width":826,"height":11}},{"id":"fc02fa79-8341-4525-ac4b-b57626d342b2","block_type":"box","text":"is based on the law as enacted in the U.K. on the date of this Supplement, is subject to changes therein (possibly with","page_number":2,"box":{"x":86,"y":429,"width":826,"height":10}},{"id":"2cc276b0-b368-456c-ba20-c7a8b4a1f98a","block_type":"box","text":"retrospecti","page_number":2,"box":{"x":86,"y":441,"width":71,"height":10}},{"id":"7b124a65-aaf7-457e-9693-988817b2e793","block_type":"box","text":"ve effect) and is not exhaustive. The summary applies only to persons who hold their Shares beneficially as an","page_number":2,"box":{"x":158,"y":441,"width":754,"height":10}},{"id":"124bc3aa-6281-49b3-9405-5f82b9bdf101","block_type":"box","text":"investment and not for trading or other purposes and (save where expressly referred to) who are resident in the U.K. for","page_number":2,"box":{"x":86,"y":453,"width":827,"height":10}},{"id":"7d8b8796-f47c-4543-82b5-7db6de55f6fb","block_type":"box","text":"U.K. tax purposes. Prosp","page_number":2,"box":{"x":87,"y":466,"width":168,"height":10}},{"id":"075f30b5-0c5d-4f38-8ff5-3037ff0f0f67","block_type":"box","text":"ective investors should consult their own professional advisors if they are in any doubt about their","page_number":2,"box":{"x":256,"y":466,"width":658,"height":10}},{"id":"b7c0904e-00c7-4a30-ab71-ada29e8fb99d","block_type":"box","text":"position.","page_number":2,"box":{"x":86,"y":478,"width":56,"height":10}},{"id":"96510cbb-3a3d-4ac1-8803-0c0fa0c2cbc6","block_type":"box","text":"The following information does not constitute legal or tax advice. Prospective investors should consult their own","page_number":2,"box":{"x":86,"y":503,"width":826,"height":10}},{"id":"da921f9f-b96f-4f08-afee-242e215474ef","block_type":"box","text":"professional advisors on the implications of making an investment in, and holding or disposing of Shares and the receipt","page_number":2,"box":{"x":86,"y":515,"width":827,"height":10}},{"id":"cc597067-fecf-4a6c-9d0f-543c4c33b4fd","block_type":"box","text":"of distributions with","page_number":2,"box":{"x":86,"y":527,"width":130,"height":8}},{"id":"b14592dc-bd5b-4ab8-82fe-f0a772f67383","block_type":"box","text":"respect to such Shares under the law of the countries in which they are liable to taxation.","page_number":2,"box":{"x":223,"y":527,"width":604,"height":10}},{"id":"32eb9f3f-e1ec-4d67-8548-1fc0076477d7","block_type":"box","text":"Taxation of the Company","page_number":2,"box":{"x":87,"y":552,"width":172,"height":10}},{"id":"3f2b6528-ec72-4dec-8919-38f24de79151","block_type":"box","text":"The Directors intend that the affairs of the Company should be managed and conducted so that it does not become resident","page_number":2,"box":{"x":86,"y":564,"width":827,"height":10}},{"id":"56871b7e-e8f9-4e9b-8a03-834cff8a6ffa","block_type":"box","text":"in the U.K. for U.K. taxation purposes. Accordingly, and provided that the Company does not carry on a trade in the U.K.","page_number":2,"box":{"x":86,"y":576,"width":826,"height":10}},{"id":"04b8d4ab-51f8-4718-be6c-571ce210b860","block_type":"box","text":"through a perm","page_number":2,"box":{"x":86,"y":589,"width":107,"height":10}},{"id":"fe79ff4f-002a-493b-af4b-ee7add5c01ab","block_type":"box","text":"anent establishment situated in the U.K. for corporation tax purposes, or through a branch or agency","page_number":2,"box":{"x":195,"y":588,"width":718,"height":11}},{"id":"91da562c-892f-43fa-ba6a-30220eceeeda","block_type":"box","text":"situated in the U.K. which would bring the Company within the charge to income tax, the Company will not be subject to","page_number":2,"box":{"x":86,"y":601,"width":827,"height":10}},{"id":"460cf139-c21e-4e29-b51f-75bac6f10640","block_type":"box","text":"U.K. corporation tax or income tax o","page_number":2,"box":{"x":87,"y":613,"width":251,"height":10}},{"id":"c721abaf-8c2b-4fcc-a4b0-03d48dc7ad09","block_type":"box","text":"n income and capital gains arising to it save as noted below in relation to possible","page_number":2,"box":{"x":340,"y":613,"width":573,"height":10}},{"id":"dc19cc3a-769d-418b-940c-4091ef502620","block_type":"box","text":"withholding tax on certain U.K. source income. The Directors intend that the affairs of the Company are conducted so that","page_number":2,"box":{"x":85,"y":625,"width":828,"height":11}},{"id":"bbacd205-f1de-4e0e-b320-fff381b7ec7c","block_type":"box","text":"no such permanent establishment, branch or agency","page_number":2,"box":{"x":86,"y":638,"width":373,"height":10}},{"id":"4d536995-770c-459e-89b1-894727a1bd67","block_type":"box","text":"will arise insofar as this is within their control, but it cannot be","page_number":2,"box":{"x":466,"y":638,"width":447,"height":9}},{"id":"2ffc3e9a-a028-4c32-80e7-8b8e0b91316a","block_type":"box","text":"guaranteed that the conditions necessary to prevent any such permanent establishment, branch or agency coming into","page_number":2,"box":{"x":86,"y":650,"width":827,"height":10}},{"id":"31953678-ada8-4a3b-b07c-befef2d81e75","block_type":"box","text":"being will at all times be satisfied. Interest and other income receive","page_number":2,"box":{"x":86,"y":662,"width":469,"height":10}},{"id":"426e5c21-767a-4da0-a19f-110c0672ed81","block_type":"box","text":"d by the Company which has a U.K. source may be","page_number":2,"box":{"x":557,"y":662,"width":356,"height":10}},{"id":"58695111-e838-4ec6-aedd-5914120bb74e","block_type":"box","text":"subject to withholding taxes in the U.K..","page_number":2,"box":{"x":86,"y":675,"width":268,"height":10}},{"id":"50567a1f-5064-4de2-a767-ffeb00f1296a","block_type":"box","text":"Taxation of Shareholders","page_number":2,"box":{"x":87,"y":699,"width":171,"height":8}},{"id":"f99b017b-89bf-44c3-a1dc-fec3ed1950fb","block_type":"box","text":"Subject to their personal tax position, Shareholders resident in the UK may be liable to UK income tax or corporation tax in","page_number":2,"box":{"x":86,"y":712,"width":827,"height":10}},{"id":"684cfaf0-e265-4861-aa5b-5107eedb1b4f","block_type":"box","text":"respect of any dividends or other income distributions of the Company and any dividends funded out of realised capital profit","page_number":2,"box":{"x":86,"y":724,"width":821,"height":10}},{"id":"9cc73672-260e-4995-8105-2ca0bfa3a144","block_type":"box","text":"s","page_number":2,"box":{"x":907,"y":726,"width":7,"height":6}},{"id":"7f505b04-eea7-4044-bb6c-bafe1a915066","block_type":"box","text":"of t","page_number":2,"box":{"x":86,"y":736,"width":20,"height":8}},{"id":"3d345b76-3211-4bd1-ab64-82c6c0729bf4","block_type":"box","text":"he Company.","page_number":2,"box":{"x":108,"y":736,"width":87,"height":10}},{"id":"1fa83111-7c55-4971-a0d7-a7b268cc75dd","block_type":"box","text":"Under Part 9A of the Corporation Tax Act 2009, dividend distributions made by an offshore fund to companies resident in the","page_number":2,"box":{"x":87,"y":761,"width":826,"height":10}},{"id":"379194c3-432b-47a0-b33f-3f7589deb1ca","block_type":"box","text":"UK are likely to fall within one of a number of exemptions from UK corporation tax. In addition, distributions to non","page_number":2,"box":{"x":87,"y":773,"width":800,"height":10}},{"id":"67385bdb-d2fa-4b2a-83b3-8b7f90f9571a","block_type":"box","text":"-","page_number":2,"box":{"x":889,"y":777,"width":4,"height":1}},{"id":"664daadd-ab1c-4779-9d1c-d5f69e59a33c","block_type":"box","text":"UK","page_number":2,"box":{"x":895,"y":773,"width":19,"height":8}},{"id":"cd02765e-775d-4129-813f-3a8f8f0e6e81","block_type":"box","text":"companies c","page_number":2,"box":{"x":86,"y":785,"width":85,"height":10}},{"id":"48ba239c-f9f4-43de-a73b-65fa51062939","block_type":"box","text":"arrying on a trade in the UK through a permanent establishment in the UK should also fall within the exemption","page_number":2,"box":{"x":172,"y":785,"width":741,"height":10}},{"id":"05f6f06b-edc2-4c0d-8436-6828e3d96ca9","block_type":"box","text":"from UK corporation tax on dividends to the extent that the shares held by that company are used by, or held for, that","page_number":2,"box":{"x":86,"y":798,"width":827,"height":10}},{"id":"793f4653-f63e-4b05-97f8-107ac9079481","block_type":"box","text":"permanent establishment. R","page_number":2,"box":{"x":86,"y":810,"width":189,"height":10}},{"id":"5051807b-fc90-4b5c-b0a3-67980115b21f","block_type":"box","text":"eported income will be treated in the same way as a dividend distribution for this purpos","page_number":2,"box":{"x":276,"y":810,"width":584,"height":10}},{"id":"2e04087c-a586-48ee-bb96-e1deb7bbd2ed","block_type":"box","text":"e.","page_number":2,"box":{"x":861,"y":812,"width":11,"height":6}},{"id":"3da8693a-2b3c-439a-a934-f4d0d30c1f20","block_type":"box","text":"Individual Shareholders resident in the U.K. for taxation purposes will, subject to their personal circumstances, be liable t","page_number":2,"box":{"x":87,"y":834,"width":818,"height":11}},{"id":"cff6a043-de75-4502-8e66-c8434ed9b68d","block_type":"box","text":"o","page_number":2,"box":{"x":906,"y":837,"width":8,"height":5}},{"id":"13494dd6-6552-4e93-87c2-b27ba5ef86ed","block_type":"box","text":"U.K. income tax in respect of any dividends or other distributions of income (including reportable income) whether or not suc","page_number":2,"box":{"x":87,"y":847,"width":818,"height":10}},{"id":"0fd9e55a-a58d-46fb-a914-813312b6e8ab","block_type":"box","text":"h","page_number":2,"box":{"x":907,"y":847,"width":6,"height":8}},{"id":"df3d5cde-1d3b-4eb2-90e3-7673ff97e9c0","block_type":"box","text":"di","page_number":2,"box":{"x":86,"y":859,"width":10,"height":8}},{"id":"16a1e88f-2806-4b96-bd27-8829168fe0c8","block_type":"box","text":"stributions are reinvested.","page_number":2,"box":{"x":98,"y":859,"width":175,"height":8}},{"id":"b20533be-acdd-4c86-bf3e-0b85073e1f60","block_type":"box","text":"A dividend","page_number":2,"box":{"x":281,"y":859,"width":72,"height":8}},{"id":"84b6975f-df1a-4f0f-9724-c8ad75da488e","block_type":"box","text":"allowance of £","page_number":2,"box":{"x":361,"y":859,"width":100,"height":8}},{"id":"0320e30f-03a8-4d25-b56f-58cb1d0762e1","block_type":"box","text":"500 should be available to such investors on dividends (including","page_number":2,"box":{"x":462,"y":859,"width":451,"height":10}},{"id":"96efda86-565f-49de-9dbf-dc2c2ea61c3d","block_type":"box","text":"reportable income) received from the Company. However, it should be noted that, as a result of","page_number":2,"box":{"x":86,"y":871,"width":650,"height":10}},{"id":"36b3bbf0-068c-45a3-8489-202dbdcafd36","block_type":"box","text":"anti","page_number":2,"box":{"x":742,"y":871,"width":23,"height":8}},{"id":"43a4b208-5403-4f5b-8115-3754f6d86d57","block_type":"box","text":"-","page_number":2,"box":{"x":766,"y":876,"width":4,"height":1}},{"id":"46afb925-8e6a-481b-b583-13bcc99b3e8b","block_type":"box","text":"avoidance rules such","page_number":2,"box":{"x":771,"y":871,"width":142,"height":8}},{"id":"ca9dd7b0-27ec-47fc-a18b-7016acefe05a","block_type":"box","text":"allowance","page_number":2,"box":{"x":86,"y":884,"width":66,"height":8}},{"id":"4b1a104d-302f-4f2e-9b10-6236c732cce1","block_type":"box","text":"will n","page_number":2,"box":{"x":156,"y":884,"width":32,"height":7}},{"id":"07cd51ae-335b-4183-9814-dbeca7edc0f9","block_type":"box","text":"ot be available to individual investors in any Class of a Fund where the market value of the Class’s investments","page_number":2,"box":{"x":190,"y":883,"width":724,"height":11}},{"id":"262bc718-1e23-4f27-b760-6bfd6c0c91e5","block_type":"box","text":"in debt instruments, securities and certain other offshore funds which invest in similar assets exceeds 60 per cent. of the","page_number":2,"box":{"x":86,"y":896,"width":827,"height":10}},{"id":"d006d094-c385-4d47-914a-694bada01208","block_type":"box","text":"market value of all","page_number":2,"box":{"x":86,"y":908,"width":122,"height":8}},{"id":"b5e46235-beed-4b8f-a20a-cfc6f7156a48","block_type":"box","text":"of","page_number":2,"box":{"x":215,"y":908,"width":12,"height":8}},{"id":"c2875b4a-59c8-454a-8c1b-b0fe80a382a9","block_type":"box","text":"the assets of the Class at any relevant time. Investors in these Classes will be treated as receiving an","page_number":2,"box":{"x":231,"y":908,"width":681,"height":10}},{"id":"9a3e55ef-7822-44e0-b111-ec003bc4c958","block_type":"box","text":"interest payment which will not carry the","page_number":2,"box":{"x":86,"y":921,"width":267,"height":10}},{"id":"f757b876-cfc5-43e3-935b-6537b16bd099","block_type":"box","text":"dividend allowance.","page_number":2,"box":{"x":359,"y":921,"width":129,"height":8}},{"id":"049d59ac-7980-4202-8608-432710bf73b5","block_type":"box","text":"Companies within the charge to U.K. corporation tax should generally be exempt from U.K. corporation tax on distributions","page_number":3,"box":{"x":86,"y":88,"width":827,"height":10}},{"id":"6cb2dc53-3397-4cca-bf60-af8971fce2b7","block_type":"box","text":"(including reportable income) made by the Company although it should be noted that this exemption is subject to certain","page_number":3,"box":{"x":86,"y":100,"width":826,"height":10}},{"id":"cacc1630-d207-4ac2-a2ba-6be24e3b3b09","block_type":"box","text":"exclusions and","page_number":3,"box":{"x":86,"y":113,"width":100,"height":8}},{"id":"c4f30699-47ef-4c17-b716-3ba39ac62695","block_type":"box","text":"specific anti","page_number":3,"box":{"x":192,"y":113,"width":80,"height":10}},{"id":"cb6a88f5-c0b5-48af-aa3c-8f3d40bcb028","block_type":"box","text":"-","page_number":3,"box":{"x":273,"y":117,"width":5,"height":1}},{"id":"7ef45f1b-3cca-4fc9-b139-541541bd436a","block_type":"box","text":"avoidance rules.","page_number":3,"box":{"x":279,"y":113,"width":111,"height":8}},{"id":"a0482fe9-6a45-4162-a1ca-fbc056d0f58c","block_type":"box","text":"Each Class will constitute an “offshore fund” for the purposes of the offshore fund legislation contained in Part 8 of the Ta","page_number":3,"box":{"x":87,"y":137,"width":786,"height":10}},{"id":"2db80e76-449b-4f45-ab41-df9829f06f2c","block_type":"box","text":"xation","page_number":3,"box":{"x":874,"y":137,"width":39,"height":8}},{"id":"995e7044-afde-4427-ab9d-3b9d7954439f","block_type":"box","text":"(International and Other Provisions) Act 2010. The legislation provides that any gain arising on the sale, redemption or oth","page_number":3,"box":{"x":86,"y":150,"width":814,"height":10}},{"id":"24cca27e-4ceb-422f-8dbc-7e1580971e0f","block_type":"box","text":"er","page_number":3,"box":{"x":902,"y":152,"width":13,"height":6}},{"id":"4891becb-78b6-469b-a106-7b1d2fd798ae","block_type":"box","text":"disposal of shares of an offshore fund (which may include, where applicable, compulsory redemption by the Company) will","page_number":3,"box":{"x":86,"y":162,"width":826,"height":10}},{"id":"165a5f1c-cb7b-4b05-8e23-516ca4bdc5af","block_type":"box","text":"be taxed at the time of such sale, redemption or disposal as income and not as a capital gain. These provisions do not apply","page_number":3,"box":{"x":86,"y":174,"width":827,"height":10}},{"id":"d73adac5-2842-4d97-a0c6-9d03d6957d1a","block_type":"box","text":"if the C","page_number":3,"box":{"x":86,"y":186,"width":46,"height":8}},{"id":"adda2980-304c-407a-b448-f475e5399c25","block_type":"box","text":"ompany (generally or in respect of the relevant Classes) successfully applies for reporting fund status and retains such","page_number":3,"box":{"x":133,"y":186,"width":780,"height":11}},{"id":"3f6baf63-7cd3-4b07-8b7b-ca05aa6a5bbf","block_type":"box","text":"status throughout the period during which the Shares are held.","page_number":3,"box":{"x":86,"y":199,"width":416,"height":10}},{"id":"5a376914-c213-4e7f-890b-47cdf412fd04","block_type":"box","text":"In order for a Class to qualify as a reporting fund, the Company must apply to HM Revenue & Customs for entry of the","page_number":3,"box":{"x":87,"y":223,"width":826,"height":10}},{"id":"9dd5e42a-fdcf-4473-94f8-9d76eec1c8ad","block_type":"box","text":"relevant Classes into the regime. For each accounting period, it must then report to investors 100 per cent. of the net","page_number":3,"box":{"x":86,"y":235,"width":827,"height":11}},{"id":"5d81afa3-b6e4-466e-944f-3706bdbba273","block_type":"box","text":"income attributable","page_number":3,"box":{"x":86,"y":248,"width":129,"height":8}},{"id":"f1874a2c-1bed-47c6-8eca-1693ab3e8a53","block_type":"box","text":"to the relevant Classes, as computed in its accounts, that report being made within six months of the","page_number":3,"box":{"x":221,"y":248,"width":692,"height":10}},{"id":"90af84ad-32d3-4eac-85ed-2ad28404ee81","block_type":"box","text":"end of the relevant accounting period. U.K. resident individual investors will be taxable on such reported income, whether","page_number":3,"box":{"x":86,"y":260,"width":827,"height":10}},{"id":"ba13445f-768b-4ae4-ab3f-9d739a6259e8","block_type":"box","text":"or not the income is actually","page_number":3,"box":{"x":86,"y":273,"width":196,"height":10}},{"id":"e5addf94-a338-4fd0-a11c-0956f748ef36","block_type":"box","text":"distributed. Income for these purposes is computed by reference to income for accounting","page_number":3,"box":{"x":288,"y":272,"width":624,"height":11}},{"id":"2e47f2e9-ad75-441d-b841-23dbe3bd3b52","block_type":"box","text":"purposes as adjusted for capital and other items. In particular, Shareholders should note that any profit derived from tradin","page_number":3,"box":{"x":86,"y":285,"width":817,"height":10}},{"id":"d4c56b9b-5a21-4722-9214-724a84dd619e","block_type":"box","text":"g","page_number":3,"box":{"x":906,"y":287,"width":7,"height":8}},{"id":"aa0976fe-71d3-41f8-9a9f-36a4599d478d","block_type":"box","text":"activities will be regarded as reportabl","page_number":3,"box":{"x":86,"y":297,"width":257,"height":10}},{"id":"d8102341-134e-49ba-becc-f4b17695b973","block_type":"box","text":"e income. If the Company’s activities prove to be trading in whole or part the annual","page_number":3,"box":{"x":345,"y":297,"width":567,"height":10}},{"id":"f9c21198-82e9-4802-9030-9c99dd447453","block_type":"box","text":"reportable income of Shareholders and their corresponding tax liability is likely to be significantly greater than would","page_number":3,"box":{"x":86,"y":309,"width":826,"height":10}},{"id":"1cad2e5c-9b35-4615-81a2-4125ca9f7b76","block_type":"box","text":"otherwise be the case.","page_number":3,"box":{"x":86,"y":322,"width":153,"height":8}},{"id":"4d62275f-7321-4c66-adc2-bc50d0d023c7","block_type":"box","text":"Provided a Class is approved as a reporting fund and retains such status, gains realised on the disposal of Shares in such","page_number":3,"box":{"x":87,"y":346,"width":825,"height":10}},{"id":"7661901d-a08d-4fd1-acb8-fe04711d6e00","block_type":"box","text":"Class by U.K. taxpayers will be subject to taxation as capital and not as income unless the investor is a dealer in securitie","page_number":3,"box":{"x":86,"y":359,"width":815,"height":10}},{"id":"e730803d-9da7-430f-b04f-3acdf93b91d8","block_type":"box","text":"s.","page_number":3,"box":{"x":903,"y":361,"width":10,"height":6}},{"id":"cbea7d5d-1387-49bb-ac23-cf4c09abcb93","block_type":"box","text":"Any s","page_number":3,"box":{"x":85,"y":371,"width":39,"height":10}},{"id":"71fecfe7-39aa-4e5b-98d2-aa792bda9e05","block_type":"box","text":"uch gains may accordingly be reduced by any general or specific U.K. exemption available to a Shareholder and","page_number":3,"box":{"x":126,"y":371,"width":786,"height":10}},{"id":"78b03d34-2b21-4bc9-af40-315ce00c57e6","block_type":"box","text":"may result in certain investors incurring a proportionately lower U.K. taxation charge.","page_number":3,"box":{"x":86,"y":383,"width":577,"height":10}},{"id":"38c8b13d-12af-4cb6-9c02-6038ef7f60f5","block_type":"box","text":"The Directors currently intend that the Company will seek “reporting fund” status for all Classes although they reserve the","page_number":3,"box":{"x":86,"y":408,"width":826,"height":10}},{"id":"22e9f159-f7f7-4f24-9409-637803bfc251","block_type":"box","text":"right not do so. Where approval of a Class as a reporting fund is sought it cannot be guaranteed that this will be obtained","page_number":3,"box":{"x":86,"y":420,"width":826,"height":10}},{"id":"e6302931-cd51-4299-a074-8c1124af148f","block_type":"box","text":"and main","page_number":3,"box":{"x":86,"y":432,"width":62,"height":8}},{"id":"c0e4fa63-4403-4f07-9875-bdf8884cc95d","block_type":"box","text":"tained.","page_number":3,"box":{"x":149,"y":432,"width":45,"height":8}},{"id":"00364417-dfaf-4f27-911c-63e40014311e","block_type":"box","text":"The distribution policies applicable to Shares of any Class or Fund are specified in the Relevant Supplement. Shareholders","page_number":3,"box":{"x":86,"y":457,"width":827,"height":10}},{"id":"d8f78be8-f78d-4366-bb6b-21dedab0195b","block_type":"box","text":"should note that it is not intended to declare dividends in respect of any accumulating Shares and that it is in the discreti","page_number":3,"box":{"x":86,"y":469,"width":809,"height":10}},{"id":"b8c4f4fa-34b0-4cc3-8680-f3430169026f","block_type":"box","text":"on","page_number":3,"box":{"x":897,"y":471,"width":16,"height":6}},{"id":"ebeee191-415f-45ab-98bf-45b6d44547ca","block_type":"box","text":"of th","page_number":3,"box":{"x":86,"y":481,"width":29,"height":8}},{"id":"cedd06f1-b3b4-4b73-9174-3afa7212d6f9","block_type":"box","text":"e Directors whether or not to pay dividends in respect of the distributing Shares. To the extent that dividends are not","page_number":3,"box":{"x":116,"y":481,"width":797,"height":11}},{"id":"197ba252-da4f-4c55-88c2-c07a18e31c60","block_type":"box","text":"paid in respect of a Class with reporting fund status, reportable income under the reporting fund rules will be attributed","page_number":3,"box":{"x":86,"y":494,"width":826,"height":10}},{"id":"087bd61e-b68b-4fbd-b2a9-47fe5f80546c","block_type":"box","text":"only to those","page_number":3,"box":{"x":86,"y":506,"width":89,"height":10}},{"id":"9d853c30-847b-4625-844f-6a7eb594c4ac","block_type":"box","text":"Shareholders who remain as Shareholders at the end of the relevant accounting period. This means that","page_number":3,"box":{"x":182,"y":506,"width":731,"height":10}},{"id":"0a132acf-2d3b-46b3-b35e-a5da1d1d0437","block_type":"box","text":"Shareholders could receive a greater or lesser share of dividend income than anticipated in certain circumstances such","page_number":3,"box":{"x":86,"y":518,"width":826,"height":10}},{"id":"d3f154d7-ed4d-467d-b238-07d2b3e9ed9c","block_type":"box","text":"as when, respectively, Class size","page_number":3,"box":{"x":86,"y":531,"width":222,"height":10}},{"id":"f5293356-b759-4465-84be-2ffaeb97bd08","block_type":"box","text":"is shrinking or expanding. Under regulations which took effect on 27 May 2011 a reporting","page_number":3,"box":{"x":313,"y":531,"width":600,"height":10}},{"id":"f2cdc545-fd02-411e-a8a0-31db7b102e8a","block_type":"box","text":"fund may (but is not required to) elect to operate income equalisation or to make income adjustments, which could minimise","page_number":3,"box":{"x":86,"y":543,"width":827,"height":10}},{"id":"8c917428-eaea-4b10-bec5-aa751b656fe8","block_type":"box","text":"this effect. The Directors reserve the righ","page_number":3,"box":{"x":86,"y":555,"width":275,"height":10}},{"id":"663ac3cc-7e72-4f4e-b240-89c1ccd5628e","block_type":"box","text":"t to operate income equalisation or to make income adjustments in respect of any","page_number":3,"box":{"x":363,"y":555,"width":550,"height":10}},{"id":"f2874004-7315-4207-b1a5-1be8cab0dab9","block_type":"box","text":"Class. Chapter 6 of Part 3 of the Offshore Funds (Tax) Regulations 2009 (“the Regulations”) provides that specified","page_number":3,"box":{"x":86,"y":567,"width":826,"height":11}},{"id":"082744e5-6d08-4ffa-b6fe-679466ccb842","block_type":"box","text":"transactions carried out by a UCITS fund, such as the Compa","page_number":3,"box":{"x":86,"y":580,"width":425,"height":10}},{"id":"af302ea2-1591-4937-9eb3-211f68b3a7f6","block_type":"box","text":"ny, will not generally be treated as trading transactions for","page_number":3,"box":{"x":513,"y":580,"width":401,"height":10}},{"id":"6c8b6908-fd78-4947-b463-3db0305818c4","block_type":"box","text":"the purposes of calculating the reportable income of reporting funds that meet a genuine diversity of ownership condition.","page_number":3,"box":{"x":86,"y":592,"width":826,"height":10}},{"id":"1e77a3d5-90ed-43f0-890e-5ab4ab33223e","block_type":"box","text":"The Directors intend to elect for reporting fund status for all Classes","page_number":3,"box":{"x":86,"y":604,"width":467,"height":11}},{"id":"477da467-2c63-458e-9f49-462b01c9dec3","block_type":"box","text":". The Directors confirm that all Classes are primarily","page_number":3,"box":{"x":556,"y":604,"width":358,"height":11}},{"id":"f2e94655-0fc7-460e-bbd5-dbedd04f87a9","block_type":"box","text":"intended for and marketed to all investors. For the purposes of the Regulations, the Directors undertake that all Classes","page_number":3,"box":{"x":86,"y":617,"width":826,"height":10}},{"id":"67dcb5c8-cc22-49d1-8e4b-c17e91b96e34","block_type":"box","text":"in the Company will be widely available and will be marketed and made available","page_number":3,"box":{"x":86,"y":629,"width":552,"height":10}},{"id":"bb36001d-cc3a-42d5-a731-2c345a24f685","block_type":"box","text":"sufficiently widely to reach the intended","page_number":3,"box":{"x":644,"y":629,"width":269,"height":10}},{"id":"4b0b5ab2-b917-4a5f-ad79-b6994af253f6","block_type":"box","text":"category of investors and in a manner","page_number":3,"box":{"x":86,"y":641,"width":258,"height":10}},{"id":"559078fa-5aef-495d-b7e0-b885515b9778","block_type":"box","text":"appropriate to attract those kinds of investors.","page_number":3,"box":{"x":349,"y":641,"width":305,"height":10}},{"id":"a24f4248-3ff3-491b-bcc0-06c3e4480a9d","block_type":"box","text":"Chapter 3 of Part 6 of the Corporation Tax Act 2009 (“CTA 2009”) provides that, if at any time in an accounting period a","page_number":3,"box":{"x":86,"y":666,"width":827,"height":10}},{"id":"023e497a-2af2-4d4f-809d-3a0a595442d9","block_type":"box","text":"corporate investor within the charge to U.K. corporation tax holds an interest in an offshore fund and there is a time in tha","page_number":3,"box":{"x":86,"y":678,"width":822,"height":10}},{"id":"b0678731-63b8-4a75-9f84-82e7c21c041b","block_type":"box","text":"t","page_number":3,"box":{"x":910,"y":679,"width":4,"height":7}},{"id":"a4c78872-f5c1-4652-97ee-2ec19ef21b6b","block_type":"box","text":"period w","page_number":3,"box":{"x":86,"y":691,"width":58,"height":10}},{"id":"fc672a54-a53a-4d11-a27d-3c7e8e25cf6f","block_type":"box","text":"hen that fund fails to satisfy the “non","page_number":3,"box":{"x":145,"y":690,"width":249,"height":11}},{"id":"8e0f41f3-a01c-4592-95f5-65ae68ca7c8b","block_type":"box","text":"-","page_number":3,"box":{"x":396,"y":695,"width":4,"height":1}},{"id":"23492449-bef7-49f3-ab5d-72e4a71f8c76","block_type":"box","text":"qualifying investment test”, the interest held by such corporate investor will","page_number":3,"box":{"x":401,"y":690,"width":511,"height":11}},{"id":"b2031cee-2cf0-43c6-b21a-63859c7950e4","block_type":"box","text":"be treated for the accounting period as if it were rights under a creditor relationship for the purposes of the rules relatin","page_number":3,"box":{"x":86,"y":703,"width":817,"height":10}},{"id":"1a67b600-0028-46da-acf4-c34714ad04ca","block_type":"box","text":"g","page_number":3,"box":{"x":906,"y":705,"width":7,"height":8}},{"id":"864aa423-4733-4a8a-aa47-454acdcafc63","block_type":"box","text":"to the tax","page_number":3,"box":{"x":86,"y":715,"width":64,"height":8}},{"id":"991fe2a1-449f-4c94-9793-721329a64fc8","block_type":"box","text":"ation of most corporate debt contained in CTA 2009 (the “Corporate Debt Regime”). Acquisitions of Shares will","page_number":3,"box":{"x":150,"y":715,"width":762,"height":10}},{"id":"ab80233d-0498-447a-85e3-73e55fcc7484","block_type":"box","text":"(as explained above) constitute interests in an offshore fund and, based on the current investment policies of the Funds,","page_number":3,"box":{"x":86,"y":727,"width":826,"height":10}},{"id":"c976d7af-69ec-4750-b1f3-f085e7088191","block_type":"box","text":"it may be that some Fund","page_number":3,"box":{"x":86,"y":740,"width":168,"height":10}},{"id":"4ef99eba-94b7-4508-a526-33dc0e2918a8","block_type":"box","text":"s will not meet the “non","page_number":3,"box":{"x":256,"y":739,"width":153,"height":9}},{"id":"51497aa6-42a4-40e9-b622-18ca5714feb5","block_type":"box","text":"-","page_number":3,"box":{"x":410,"y":744,"width":4,"height":1}},{"id":"0e41ffe3-8f1a-4661-b04f-7c8423172ece","block_type":"box","text":"qualifying investment test”. In circumstances where the test is not satisfied","page_number":3,"box":{"x":416,"y":739,"width":496,"height":11}},{"id":"e753375b-b91f-4ef7-9b00-a8cca9187af1","block_type":"box","text":"(for example where the relevant sub","page_number":3,"box":{"x":86,"y":752,"width":245,"height":10}},{"id":"09844c5e-ff96-4fe5-8344-e7c0af35131d","block_type":"box","text":"-","page_number":3,"box":{"x":333,"y":756,"width":4,"height":1}},{"id":"075a60c8-f56b-494f-865c-fa38adc39a9f","block_type":"box","text":"fund or class invests in debt instruments, securities, cash or open","page_number":3,"box":{"x":338,"y":752,"width":447,"height":10}},{"id":"eb61a950-4eb4-4fbd-975d-ef93bbb3ffa9","block_type":"box","text":"-","page_number":3,"box":{"x":787,"y":756,"width":4,"height":1}},{"id":"3ad1c7ce-efca-4f88-9538-8c85213decb1","block_type":"box","text":"ended companies","page_number":3,"box":{"x":792,"y":752,"width":121,"height":10}},{"id":"a578f5c5-3a3a-4ec4-aeed-2ab4e27e755d","block_type":"box","text":"that themselves do not satisfy th","page_number":3,"box":{"x":86,"y":764,"width":219,"height":10}},{"id":"0b6773a8-8925-40bf-97c4-0397a3081423","block_type":"box","text":"e \"non","page_number":3,"box":{"x":307,"y":764,"width":42,"height":8}},{"id":"c9c25563-79fb-4f03-81df-eb9b8e7b0a30","block_type":"box","text":"-","page_number":3,"box":{"x":351,"y":769,"width":4,"height":1}},{"id":"ab7612da-bf2a-4435-a9b9-35a8344d483f","block_type":"box","text":"qualifying investments test\" and the market value of such investments exceeds 60","page_number":3,"box":{"x":356,"y":764,"width":557,"height":10}},{"id":"0c91f07a-7e34-49d2-aa18-ec60f06643c5","block_type":"box","text":"per cent. of the market value of all its investments) shares will be treated for corporation tax purposes as within the","page_number":3,"box":{"x":86,"y":777,"width":827,"height":10}},{"id":"fd4855ad-718d-4874-98a5-2ae051ec975f","block_type":"box","text":"Corporate Debt Regime. As a consequence, where t","page_number":3,"box":{"x":86,"y":789,"width":352,"height":10}},{"id":"3a07ff11-8914-407b-8c9f-0de3ac2e7746","block_type":"box","text":"he test is not met all returns on the shares in respect of each corporate","page_number":3,"box":{"x":440,"y":789,"width":473,"height":10}},{"id":"f332de01-0658-42fd-87c8-9e7a55a02852","block_type":"box","text":"investor’s accounting period during which the test is not met (including gains, profits and deficits and exchange gains and","page_number":3,"box":{"x":86,"y":801,"width":826,"height":10}},{"id":"772ed2bb-bb46-4ac5-ae30-58016a4d5053","block_type":"box","text":"losses) will be taxed or relieved as an income receipt or","page_number":3,"box":{"x":86,"y":813,"width":374,"height":11}},{"id":"64fef949-b480-4e7f-b4e3-cc3fe549963f","block_type":"box","text":"expense on a fair value accounting basis. Accordingly, a corporate","page_number":3,"box":{"x":464,"y":813,"width":449,"height":11}},{"id":"65222562-cbd1-4421-aab1-b5ad3c2ecd03","block_type":"box","text":"investor in the Company may, depending on its own circumstances, incur a charge to corporation tax on an unrealised","page_number":3,"box":{"x":86,"y":826,"width":826,"height":10}},{"id":"0dfc95e0-0f64-4790-bebb-25811e247861","block_type":"box","text":"increase in the value of its holding of Shares (and, likewise, obtain rel","page_number":3,"box":{"x":86,"y":838,"width":466,"height":10}},{"id":"00cb0f25-030f-44ff-beb4-3cd9878a62f4","block_type":"box","text":"ief against corporation tax for an unrealised reduction","page_number":3,"box":{"x":554,"y":838,"width":359,"height":10}},{"id":"a684aedb-b628-4bfa-954f-ee536a9810ad","block_type":"box","text":"in the value of its holding of Shares). The effect of the provisions relating to holdings in controlled foreign companies","page_number":3,"box":{"x":86,"y":850,"width":826,"height":10}},{"id":"2603ab0a-a994-4f01-81ef-c76e5893368e","block_type":"box","text":"(outlined below) would then be substantially mitigated.","page_number":3,"box":{"x":86,"y":863,"width":369,"height":10}},{"id":"7cd1e155-c8e4-4e49-b799-0f397c81f5de","block_type":"box","text":"Due to the intended reporting fund status of all Classes, it is not anticipated","page_number":4,"box":{"x":87,"y":76,"width":507,"height":10}},{"id":"7d3ffab9-ea68-4ea3-bc90-dac85746f631","block_type":"box","text":"that individuals","page_number":4,"box":{"x":600,"y":76,"width":100,"height":8}},{"id":"dfac8766-ca3b-4684-9561-366c1a677fbb","block_type":"box","text":"resident in the United Kingdom","page_number":4,"box":{"x":705,"y":76,"width":208,"height":10}},{"id":"eb2c55b9-3b50-48ad-b1fa-87f6e070b701","block_type":"box","text":"will be affected by the provisions of","page_number":4,"box":{"x":85,"y":88,"width":246,"height":10}},{"id":"a9a202d2-0f8c-4e9a-a7d3-41cef7a1a6d2","block_type":"box","text":"Chapter 2 of Part 13","page_number":4,"box":{"x":337,"y":88,"width":141,"height":10}},{"id":"fcdfb06a-13e3-4fb2-83d6-a8402e2ca287","block_type":"box","text":"of the Income Tax Act 2007 which might otherwise render such","page_number":4,"box":{"x":484,"y":88,"width":429,"height":10}},{"id":"c3da5fcf-4e3c-428a-ae82-59b92e3198c5","block_type":"box","text":"persons liable to taxation in respect of undistributed income and profits of the Company. More specifically, this legislation","page_number":4,"box":{"x":86,"y":100,"width":802,"height":10}},{"id":"8a3c0803-8b51-4a65-a0b1-56f73a43deb1","block_type":"box","text":"will","page_number":4,"box":{"x":894,"y":100,"width":19,"height":8}},{"id":"720e8fe3-7749-455d-b9e7-a67efbad05ea","block_type":"box","text":"not apply if such individuals can satisfy HM Revenue & Customs","page_number":4,"box":{"x":86,"y":113,"width":429,"height":10}},{"id":"e571ee98-b765-4dd6-b4e2-240273bf4f8d","block_type":"box","text":"that either:","page_number":4,"box":{"x":521,"y":113,"width":69,"height":8}},{"id":"636d3c80-197d-4b27-a58e-57f5f8eb7e72","block_type":"box","text":"i.","page_number":4,"box":{"x":138,"y":138,"width":7,"height":9}},{"id":"b229651e-2506-4f0f-9650-7f87e36a0e9c","block_type":"box","text":"it would not be reasonable to draw the conclusion from all the circumstances of the case, that the purpose of","page_number":4,"box":{"x":147,"y":139,"width":766,"height":10}},{"id":"b15fa8a5-494c-45cf-bb4e-257ad72f5c05","block_type":"box","text":"avoiding liability to taxation was the purpose, or one of the purposes, for which the relevant transactions or any","page_number":4,"box":{"x":146,"y":152,"width":767,"height":10}},{"id":"32e3c4e2-3927-474d-a7aa-b9ce6f695c74","block_type":"box","text":"of them were effected; or","page_number":4,"box":{"x":146,"y":164,"width":171,"height":9}},{"id":"24fdd940-bfdf-4d38-a9dd-cd95cc3939d6","block_type":"box","text":"ii.","page_number":4,"box":{"x":135,"y":177,"width":10,"height":10}},{"id":"7520e5f9-8e10-440a-a74c-d500928f67d4","block_type":"box","text":"all the relevant transactions are genuine commercial transactions and it would not be reasonable to draw the","page_number":4,"box":{"x":146,"y":179,"width":767,"height":10}},{"id":"8b9ded0a-52ef-4980-af5b-f0b80636f656","block_type":"box","text":"conclusion, from all the circumstances of the case, that any one or more of the transactions was more than","page_number":4,"box":{"x":147,"y":191,"width":765,"height":10}},{"id":"04f9fda7-9190-4f1d-9e77-3c954451c514","block_type":"box","text":"incidentally designed for the purpose of","page_number":4,"box":{"x":147,"y":203,"width":268,"height":10}},{"id":"2af8cd91-304b-4c21-8c3c-693e1d5b1f82","block_type":"box","text":"avoiding liability to taxation.","page_number":4,"box":{"x":420,"y":203,"width":188,"height":10}},{"id":"98b1afef-69e5-4ae9-805b-abed88ff5a65","block_type":"box","text":"Corporate Shareholders resident in the UK should note the provisions of Part 9A of the Taxation (International and Other","page_number":4,"box":{"x":86,"y":240,"width":828,"height":10}},{"id":"5ac7ac2e-4031-4c5f-8627-55fbb82d09b3","block_type":"box","text":"Provisions) Act 2010, which may have the effect in certain circumstances of subjecting a company resident in the UK to UK","page_number":4,"box":{"x":87,"y":252,"width":827,"height":10}},{"id":"b760df19-5e9e-43b8-b771-f912a1f8225f","block_type":"box","text":"corporation t","page_number":4,"box":{"x":86,"y":265,"width":84,"height":10}},{"id":"d8f67b39-733c-4bc0-92da-76546b781350","block_type":"box","text":"ax on the profits of a company resident outside the UK. A charge to tax cannot however arise unless the non","page_number":4,"box":{"x":171,"y":265,"width":736,"height":10}},{"id":"b792b3bf-3712-4bb9-bc86-2ebc91a92973","block_type":"box","text":"resident company is under the control of persons resident in the UK and, on apportionment of the non","page_number":4,"box":{"x":86,"y":277,"width":673,"height":10}},{"id":"13d0cfe2-d3e0-4e2d-b0af-eefd56df6de8","block_type":"box","text":"-","page_number":4,"box":{"x":761,"y":281,"width":4,"height":1}},{"id":"98211fe4-8e44-4efc-8f77-a3ba2b639da8","block_type":"box","text":"resident’s “chargeable","page_number":4,"box":{"x":767,"y":277,"width":146,"height":10}},{"id":"8485c609-f8a4-43ec-b2d5-f18732edcc3b","block_type":"box","text":"profits” more than 25% w","page_number":4,"box":{"x":86,"y":289,"width":169,"height":10}},{"id":"b628c835-1054-4327-8e21-b9085d852957","block_type":"box","text":"ould be attributed to the UK resident and persons associated or connected with them is resident in","page_number":4,"box":{"x":255,"y":289,"width":658,"height":10}},{"id":"232374a6-706f-494e-a99a-35f10d8ab2d8","block_type":"box","text":"a low tax jurisdiction. The legislation is not directed towards the taxation of chargeable gains. The effect of these provisi","page_number":4,"box":{"x":86,"y":302,"width":803,"height":10}},{"id":"8f2f0f79-106d-4734-8ca3-7129fc63b797","block_type":"box","text":"ons","page_number":4,"box":{"x":891,"y":304,"width":23,"height":6}},{"id":"9e59b8a7-361f-49d5-a878-bb6bc78babc7","block_type":"box","text":"would be to render such comp","page_number":4,"box":{"x":85,"y":314,"width":201,"height":10}},{"id":"3500f7f9-0492-4e92-b32c-975767a0e1f5","block_type":"box","text":"anies liable to UK corporation tax in respect of the undistributed income of the non","page_number":4,"box":{"x":287,"y":314,"width":543,"height":10}},{"id":"fd4e508f-6cd8-4a75-bf71-6a048446c3f0","block_type":"box","text":"-","page_number":4,"box":{"x":831,"y":318,"width":4,"height":1}},{"id":"84ec2dc6-6cdc-487e-98de-8d20ad82d79d","block_type":"box","text":"UK resident","page_number":4,"box":{"x":837,"y":314,"width":77,"height":8}},{"id":"1892ae30-7b11-4159-b7c8-77312ccadc94","block_type":"box","text":"company in respect of their share of the profits of the Company unless the conditions for one of the available exemptions is","page_number":4,"box":{"x":86,"y":326,"width":827,"height":10}},{"id":"fa87b2e3-33d7-46df-9ec2-31e7ba380b8f","block_type":"box","text":"met. For accounting periods of a S","page_number":4,"box":{"x":86,"y":338,"width":239,"height":10}},{"id":"0c236b7b-7c2b-4282-ae19-1788e85186af","block_type":"box","text":"hareholder beginning on or after 1 January 2013, these provisions will not apply if the","page_number":4,"box":{"x":326,"y":338,"width":587,"height":10}},{"id":"68d05d59-d63c-45d5-af25-4c44ffb6ba77","block_type":"box","text":"Shareholder reasonably believes that it does not hold a 25% interest in the Company","page_number":4,"box":{"x":86,"y":351,"width":586,"height":10}},{"id":"f3db490b-9e9f-4ec6-8bc9-616f841e3216","block_type":"box","text":"throughout the relevant accounting","page_number":4,"box":{"x":677,"y":351,"width":236,"height":10}},{"id":"5acdfd56-0809-49dd-9d0a-f66d76c3c377","block_type":"box","text":"period.","page_number":4,"box":{"x":86,"y":363,"width":45,"height":10}},{"id":"b160c5ea-2d7d-4e68-bd52-b0040481ffcd","block_type":"box","text":"The attention of persons resident","page_number":4,"box":{"x":86,"y":389,"width":218,"height":10}},{"id":"65ad2404-c070-438e-82a7-319e2fce815a","block_type":"box","text":"in the U.K. for taxation purposes is drawn to the provisions of","page_number":4,"box":{"x":308,"y":389,"width":399,"height":10}},{"id":"119a0ea0-bf61-458d-a4fd-931a87d4969a","block_type":"box","text":"section","page_number":4,"box":{"x":710,"y":389,"width":47,"height":8}},{"id":"ad0474ad-a302-4d04-8c14-ea82191b9f15","block_type":"box","text":"3","page_number":4,"box":{"x":762,"y":389,"width":7,"height":8}},{"id":"63478cb9-9d51-4d9c-9105-2753acfa4f22","block_type":"box","text":".","page_number":4,"box":{"x":775,"y":395,"width":1,"height":1}},{"id":"5fa08def-204e-4af1-a0ea-5d9536d1a5fb","block_type":"box","text":"","page_number":4,"box":{"x":781,"y":388,"width":17,"height":8}},{"id":"72ae42c8-4d30-4b71-a4f0-0e43cff21c72","block_type":"box","text":"Section","page_number":4,"box":{"x":798,"y":389,"width":49,"height":8}},{"id":"1c3fb334-d878-4163-a462-4d2f24c4f524","block_type":"box","text":"3","page_number":4,"box":{"x":856,"y":389,"width":7,"height":8}},{"id":"ba688b90-2a7a-4f41-a17b-927310c85383","block_type":"box","text":"applies","page_number":4,"box":{"x":867,"y":389,"width":47,"height":10}},{"id":"6d4537f2-b03a-4903-a4e0-863760c8fc32","block_type":"box","text":"to a “participator” for U.K. taxation purposes (which term includes a shareholder) if at any time when a gain accrues to the","page_number":4,"box":{"x":86,"y":401,"width":827,"height":10}},{"id":"aae762d2-d274-44a2-85bc-fb582a44e021","block_type":"box","text":"Company which constitutes a chargeable gain for those purposes, at the same time, the Company is itself controlled by a","page_number":4,"box":{"x":86,"y":413,"width":827,"height":10}},{"id":"8881264c-879f-434c-b125-1955b7b8cd80","block_type":"box","text":"suff","page_number":4,"box":{"x":86,"y":426,"width":20,"height":8}},{"id":"300df407-2aaa-40c9-a83d-2691b4020ea9","block_type":"box","text":"fficiently small number of persons so as to render the Company a body corporate that would, were it to have been resident","page_number":4,"box":{"x":106,"y":426,"width":808,"height":10}},{"id":"1e3da392-9220-42f1-908c-e0215f0909ad","block_type":"box","text":"in the U.K. for taxation purposes, be a “close”","page_number":4,"box":{"x":86,"y":438,"width":311,"height":10}},{"id":"dec5be0e-20b2-4515-bf14-10f501eb0fbd","block_type":"box","text":"company for thos","page_number":4,"box":{"x":404,"y":438,"width":117,"height":10}},{"id":"1f62381d-b557-4bb1-9e45-1a5d84352f39","block_type":"box","text":"e","page_number":4,"box":{"x":522,"y":440,"width":8,"height":6}},{"id":"924bd0aa-ea31-4176-a91d-bd64a9233252","block_type":"box","text":"purposes. The provisions of section","page_number":4,"box":{"x":537,"y":438,"width":240,"height":10}},{"id":"b68c34a9-d5e4-47da-8944-4949c7d798e5","block_type":"box","text":"3","page_number":4,"box":{"x":790,"y":438,"width":7,"height":8}},{"id":"a9c4c34f-b5bc-41ac-b7a5-21c066e494ce","block_type":"box","text":"could, if applied,","page_number":4,"box":{"x":803,"y":438,"width":110,"height":10}},{"id":"d48fab38-9329-482c-887f-8bc5e05b807c","block_type":"box","text":"result in any such person who is a “participator” in the Company being treated for the purposes of U.K. taxation of chargeabl","page_number":4,"box":{"x":86,"y":450,"width":818,"height":11}},{"id":"c6d0e8d3-8239-4e21-8956-25a2ae064477","block_type":"box","text":"e","page_number":4,"box":{"x":906,"y":453,"width":7,"height":5}},{"id":"933396d1-4080-4b4c-9195-1e2f574fcbbd","block_type":"box","text":"gains as if a part of any chargeable gain accruing to the Company had accrued to that person directly, that p","page_number":4,"box":{"x":86,"y":463,"width":727,"height":10}},{"id":"9463d295-ca5c-47b3-8c09-51b14ee19e82","block_type":"box","text":"art being equal","page_number":4,"box":{"x":815,"y":463,"width":98,"height":10}},{"id":"3ed467fb-315b-4a48-95e7-8f72526f12f8","block_type":"box","text":"to the proportion of the gain that corresponds on a just and reasonable basis to that person’s proportionate interest in the","page_number":4,"box":{"x":86,"y":475,"width":827,"height":10}},{"id":"f7b01e1e-0b2e-4c6a-8fc7-b758a17aa554","block_type":"box","text":"Company as a “participator”. No liability under","page_number":4,"box":{"x":86,"y":487,"width":306,"height":10}},{"id":"edcd1cf3-bb9a-4116-babe-dafc83852246","block_type":"box","text":"section","page_number":4,"box":{"x":397,"y":487,"width":46,"height":8}},{"id":"8bfe142e-4abc-4037-b0ed-8ff69da792ac","block_type":"box","text":"3","page_number":4,"box":{"x":449,"y":487,"width":7,"height":8}},{"id":"a0f3ed29-f0c2-49a1-9bb9-a5956a0fe7a3","block_type":"box","text":"could be incurred by such a person however, where such proportion","page_number":4,"box":{"x":461,"y":487,"width":452,"height":10}},{"id":"b0d45a7b-4ad8-4516-9b08-b9742613d8a0","block_type":"box","text":"does not exceed one","page_number":4,"box":{"x":86,"y":500,"width":143,"height":7}},{"id":"35b00a0d-36da-4e19-bc8c-6c5cc0a4eee6","block_type":"box","text":"quarter of","page_number":4,"box":{"x":236,"y":499,"width":66,"height":10}},{"id":"5ceec293-f264-49a9-b70e-e287dd20a389","block_type":"box","text":"the gain.","page_number":4,"box":{"x":307,"y":500,"width":57,"height":10}},{"id":"5681417b-0c8d-4ea7-a968-f5348ada14f7","block_type":"box","text":"Exemptions also apply where none of the acquisition, holding or disposal of the","page_number":4,"box":{"x":373,"y":499,"width":540,"height":11}},{"id":"fee6602e-e8ef-4ed7-b029-b27b92afc1e9","block_type":"box","text":"assets had a tax avoidance main purpose or where the relevant gains arise on the disposal of assets used only for the","page_number":4,"box":{"x":86,"y":512,"width":827,"height":10}},{"id":"bb1c36ba-0672-42b7-8573-15f6a5f43d42","block_type":"box","text":"purposes of genuine, economically significant business act","page_number":4,"box":{"x":86,"y":524,"width":392,"height":10}},{"id":"f2754dd1-0d86-4c4a-a31f-b423b17fad17","block_type":"box","text":"ivities carried on outside the UK.","page_number":4,"box":{"x":479,"y":524,"width":215,"height":8}}],"unit":"per_mille","page_width":595,"page_height":841,"attributes":{"chunk_type":"page_range","start_page":1,"end_page":4}},"source":{"type":"Model","id":"github:dorsalhub/pdf-extractor","version":"0.5.0","execution_id":"aaf28d8b-9986-4dc2-869b-441a6e9dc983"},"user_id":1000002,"date_created":"2026-10-05T20:56:26.873000Z","date_modified":"2026-10-05T20:56:26.873000Z","private":false}