TaxTMI 
TaxTMI 
Limitation of benefits
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....l), which is a resident of a Contracting State and which derives income from the other Contracting State shall be entitled to all the benefits of this Agreement otherwise accorded to 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. 3. A person of a c....
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.... more individuals residents of either of the Contracting States; or (c) A partnership or association of persons, at least 50% or more of whose beneficial interests is owned by one or more individuals residents of either of the Contracting 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....
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....ible property and payments in respect of financial obligations to a bank incurred in connection with a transaction entered into with the Permanent Establishment of the bank situated in either of the Contracting States). 4. The provisions of paragraphs 2 and 3 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 der....
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....s the obtaining of benefits under the Agreement. 6. For the purposes of this Article the term 'recognised stock exchange' means: (a) in India, any stock exchange which for the time being is recognized by the Central Government under section 4 of the Securities Contracts (Regulation) Act, 1956; and (b) in the Oriental Republic of Uruguay, the Bolsa de Valores de Montevi....