INFORMATION MEMORANDUM DATED 9 JULY 2009 ...

Article IV. Summary of certification requirements
1. The information relative to the Beneficial Owners should be made available to the ICSDs by
their Customers/Participants in accordance with the abovementioned procedures,
communication channels and timetable, as completed/supplemented by the detailed
notifications sent by the ICSDs to their Customers/Participants from time to time.
2. The relevant Annexes I, II or III must be completed and signed by the Customer/Participant, its
legal representative or if appropriate by the ICSDs.
3. As per Article 44 of Royal Decree 1065/2007 of 27 July 2007, Annexes can be completed and
signed at the earliest on the close of business of the Business Day immediately before the
relevant Payment date ("Record Date") and not later than the Quick Refund deadline, and must
reflect the final Beneficial Owner's identity at close of business on Record Date (including the
address and tax identification number for Spanish tax residents) and tax residency, security
information, position and amount of income received.
4. The principle of "legal representative" is recognised by the Spanish tax authorities in this
context, meaning that, among others, financial intermediaries (e.g. the ICSDs) may, in the
appropriate circumstances, (i.e. where Customers/Participants are resident in an OECD country
or country with which Spain has entered into a convention for the avoidance of double
taxation) prepare and issue Annexes in the name and on behalf of their Customers/Participants
under a valid and duly executed power of attorney.
5. Where Customers/Participants are resident in an OECD country or country with which Spain
has entered into a convention for avoidance of double taxation, an ICSD may, where it obtains
the appropriate Beneficial Owner information from such Customers/Participants, issue in its
own name the necessary Annexes in accordance with the procedures laid down in article 44 of
Royal Decree 1065/2007 but have no obligation to do so.
6. Where Customers/Participants are not resident in an OECD country or in a country with which
Spain has entered into a convention for avoidance of double taxation, immediate/Quick Refund
is only available if the ICSDs obtain the appropriate Beneficial Owner information from such
Customers/Participants and issue in the name of the relevant ICSD the necessary Annex(es) in
accordance with the procedures laid down in article 44 of Royal Decree 1065/2007 but have no
obligation to do so.
7. Certificates of Residence must no longer be submitted for an immediate or quick refund.
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