Unified for New Opportunities: Tax certification process

In relation to the Unified for New Opportunities market activations, Clearstream¹ informs clients that effective

immediately

the certification of Australian and Norwegian accounts can be started in advance of the activation in T2S.

Clients must ensure that the accounts are certified in due course for each migrated market. Please note that German stock exchange flows will be routed via the CEU account from the migration of the market. It is important to note that a high volume of certifications may significantly increase processing times. Clients must send certification requests well in advance in accordance with the published timelines.

Impact on clients

Certification of CBL accounts

If clients decide to transfer their holdings from their 6-series account to a CBL account, a new set of certification must be provided as described in the related CBL Market Taxation Guide. No duplication is allowed from 6-series account to CBL account.

Certification of CEU accounts

Unless specified otherwise in the tax announcements, the certification depends on the status of the 6-series account to be used. If not yet certified, new CEU tax forms must be submitted as specified in the dedicated announcement to certify the CEU account.

If the 6-series account is already certified, the existing certification can be duplicated to a CEU account by using the normal duplication process of sending an unsolicited instruction (Swift, Xact Web Portal, or Xact File Transfer). Please refer to the paragraph “Tax Documentation” in section 5.8 of the OneClearstream Client Handbook for full details.

Additionally, clients who want to duplicate a high number of certificates, can follow the dedicated process described below.

Dedicated duplication process

Valid tax certificates deposited on 6-series accounts can be transferred to CEU accounts by:

Sending a duly completed, password-protected Excel file via email to the dedicated address UNO-tax-certification@clearstream.com (this mailbox must only be used for the re-certification process and not for tax-related questions), and

Providing a corresponding unsolicited instruction (Swift MT599, Xact Web Portal, or Xact File Transfer) containing the password to access the Excel file sent by email.

Dedicated duplication templates

Swift MT599, Xact Web Portal or Xact File Transfer

Subject: UNO - Request for Duplication of Tax Certificates
ATTN: PTS Tax Services

For Market(s), Source Account(s), Destination Account(s), and CB references of impacted certificates, kindly refer to the password-protected Excel file sent to UNO-tax-certification@clearstream.com on [XX/XX/XXXX] at [XX:XX] (date and time).
Password: (password)

We hereby confirm that the above-mentioned original tax certificate(s) is/are still valid and should not be revoked.

We irrevocably authorise Clearstream to apply tax relief based on the information contained in the original tax certification duplicated for the destination account.

We hereby appoint Clearstream and Clearstream's depository for the securities as our attorneys-in-fact with authority to collect and forward the tax certification or a copy of the tax certification, any attachments, and any information relating to it to the tax authorities if these prove relevant to any administrative or legal proceedings or official inquiries undertaken or threatened.

We accept full responsibility and indemnify Clearstream in the case of any claims or additional taxes, interest thereon, or penalties levied by tax authorities in connection with any payments made in reliance upon this duplication of certification, including any additional information provided in connection to it.

We certify that the information contained in the tax certification is true, correct, and complete.

Clearstream refers collectively to Clearstream Banking S.A., registered office at 42, Avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Europe AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.

Excel File for duplication

The password-protected Excel file(s) must be sent to the UNO-tax-certification@clearstream.com email address.

Excel template

Subject of the email:
UNO // Request for Duplication of Tax Certificates // Client Name + Impacted Clearstream Account(s)

Further information

For further information, clients may contact the project via UNO@clearstream.com or their Relationship Officer.

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1. This Announcement is published by Clearstream Europe AG (CEU), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.