Exempt Persons

A. A Government Entity.(Article 5)

B. Government Controlled Entity.(Article 6)

C. Person engaged in an Extractive Business, meeting conditions of Article 7.

D. Person engaged in a Non-Extractive Natural Resource Business.(Article 8)

E. Qualifying Public Benefit Entity under Article 9.

F. Qualifying Investment Fund under Article 10.

G. Public pension/social security fund/private pension/social security fund (subject to regulatory oversight of the competent authority in the State)

H. A juridical person incorporated in the State that is wholly owned & controlled by an Exempt Person specified above in (a), (b), (f) ,(g) & conducts any of following:

Undertakes part or whole of the activity of the Exempt Person.
Is engaged exclusively in holding assets or investing funds for the benefit of the Exempt Person.
Only carries out activities that are ancillary to those carried out by the Exempt Person.
Any other Person as may be determined in a decision issued by the Cabinet at the suggestion of the Minister.

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