Artikel 3

1. An entity established in New Zealand may hold stocks to which this Agreement applies on the territory of the Netherlands. Such stocks may be held either:
a) directly by the entity established in New Zealand; or
b) by an entity established in the Netherlands, on behalf of the entity established in New Zealand.
2. For stocks to be eligible for approval under Article 5 of this Agreement, the entity established in New Zealand must have agreed to hold them itself or through the other entity, from the first day of any calendar quarter for one or more full calendar quarters.
3. If an entity established in New Zealand holds stocks in accordance with paragraph 1 of this Article, then those stocks shall not be regarded as being part of the stock obligation of the Netherlands, but shall be regarded as being part of the stock obligation of New Zealand.