Artikel 3

1. An undertaking established in Cyprus may hold stocks in the Netherlands. Such stocks may be held either:
a) directly by the undertaking established in Cyprus, or
b) by an undertaking established in the Netherlands, on behalf of the undertaking established in Cyprus.
2. An undertaking established in the Netherlands may hold stocks in Cyprus. Such stocks may be held either:
a) directly by the undertaking established in the Netherlands, or
b) by an undertaking established in Cyprus, on behalf of the undertaking established in the Netherlands.
3. For stocks to be eligible for acceptance under Article 2 of this Agreement, the undertaking seeking acceptance of those stocks under that Article must have agreed to hold them, either itself or through the other undertaking, from the first day of any calendar quarter for one or more full calendar quarters, after acceptance by the competent authorities.
4. If an undertaking holds stocks on behalf of another undertaking in accordance with paragraphs 1b) or 2b) of this Article, then those stocks shall not be taken into account by the undertaking first mentioned in its own stocking declarations.