Acta Francisci Pp. 647

j) The term "Investment Entity" means any Entity that conducts as a business (or is managed by an entity that conducts as a business) one or more of the following activities or operations for or on behalf of a customer:

(1) trading in money market instruments (cheques, bills, certifi- cates of deposit, derivatives, etc.); foreign exchange; exchange, interest rate and index instruments; transferable securities; or commodity futures trading;

(2) individual and collective portfolio management; or

(3) otherwise investing, administering, or managing funds or mon- ey on behalf of other persons.

This subparagraph 1(j) shall be interpreted in a manner consist- ent with similar language set forth in the definition of "financial institution" in the Financial Action Task Force Recommendations.

k) The term "Specified Insurance Company" means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with re- spect to, a Cash Value Insurance Contract or an Annuity Contract.

l) The term "HS/VCS Financial Institution" means (i) any Finan- cial Institution organized under the laws of the Holy See or the Vatican City State, but excluding any branch of such Financial Institution that is located outside the Vatican City State, and (ii) any branch of a Financial Institution not organized under the laws of the Holy See or the Vatican City State, if such branch is located in the Vatican City State.

m) The term "Partner Jurisdiction Financial Institution" means (i) any Financial Institution established in a Partner Jurisdiction, but excluding any branch of such Financial Institution that is located outside the Partner Jurisdiction, and (ii) any branch of a Financial Institution not established in the Partner Jurisdiction, if such branch is located in the Partner Jurisdiction.

n) The term "Reporting HS/VCS Financial Institution" means any HS/VCS Financial Institution that is not a Non-Reporting HS/ VCS Financial Institution. The Institute for the Works of Religion (IOR) is a public law foundation under the laws of the Holy See and the Vatican City State and, for purposes of this Agreement, a Reporting HS/VCS Financial Institution.