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Moreover, securities of the iShares products domiciled in Ireland, Germany, Switzerland and Luxembourg might not, besides pursuant to an exemption from, or in a transaction not subject to the regulatory necessities of, the Investment Company Act of 1940 of the USA, as amended (the “1940 Act”), or the US Commodity Change Act, as amended (the “CEA”), because the case may be, be acquired by a person who’s deemed to be a US Particular person beneath the 1940 Act and regulations thereunder or an individual who is deemed to be a US Individual below the CEA and regulations thereunder.