Company: TDBCP
Filing Date: 2025-02-26
Form Type: F-3/A
Source: 0001193125-25-035964
Chunk: 105

Company: TORONTO DOMINION BANK
Filing Date: 2025-02-26
Form: F-3/A
Chunk 105
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 prohibited transactions that may arise from the purchase or holding of a security. These exemptions include, without limitation:

| • |     | PTCE 84-14, an exemption for certain transactions determined or effected 
 by independent qualified professional asset managers;                    |

| • |     | PTCE 90-1, an exemption for certain transactions involving insurance 
 company pooled separate accounts;                                    |

| • |     | PTCE 91-38, an exemption for certain transactions involving bank 
 collective investment funds;                                     |

| • |     | PTCE 95-60, an exemption for transactions involving certain insurance 
 company general accounts; and                                         |

| • |     | PTCE 96-23, an exemption for plan asset transactions managed by in-house asset managers. |

In addition, Section 408(b)(17) of ERISA and Section 4975(d)(20) of the Code provide statutory exemptive relief for certain arm’s length transactions with a person that is a party in interest solely by reason of providing services to covered plans or being related to such a service provider. Under these provisions, the purchase and sale of a security should not constitute a prohibited transaction under Section 406 of ERISA or Section 4975 of the Code, provided that neither the issuer of the security nor any of its affiliates have or exercise any discretionary authority or control or render any investment advice with respect to the assets of any covered plan involved in the transaction, and provided further that the covered plan pays no more and receives no less than “adequate consideration” in connection with the transaction. 68

Each of the above-noted exemptions contains conditions and limitations on its application.
Fiduciaries of covered plans considering acquiring and/or holding a security in reliance on these or any other exemption should carefully review the exemption in consultation with counsel to assure it is applicable. There can be no assurance that
any such exemptions will be available, or that all of the conditions of any such exemptions will be satisfied, with respect to transactions involving any securities. Therefore, securities should not be purchased or held by any person investing
“plan assets” of any covered plan unless such purchase and holding will not constitute or result in a non-exempt prohibited transaction under ERISA and the Code.

In addition to the prohibited transaction considerations noted above, ERISA and the regulations promulgated thereunder by the U.S. Department
of Labor, as modified by Section 3(42) of ERISA (the “plan asset regulations”), provide that if a covered plan invest