Document:

Form of Particpant Agreement

 Exhibit 4.2 

CURRENCYSHARES® CHINESE RENMINBI TRUST 
 PARTICIPANT
AGREEMENT 
 This Participant Agreement (this “Agreement”), dated as of
            , 2011, is entered into by and between                      (with respect to
this Agreement, the “Authorized Participant”, and with respect to the Trust Agreement referred to below, an “Authorized Participant”), The Bank of New York Mellon, a New York banking corporation, not in its
individual capacity but solely as trustee (the “Trustee”) of the CurrencyShares® Chinese
Renminbi Trust (the “Trust”), and Rydex Specialized Products LLC, d/b/a Rydex Investments, as sponsor (the “Sponsor”) of the Trust. 
 SUMMARY 
 The Trustee serves as the trustee of the Trust pursuant to the
Depositary Trust Agreement dated as of [    ], 2011 among the Sponsor, the Trustee, the registered owners and beneficial owners from time to time of Chinese Renminbi Shares issued thereunder and all depositors (the “Trust
Agreement”). As provided in the Trust Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interests in and ownership of the Trust (the “Shares”) may be created or redeemed by
the Trustee for an Authorized Participant in aggregations of fifty thousand (50,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the registration statement of the Trust on Form S-1, as amended
(Registration No: 333-174640), as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended from time to time thereafter (collectively, the “Registration Statement”),
together with the prospectus of the Trust in the form first filed with the SEC pursuant to Rule 424 (the “Prospectus”) adopted under the Securities Act of 1933, as amended (the “1933 Act”). Under the Trust
Agreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized Participants under the Trust Agreement, only through the facilities of The Depository Trust Company (“DTC”) or a successor depository, and
only in exchange for an amount of Chinese Renminbi that is transferred between such Authorized Participant and the Trust. Under the Trust Agreement, the Trustee issues Baskets in exchange for Chinese Renminbi which are transferred by an Authorized
Participant to the London Branch of JPMorgan Chase Bank, N.A. (the “Depository”), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for Chinese Renminbi, the Chinese Renminbi held
in the Trust Account are transferred to the Authorized Participant by the Depository. The foregoing Chinese Renminbi transfers are also governed by the Deposit Account Agreement the Trust has entered into with the Depository (the “Deposit
Account Agreement”). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. 
 Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a “distribution,” as such term is used in the 1933 Act, may be occurring. The
Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner that would render it a statutory underwriter and subject it to the prospectus-delivery and liability
provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined
below). 
 Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust
Agreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust Agreement, the provisions of the Trust Agreement shall control. 

To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto
agree as follows: 
 Section 1. Order Placement. To place orders for the Trustee to create or redeem one or more
Baskets, Authorized Participants must follow the procedures for creation and redemption referred to in Section 3 of this Agreement and the procedures described in Attachment A hereto (the “Procedures”), as each may be amended,
modified or supplemented from time to time. 

 Section 2. Status, Representations and Warranties of the Parties. 

(a) The Authorized Participant represents and warrants and covenants the following on the date hereof and at each time of
purchase by the Authorized Participant of a Basket from the Trust (each such time, the “Time of Purchase”), that: 
 (i) The Authorized Participant is a participant of DTC (as such a participant, a “DTC Participant”). If the Authorized Participant ceases to be a DTC Participant, the Authorized
Participant shall give immediate notice to the Trustee of such event, and this Agreement shall terminate immediately as of the date the Authorized Participant ceased to be a DTC Participant. 

(ii) Unless Section 2(a)(iii) applies, the Authorized Participant either (A) is registered as a broker-dealer
under the Securities Exchange Act of 1934, as amended (“1934 Act”), and is a member in good standing of Financial Industry Regulatory Authority, Inc. (“FINRA”), or (B) is exempt from being, or otherwise is not
required to be, licensed as a broker-dealer or a member of FINRA, and in either case is qualified to act as a broker or dealer in the states or other jurisdictions where the nature of its business so requires. In connection with the purchase or
redemption of Baskets and any related offers or sales of Shares, the Authorized Participant will maintain any such registrations, qualifications and membership in good standing and in full force and effect throughout the term of this Agreement. The
Authorized Participant will comply with all applicable federal laws, the laws of the states or other jurisdictions concerned, and the rules and regulations promulgated thereunder, and with the Constitution, By-Laws and the NASD Conduct Rules (if it
is a FINRA member), and will not offer or sell Shares in any state or jurisdiction where they may not lawfully be offered and/or sold. 
 (iii) If the Authorized Participant is offering or selling Shares in jurisdictions outside the several states, territories and possessions of the United States and is not otherwise required to be
registered, qualified or a member of FINRA as set forth in Section 2(a)(ii) above, the Authorized Participant will, in connection with such offers and sales, (A) observe the applicable laws of the jurisdiction in which such offer and/or
sale is made, (B) comply with the prospectus delivery and other requirements of the 1933 Act, and the regulations promulgated thereunder, and (C) conduct its business in accordance with the NASD Conduct Rules. 

(iv) The Authorized Participant is in compliance with the money laundering and related provisions of the Uniting and
Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001, and the regulations promulgated thereunder (“USA PATRIOT Act”), if the Authorized Participant is subject to
the requirements of the USA PATRIOT Act. 
 (v) The Authorized Participant has the capability to send and receive
communications via authenticated telecommunication facility to and from the Trustee. The Authorized Participant shall confirm such capability to the satisfaction of the Trustee by the end of the Business Day before placing its first order with the
Trustee (whether such order is to create or to redeem Baskets). 

 (b) The Sponsor represents and warrants that: 

(i) on the effective date of the Registration Statement and at each Time of Purchase, the Trust’s Registration
Statement shall be effective and no stop order of the SEC with respect thereto shall have been issued and no proceedings for such purpose shall have been instituted or, to the Sponsor’s knowledge, will then be contemplated by the SEC; the
Registration Statement complies in all material respects with the requirements of the 1933 Act, and the Prospectus complied as of its date, and complies at the Time of Purchase, in all material respects with the requirements of the 1933 Act; and the
conditions to the use of Form S-1 have been satisfied; the Registration Statement does not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
misleading, the Prospectus will not, as of its date and at the Time of Purchase, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading and, as of 4:00 p.m. on the date of this Agreement (the “Time of Sale”), the documents comprising the Disclosure Package (as defined below) did not contain an
untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however,
that the Sponsor makes no warranty or representation with respect to any statement contained in the Registration Statement, the Prospectus or the Disclosure Package in reliance upon and in conformity with information concerning the Authorized
Participant and furnished in writing by or on behalf of the Authorized Participant to the Sponsor expressly for use therein. The “Disclosure Package” is the Prospectus and any amendments and supplements thereto at the Time of Sale
and any free writing prospectus as defined in Rule 405 of the 1933 Act (a “FWP”) prepared by, for or on behalf of the Sponsor before the Time of Sale and intended for general distribution; 

(ii) the Shares, when issued and delivered against payment of consideration therefor, as provided in this Agreement, will
be duly and validly authorized, issued, fully paid and non-assessable and free of statutory and contractual preemptive rights, rights of first refusal and similar rights; 

(iii) the Sponsor has been duly organized and, on the effective date of the Registration Statement and at each Time of
Purchase, will be validly existing as a limited liability company in good standing under the laws of the State of Delaware, with full power and authority to act as the sponsor of the Trust as described in the Registration Statement and the
Prospectus, and has all requisite power and authority to execute and deliver this Agreement; and 
 (iv) at the
time the Sponsor makes an offer of Shares following the filing of the Registration Statement, neither the Trust nor the Sponsor will be an “ineligible issuer” as defined in Rule 405 of the 1933 Act. 

 Section 3. Orders. 

(a) All orders to create or redeem Baskets shall be made in accordance with the terms of the Trust Agreement, the Deposit
Account Agreement, this Agreement and the Procedures. Each party will comply with such foregoing terms and procedures to the extent applicable to it. The Authorized Participant hereby consents to the use of recorded telephone lines whether or not
such use is reflected in the Procedures. The Trustee and Sponsor may issue additional or other procedures from time to time relating to the manner of creating or redeeming Baskets which are not related to the Procedures, and the Authorized
Participant will comply with such procedures of which it has received notice in accordance with Section 18(c). 
 (b) The Authorized Participant acknowledges and agrees that each order to create a Basket (a “Purchase Order”) and each order to redeem a Basket (a “Redemption Order”,
and each Purchase Order and Redemption Order, an “Order”) may not be revoked by the Authorized Participant upon its delivery to the Trustee. A form of Purchase Order is attached hereto as Exhibit B and a form of Redemption Order is
attached hereto as Exhibit C. 
 (c) The delivery of the Shares against deposits of Chinese Renminbi may be
suspended generally, or refused with respect to particular requested deliveries, during any period when the transfer books of the Trustee are closed or if any such action is deemed necessary or advisable by the Trustee or the Sponsor for any reason
at any time or from time to time. Except as otherwise provided in the Trust Agreement, the surrender of Shares for purposes of withdrawing Chinese Renminbi may not be suspended. 

Section 4. Chinese Renminbi Transfers. Any Chinese Renminbi to be transferred in connection with any Order shall be
transferred between the Authorized Participant’s account and the Trust’s deposit accounts established for such transfers pursuant to the Deposit Account Agreement (the “Deposit Accounts”) in accordance with the Procedures.
The Authorized Participant shall be responsible for all costs and expenses relating to or connected with any transfer of Chinese Renminbi between its account and the Deposit Accounts, including any late fees and other charges, if any, for which the
Trustee becomes responsible in the event that Chinese Renminbi are not transferred from the Authorized Participant's account in accordance with the Procedures. 
 Section 5. Fees. 
 (a) In connection with each Order
by an Authorized Participant to create or redeem one or more Baskets, the Trustee shall charge, and the Authorized Participant shall pay to the Trustee, the transaction fee prescribed in the Trust Agreement applicable to such creation or redemption.
The initial transaction fee shall be five hundred dollars ($500). The transaction fee may be waived or otherwise adjusted from time to time as set forth in the Prospectus. 

(b) In addition to the fee described in Section 5(a), in connection with each Order by an Authorized Participant to
create or redeem two or more Baskets, the Sponsor shall charge, and the Authorized Participant shall pay to the Sponsor, an additional transaction fee applicable to such creation or redemption. The additional transaction fee shall range from five
hundred dollars ($500) to two thousand dollars ($2,000), based on the number of Baskets created or redeemed per Order. The additional transaction fee may be waived or otherwise adjusted from time to time as set forth in the Prospectus or the
Procedures. 
 (c) Remittance of payment for the transaction fees set forth in Sections 5(a) and 5(b) shall be
made in accordance with the Procedures. 

 Section 6. Authorized Persons. Concurrently with the execution of this Agreement
and from time to time thereafter, the Authorized Participant shall deliver to the Trustee notarized and duly certified as appropriate by its secretary or other duly authorized official, a certificate in the form of Exhibit A setting forth the names
and signatures of all persons authorized to give instructions relating to activity contemplated hereby or by any other notice, request or instruction given on behalf of the Authorized Participant (each, an “Authorized Person”). The
Trustee may accept and rely upon such certificate as conclusive evidence of the facts set forth therein and shall consider such certificate to be in full force and effect until the Trustee receives a superseding certificate bearing a subsequent
date. Upon the termination or revocation of authority of any Authorized Person by the Authorized Participant, the Authorized Participant shall give immediate written notice of such fact to the Trustee and such notice shall be effective upon receipt
by the Trustee. The Trustee shall issue to each Authorized Person a unique personal identification number (the “PIN”) by which such Authorized Person shall be identified and by which instructions issued by the Authorized Participant
hereunder shall be authenticated. The PIN shall be kept confidential by the Authorized Participant and shall only be provided to the Authorized Person. If, after issuance, the Authorized Person’s PIN is changed, the new PIN shall become
effective on a date mutually agreed upon by the Authorized Participant and the Trustee. 
 Section 7. Redemption. To
facilitate orderly delivery of Chinese Renminbi to the Authorized Participant’s Account on T+3, the Authorized participant shall place with the Trustee on T+1 redemption shares or collateral having a value at least equal to 105% of the value of
the U.S. Dollar equivalent of the redemption shares to be delivered. The Trustee shall return such collateral in its entirety upon delivery of redemption shares on T+3 or at such future time as redemption shares are delivered. The parties
hereto further agree that the Trust, acting in good faith, may purchase the missing Shares at any time and the AP agrees to accept liability for any shortfall between the cost to the Trust of purchasing such shares and the value of the collateral,
which may be sold by the Trust at such time, and in such manner, as the Trust may determine in its sole discretion. 
 The
Authorized Participant further represents and warrants that it will not obtain an Order Number (as described in the Procedures) from the Trustee for the purpose of redeeming a Basket unless it first ascertains that (i) it or its customer, as
the case may be, owns outright or has full legal authority and legal and beneficial right to tender for redemption the Baskets to be redeemed and to receive the entire proceeds of the redemption, and (ii) such Baskets have not been loaned or
pledged to another party, borrowed or temporarily obtained from another party and are not the subject of any repurchase agreement, reverse repurchase agreement or securities lending agreement, or any other arrangement which would preclude the
delivery of such Baskets to the Trustee on the third Business Day following the date of the Redemption Order. 
 Section 8. Role of
Authorized Participant. 
 (a) The Authorized Participant acknowledges that, for all purposes of this
Agreement and the Trust Agreement, the Authorized Participant is and shall be deemed to be an independent contractor and has and shall have no authority to act as agent for the Trust, the Sponsor, the Trustee or the Depository, in any matter or in
any respect. 
 (b) The Authorized Participant will make itself and its employees available, upon request, during
normal business hours to consult with the Trustee, the Depository or their designees concerning the performance of the Authorized Participant’s responsibilities under this Agreement. 

(c) The Authorized Participant will maintain records of all sales of Shares made by or through it as required by law and
will furnish copies of such records to the Sponsor upon the reasonable request of the Sponsor, subject to any privacy or confidentiality obligations it may have to its customers arising under federal or state securities laws or the applicable rules
of any self regulatory organization. The Sponsor will not use any information provided by the Authorized Participant pursuant to this paragraph or disclose such information to others except in connection with the performance of its duties and
responsibilities hereunder, including making servicing and informational mailings related to the Trust, or except as may be required by applicable law. 

 Section 9. Indemnification. 

(a) The Authorized Participant hereby indemnifies and holds harmless the Trustee, the Depository, the Trust, the Sponsor,
their respective direct or indirect affiliates (as defined below) and their respective directors, officers, employees and agents (each, an “AP Indemnified Party”) from and against any losses, liabilities, damages, costs and expenses
(including attorney’s fees and the reasonable cost of investigation) incurred by such AP Indemnified Party as a result of or in connection with: (i) any breach by the Authorized Participant of any provision of this Agreement, including any
of its representations, warranties or covenants; (ii) any failure on the part of the Authorized Participant to perform any of its other obligations set forth in this Agreement; (iii) any failure by the Authorized Participant to comply with
applicable laws and the rules and regulations of any governmental entity or any self-regulatory organization; (iv) any actions of such AP Indemnified Party in reliance upon any instructions issued in accordance with the Procedures reasonably
believed by the AP Indemnified Party to be genuine and to have been given by the Authorized Participant; or (v) (A) any representation by the Authorized Participant, its employees or its agents or other representatives about the Shares,
any AP Indemnified Party or the Trust that is not consistent with the Trust’s Prospectus as then-supplemented made in connection with the offer or the solicitation of an offer to buy or sell Shares and (B) any untrue statement or alleged
untrue statement of a material fact (1) contained in any research report, marketing material or sales literature described in Section 13(b) or in any FWP prepared by the Authorized Participant or (2) furnished by the Authorized
Participant for use in a FWP prepared by, for or on behalf of the Sponsor, or any alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading to the extent that
such statement or omission relates to the Shares, any AP Indemnified Party or the Trust, unless, in either case, such representation, statement or omission was made or included by the Authorized Participant at the written direction of the Sponsor or
is based upon any omission or alleged omission by the Sponsor to state a material fact in connection with such representation, statement or omission necessary in order to make such representation, statement or omission not misleading. 

(b) The Sponsor hereby agrees to indemnify and hold harmless the Authorized Participant, its respective subsidiaries,
affiliates, directors, officers, employees and agents, and each person, if any, who controls such persons within the meaning of Section 15 of the 1933 Act (each, a “Sponsor Indemnified Party”) from and against any losses,
liabilities, damages, costs and expenses (including attorneys’ fees and the reasonable cost of investigation) incurred by such Sponsor Indemnified Party as a result of (i) any breach by the Sponsor of any provision of this Agreement that
relates to the Sponsor, including its representations, warranties and covenants; (ii) any failure on the part of the Sponsor to perform any other obligation of the Sponsor set forth in this Agreement; (iii) any failure by the Sponsor to
comply with applicable laws; or (iv) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or in any amendment thereof, or in the Prospectus, or in any amendment thereof or supplement
thereto, or in any FWP prepared by, for or on behalf of the Sponsor, or arising out of or based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein
not misleading, except those statements based on information furnished in writing by or on behalf of the Authorized Participant expressly for use in the Registration Statement, amendment thereof, Prospectus, amendment thereof or supplement thereto,
or FWP. 
 (c) (i) This Section 9 shall not apply to any AP Indemnified Party or any Sponsor
Indemnified Party (each, an “Indemnified Party”) to the extent any such losses, liabilities, damages, costs and expenses are incurred as a result of, or in connection with, any action or failure to act that constitutes gross
negligence, bad faith or willful misconduct on the part of the such Indemnified Party. (ii) The term “affiliate” in this Section 9 shall include, with respect to any person, entity or organization, any other person, entity or
organization which directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with such person, entity or organization. 

 (d) If the indemnification provided for in this Section 9 is
unavailable to an indemnified party under Sections 9(a) or 9(b) or insufficient to hold an indemnified party harmless in respect of any losses, liabilities, damages, costs and expenses referred to therein, then each applicable indemnifying party
shall contribute to the amount paid or payable by such indemnified party as a result of such losses, liabilities, damages, costs and expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Sponsor and
the Trust, on the one hand, and by the Authorized Participant, on the other hand, from the services provided hereunder or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is
appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Sponsor and the Trust, on the one hand, and of the Authorized Participant, on the other hand, in connection with, to the
extent applicable, the statements or omissions which resulted in such losses, liabilities, damages, costs and expenses, as well as any other relevant equitable considerations. The relative benefits received by the Sponsor and the Trust, on the one
hand, and the Authorized Participant, on the other hand, shall be deemed to be in the same respective proportions as the amount of Chinese Renminbi transferred to the Trust under this Agreement on the one hand (expressed in dollars) bears to the
amount of economic benefit received by the Authorized Participant in connection with this Agreement on the other hand. To the extent applicable, the relative fault of the Sponsor on the one hand and of the Authorized Participant on the other shall
be determined by reference to, among other things, whether the untrue statement or alleged untrue statement of a material fact or omission or alleged omission relates to information supplied by the Sponsor or by the Authorized Participant and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The amount paid or payable by a party as a result of the losses, liabilities, damages, costs and expenses referred to
in this Section 9(d) shall be deemed to include any legal or other fees or expenses reasonably incurred by such party in connection with investigating, preparing to defend or defending any action, suit or proceeding (each a
“Proceeding”) related to such losses, liabilities, damages, costs and expenses. 
 (e) The
Sponsor and the Authorized Participant agree that it would not be just and equitable if contribution pursuant to this Section 9 were determined by pro rata allocation or by any other method of allocation that does not take account of the
equitable considerations referred to in Section 9(d) above. The Authorized Participant shall not be required to contribute any amount in excess of the amount by which the total price at which the Shares created by the Authorized Participant and
distributed to the public were offered to the public exceeds the amount of any damage which the Authorized Participant has otherwise been required to pay by reason of such untrue statement or alleged untrue statement or omission or alleged omission.
No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 

(f) The indemnity and contribution agreements contained in this Section 9 shall remain in full force and effect
regardless of any investigation made by or on behalf of the Authorized Participant, its partners, stockholders, members, directors, officers, employees and or any person (including each partner, stockholder, member, director, officer or employee of
such person) who controls the Authorized Participant within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act, or by or on behalf of the Sponsor, its partners, stockholders, members, directors, officers, employees or
any person who controls the Sponsor within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act, and shall survive any termination of this Agreement. The Sponsor and the Authorized Participant agree promptly to notify
each other of the commencement of any Proceeding against it and, in the case of the Sponsor, against any of the Sponsor’s officers or directors, in connection with the issuance and sale of the Shares or in connection with the Registration
Statement or the Prospectus. 

 Section 10. Liability. 

(a) Limitation of Liability. None of the Sponsor, the Trustee, the Authorized Participant, and the Depository shall be
liable to each other or to any other person, including any party claiming by, through or on behalf of the Authorized Participant, for any losses, liabilities, damages, costs or expenses arising out of any mistake or error in data or other
information provided to any of them by each other or any other person or out of any interruption or delay in the electronic means of communications used by them. 

(b) Tax Liability. The Authorized Participant shall be responsible for the payment of any transfer tax, sales or use tax,
stamp tax, recording tax, value added tax and any other similar tax or government charge applicable to the creation or redemption of any Basket made pursuant to this Agreement, regardless of whether or not such tax or charge is imposed directly on
the Authorized Participant. To the extent the Trustee, the Sponsor or the Trust is required by law to pay any such tax or charge, the Authorized Participant agrees to promptly indemnify such party for any such payment, together with any applicable
penalties, additions to tax or interest thereon. 
 Section 11. Acknowledgment. The Authorized Participant
acknowledges receipt of (i) a copy of the Trust Agreement and (ii) the current Prospectus of the Trust, and represents that it has reviewed and understands such documents. 

Section 12. Effectiveness and Termination. Upon the execution of this Agreement by the parties hereto, this Agreement shall
become effective in this form as of the Time of Sale, and may be terminated at any time by any party upon thirty (30) days prior written notice to the other parties unless earlier terminated: (i) in accordance with Section 2(a)(i);
(ii) upon notice to the Authorized Participant by the Trustee in the event of a breach by the Authorized Participant of this Agreement or the procedures described or incorporated herein; (iii) immediately in the circumstances described in
Section 18(j); or (iv) at such time as the Trust is terminated pursuant to the Trust Agreement. 
 Section 13. Marketing
Materials; Representations Regarding Shares; Identification in Registration Statement. 
 (a) The Authorized
Participant represents, warrants and covenants that (i), without the written consent of the Sponsor, the Authorized Participant will not (A) make, or permit any of its representatives to make, any representations concerning the Shares or any AP
Indemnified Party other than representations contained (1) in the Prospectus of the Trust, as then amended and supplemented, (2) in printed information approved by the Sponsor as information supplemental to such Prospectus or (3) in
any promotional materials or sales literature furnished to the Authorized Participant by the Sponsor, or (B) issue any FWP pursuant to Rules 164 and 433 of the 1933 Act and (ii) the Authorized Participant will not furnish or cause to be
furnished to any person or display or publish any information or material relating to the Shares, any AP Indemnified Person or the Trust that are not consistent with the Prospectus, as then amended and supplemented. Copies of the Prospectus of the
Trust, as then amended and supplemented, and any such printed supplemental information will be supplied by the Sponsor to the Authorized Participant in reasonable quantities upon request. 

(b) Notwithstanding the foregoing, the Authorized Participant may without the written approval of the Sponsor prepare and
circulate in the regular course of its business research reports, marketing material and sales literature, but in no event FWPs, that include information, opinions or recommendations relating to the Shares (i) for public dissemination, provided
that such research reports, marketing material or sales literature is prepared in accordance with applicable rules and regulations of the 1933 Act, any applicable state securities laws and FINRA rules; or (ii) for internal use by the Authorized
Participant. The Authorized Participant will file all such research reports, marketing material and sales literature related to the Shares with FINRA to the extent required by the NASD Conduct Rules. 

 (c) The Authorized Participant and its affiliates may prepare and circulate
in the regular course of their businesses, without having to refer to the Shares or the Prospectus, as then amended and supplemented, data and information relating to the price of Chinese Renminbi. 

(d) The Authorized Participant hereby agrees that for the term of this Agreement the Sponsor may deliver the Prospectus,
and any supplements or amendments thereto or recirculation thereof, to the Authorized Participant in Portable Document Format (“PDF”) via electronic mail in lieu of delivering the Prospectus in paper form. The Authorized Participant
may revoke the foregoing agreement at any time by delivering written notice to the Sponsor and, whether or not such agreement is in effect, the Authorized Participant may, at any time, request reasonable quantities of the Prospectus, and any
supplements or amendments thereto or recirculation thereof, in paper form from the Sponsor. The Authorized Participant acknowledges that it has the capability to access, view, save and print material provided to it in PDF and that it will incur no
appreciable extra costs by receiving the Prospectus in PDF instead of in paper form. The Sponsor will, when requested by the Authorized Participant, make available at no cost the software and technical assistance necessary to allow the Authorized
Participant to access, view and print the PDF version of the Prospectus. 
 (e) For as long as this Agreement is
effective, the Authorized Participant agrees to be identified as an authorized participant of the Trust (i) in the section of the Prospectus included within the Registration Statement entitled “Creation and Redemption of Shares”
(including identifying the Authorized Participant in such section by a supplement to the Prospectus) and in any other section as may be required by the SEC and (ii) on the Trust’s website. Upon the termination of this Agreement,
(i) during the period prior to when the Sponsor qualifies and elects to file on Form S-3, the Sponsor will remove such identification from the Prospectus in the amendment of the Registration Statement next occurring after the date of the
termination of this Agreement and, during the period after when the Sponsor qualifies and elects to file on Form S-3, the Sponsor will promptly file a current report on Form 8-K indicating the withdrawal of the Authorized Participant as an
authorized participant of the Trust and (ii) the Sponsor will promptly update the Trust’s website to remove any identification of the Authorized Participant as an authorized participant of the Trust. 

Section 14. Title To Chinese Renminbi. The Authorized Participant represents and warrants that upon delivery of the Basket
Chinese Renminbi Amount (as defined in the Trust Agreement) to the Trustee in accordance with the terms of the Trust Agreement and this Agreement, the Trust will acquire good and unencumbered title to the Chinese Renminbi which are the subject of
such Basket Chinese Renminbi Amount, free and clear of all pledges, security interests, liens, charges, taxes, assessments, encumbrances, equities, claims, options or limitations of any kind or nature, fixed or contingent, and not subject to any
adverse claims, including any restriction upon the sale or transfer of all or any part of such Chinese Renminbi which is imposed by any agreement or arrangement entered into by the Authorized Participant or any party for which it is acting in
connection with a Purchase Order. 
 Section 15. Third Party Beneficiaries. Each AP Indemnified Party, to the extent
it is not a party to this Agreement, is a third-party beneficiary of this Agreement (each, a “Third Party Beneficiary”) and may proceed directly against the Authorized Participant (including by bringing proceedings against the
Authorized Participant in its own name) to enforce any obligation of the Authorized Participant under this Agreement which directly or indirectly benefits such Third Party Beneficiary. 

Section 16. Force Majeure. No party to this Agreement shall incur any liability for any delay in performance, or for the
non-performance, of any of its obligations under this Agreement by reason of any act of God or war or terrorism, acts and regulations and rules of any governmental or supra national bodies or authorities or regulatory or self-regulatory organization
or failure of any such body, authority or organization for any reason, to perform its obligations, or any cause beyond its reasonable control, including, without limitation, any breakdown, malfunction or failure of transmission in connection with or
other unavailability of any wire, communication or computer facilities, any transport, port or airport disruption, or any industrial action. 

 Section 17. Ambiguous Instructions. If a Purchase Order Form or a Redemption
Order Form otherwise in good form contains order terms that differ from the information provided in the telephone call at the time of issuance of the applicable order number, the Trustee will attempt to contact one of the Authorized Persons of the
Authorized Participant to request confirmation of the terms of the Order. If an Authorized Person confirms the terms as they appear in the Order, then the Order will be accepted and processed. If an Authorized Person contradicts the Order terms, the
Order will be deemed invalid, and a corrected Order must be received by the Trustee. If the Trustee is not able to contact an Authorized Person, then the Order shall be accepted and processed in accordance with its terms notwithstanding any
inconsistency from the terms of the telephone information. In the event that an Order contains terms that are not complete or are illegible, the Order will be deemed invalid and the Trustee will attempt to contact one of the Authorized Persons of
the Authorized Participant to request retransmission of the Order. 
 Section 18. Miscellaneous. 

(a) Amendment and Modification. This Agreement, the Procedures attached as Attachment A and the Exhibits hereto may be
amended, modified or supplemented by the Trustee and the Sponsor, without consent of any Authorized Participant from time to time by the following procedure. After the amendment, modification or supplement has been agreed to, the Trustee will mail a
copy of the proposed amendment, modification or supplement to the Authorized Participant. For the purposes of this Agreement, mail will be deemed received by the recipient thereof on the third (3rd) day following the deposit of such mail into
the United States postal system. Within ten (10) calendar days after its deemed receipt, the amendment, modification or supplement will become part of this Agreement, the Attachments or the Exhibits, as the case may be, in accordance with its
terms. If at any time there is any material amendment, modification or supplement of any Participant Agreement (other than this Agreement), the Trustee will promptly mail a copy of such amendment, modification or supplement to the Authorized
Participant. 
 (b) Waiver of Compliance. Any failure of any of the parties to comply with any obligation,
covenant, agreement or condition herein may be waived by the party entitled to the benefits thereof only by a written instrument signed by the party granting such waiver, but any such written waiver, or the failure to insist upon strict compliance
with any obligation, covenant, agreement or condition herein, shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure. 
 (c) Notices. Except as otherwise specifically provided in this Agreement, all notices required or permitted to be given pursuant to this Agreement shall be given in writing and delivered by personal
delivery, by postage prepaid registered or certified United States first class mail, return receipt requested, by nationally recognized overnight courier (delivery confirmation received) or by telex, telegram or telephonic facsimile or similar means
of same day delivery (transmission confirmation received), with a confirming copy regular mailed, postage prepaid. For avoidance of doubt, notices may not be given or transmitted by electronic mail. Unless otherwise notified in writing, all notices
to the Trust shall be given or sent to the Trustee. All notices shall be directed to the address or telephone or facsimile numbers indicated below the signature line of the parties on the signature page hereof. 

(d) Successors and Assigns. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit
of the parties and their respective successors and permitted assigns. 
 (e) Assignment. Neither this Agreement
nor any of the rights, interests or obligations hereunder shall be assigned by any party without the prior written consent of the other parties, except that any entity into which a party hereto may be merged or converted or with which it may be
consolidated or any entity resulting from any merger, conversion, or consolidation to which such party hereunder shall be a party, or any entity succeeding to all or substantially all of the business of the party, shall be the successor of the party
under this Agreement. The party resulting from any such merger, conversion, consolidation or succession shall notify the other parties hereto of 

 
the change. Any purported assignment in violation of the provisions hereof shall be null and void. Notwithstanding the foregoing, this Agreement shall be automatically assigned to any successor
Trustee or Sponsor at such time such successor qualifies as a successor Trustee or Sponsor under the terms of the Trust Agreement. 
 (f) Governing Law; Consent to Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of New York (regardless of the laws that might otherwise govern under
applicable New York conflict of laws principles) as to all matters, including matters of validity, construction, effect, performance and remedies. Each party hereto irrevocably consents to the jurisdiction of the courts of the State of New York and
of any federal court located in the Borough of Manhattan in such State in connection with any action, suit or other proceeding arising out of or relating to this Agreement or any action taken or omitted hereunder, and waives any claim of forum non
convenient and any objections as to laying of venue. Each party further waives personal service of any summons, complaint or other process and agrees that service thereof may be made by certified or registered mail directed to such party at such
party’s address for purposes of notices hereunder. Each party hereby waives its right to a trial by jury of any claim arising under or in connection with this Agreement. 

(g) Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an
original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement, and it shall not be necessary in making proof of this Agreement as to any party hereto to produce or account for more
than one such counterpart executed and delivered by such party. 
 (h) Interpretation. The article and section
headings contained in this Agreement are solely for the purpose of reference, are not part of the agreement of the parties and shall not in any way affect the meaning or interpretation of this Agreement. 

(i) Entire Agreement. This Agreement and the Trust Agreement, along with any other agreement or instrument delivered
pursuant to this Agreement and the Trust Agreement, supersede all prior agreements and understandings between the parties with respect to the subject matter hereof, provided, however, that the Authorized Participant shall not be deemed by this
provision to be a party to the Trust Agreement. 
 (j) Severance. If any provision of this Agreement is held by
any court or any act, regulation, rule or decision of any other governmental or supra national body or authority or regulatory or self-regulatory organization to be invalid, illegal or unenforceable for any reason, it shall be invalid, illegal or
unenforceable only to the extent so held and shall not affect the validity, legality or enforceability of the other provisions of this Agreement and this Agreement will be construed as if such invalid, illegal, or unenforceable provision had never
been contained herein, unless the Sponsor determines in its discretion, after consulting with the Trustee, that the provision of this Agreement that was held invalid, illegal or unenforceable does affect the validity, legality or enforceability of
one or more other provisions of this Agreement, and that this Agreement should not be continued without the provision that was held invalid, illegal or unenforceable, and in that case, upon the Sponsor’s notification of the Trustee of such a
determination, this Agreement shall immediately terminate and the Trustee will so notify the Authorized Participant immediately. 
 (k) No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rule of strict construction will be applied
against any party. 
 (l) Survival. Sections 9 (Indemnification) and 15 (Third Party Beneficiaries) hereof shall
survive the termination of this Agreement. 
 (m) Other Usages. The following usages shall apply in interpreting
this Agreement: (i) references to a governmental or quasigovernmental agency, authority or instrumentality shall also refer to a 

 
regulatory body that succeeds to the functions of such agency, authority or instrumentality; and (ii) “including” means “including, but not limited to.” 

*  *  *  *  *  *  * 

 IN WITNESS WHEREOF, the Authorized Participant, the Sponsor and the Trustee, on behalf of
the Trust, have caused this Agreement to be executed by their duly authorized representatives as of the date first set forth above. 
  

									
	 THE BANK OF NEW YORK MELLON,
 not in its individual capacity, but solely as Trustee of the
CurrencyShares® Chinese Renminbi Trust
	 		 	 [AUTHORIZED PARTICIPANT]

					
	 By:
	 	  
	 		 	 By:
	 	  

		 	 Name:
	 		 		 	 Name:

		 	 Title
	 		 		 	 Title

					
	 Address:
	 		 		 	 Address:
	 	
					
	 Telephone:
	 		 		 	 Telephone:
	 	
					
	 Facsimile:
	 		 		 	 Facsimile:
	 	

  

	
	 RYDEX SPECIALIZED PRODUCTS LLC,

	 Sponsor of the
CurrencyShares® Chinese Renminbi Trust

	
	  

	 Name:

	 Title:

	
	 Address:

	
	 Telephone:

	
	 Facsimile:

 EXHIBIT A 

CURRENCYSHARES® CHINESE RENMINBI TRUST 
 FORM OF
CERTIFIED AUTHORIZED PERSONS OF AUTHORIZED PARTICIPANT 
 The following are the names, titles and signatures
of all persons (each an “Authorized Person”) authorized to give instructions relating to any activity contemplated by the Participant Agreement or any other notice, request or instruction on behalf of the Authorized Participant
pursuant to the CurrencyShares® Chinese Renminbi Trust Participant Agreement. 

 

							
	 Authorized Participant:
	  	
                 
                                        

	  		  	
				
	 Name:
	  	 Name:
	  		  	
				
	 Title:
	  	 Title:
	  		  	
				
	 Signature:
	  	 Signature:
	  		  	
				
	 Name:
	  	 Name:
	  		  	
				
	 Title:
	  	 Title:
	  		  	
				
	 Signature:
	  	 Signature:
	  		  	

 The undersigned, [name], [title] of [company], does hereby certify that the persons
listed above have been duly elected to the offices set forth beneath their names, that they presently hold such offices, that they have been duly authorized to act as Authorized Persons pursuant to the CurrencyShares® Chinese Renminbi Trust Participant Agreement by and between [Authorized Participant] and the Trustee and the Sponsor
of the CurrencyShares® Chinese Renminbi Trust, dated
[                    ], and that their signatures set forth above are their own true and genuine signatures. 

In Witness Whereof, the undersigned has hereby set his/her hand on the date set forth below. 

 

			
	 Subscribed and sworn to before me
	 	 By:

	 this             day
of                     ,20    
	 	
		 	 Name:

		
		 	 Title:

		
		 	 Date:

 Notary Public 
 Note: Print on Company Letterhead prior to executing 

 EXHIBIT B 

CURRENCYSHARES® CHINESE RENMINBI TRUST 
 PURCHASE ORDER
FORM 
 THE BANK OF NEW YORK MELLON, TRUSTEE 
  

 
 CONTACT INFORMATION FOR ORDER
EXECUTION: 

			
	 Telephone order number:
	  	 (718) 315-4970 or 4967

	 Fax order number:
	  	 (718) 315-4881

		  	Depository Instructions [                    ]
		  	Acc: JPMorgan Chase Bank, N.A. London (CHASGB2L)
		  	No: [                    ]
		  	FFC: Currency Shares® Chinese Renminbi
Trust [                    ]
		  	IBAN# [                    ]

  
  

Participant must complete all items in Part I. The Trustee, in its discretion may reject any order not submitted in complete form.

 I.    TO BE COMPLETED BY PARTICIPANT: 

							
	
Date:                            
                                         
                                         
  
	 		  	 Time:
	  	
                 
                

	
Broker Name:                          
                                         
                             
	 		  	 Firm Name:
	  	  

	
DTC Participant Number:                        
                                         
           
	 		  	 Fax Number:
	  	  

	
Telephone Number:                         
                                         
                  
	 		  		  	
		 		  	(One Basket = 50,000 FXCH Shares)
		
		 	Number of Baskets
Transacted:                                       
 

  

									
	 Order #
	 	      
	 		  	Number written
out:                            

 This Purchase Order is subject to the terms and conditions of the Depositary Trust
Agreement of the CurrencyShares® Chinese Renminbi Trust as currently in effect and the Participant Agreement
between the Authorized Participant, the Trustee and the Sponsor named therein. All representations and warranties of the Authorized Participant set forth in such Depositary Trust Agreement and such Participant Agreement are incorporated herein by
reference and are true and accurate as of the date hereof. 
 The undersigned does hereby certify as of the date set forth below
that he/she is an Authorized Person under the Participant Agreement and that he/she is authorized to deliver this Purchase Order to the Trustee on behalf of the Authorized Participant. The Authorized Participant enters into this agreement based on
an estimated Basket Chinese Renminbi Amount disseminated the previous business day and recognizes the final Basket Chinese Renminbi Amount represented will be decreased based on the Trust’s daily accrual. At the conclusion of the trading day a
final NAV will be disseminated to all Authorized Participants, and the Basket Chinese Renminbi Amount required for the Purchase Order entered into on this day will be finalized and this Purchase Order will serve as a legally binding contract for
settlement on the third New York business day following the date hereof, unless that day is not a business day in China, in which case settlement will be the next following day that is a business day in both New York and China. 

 

					
	  
	  		  	  

	 Date
	  		  	Authorized Person’s Signature

  

	II.	 TO BE COMPLETED BY TRUSTEE: 

 This certifies that the above order has been: 

                    Accepted by the Trustee

                    Declined-Reason: 
                                         
                                         
                                         
         
  

					
	
Final # of Chinese Renminbi                     
                    
	 		 	 Final # of FXCH
Shares                    

 EXHIBIT B 

 

									
	  
	 		  	  
	 		  	  

	 Date
	 		  	 Time
	 		  	 Authorized Signature of Trustee

 EXHIBIT C 

CURRENCYSHARES® CHINESE RENMINBI TRUST 
 REDEMPTION ORDER
FORM 
 THE BANK OF NEW YORK MELLON, TRUSTEE 
  

 
 CONTACT INFORMATION FOR ORDER
EXECUTION: 

			
	 Telephone order number:
	  	 (718) 315-4970 or 4967

	 Fax order number:
	  	 (718) 315-4881

	Depository Instructions	  	

  
  

Participant must complete all items in Part I. The Trustee, in its discretion may reject any order not submitted in complete form.

 I.    TO BE COMPLETED BY PARTICIPANT: 

							
	
Date:                            
                                         
                                         
  
	 		  	 Time:
	  	
                 
                

	
Broker Name:                          
                                         
                             
	 		  	 Firm Name:
	  	  

	
DTC Participant Number:                        
                                         
           
	 		  	 Fax Number:
	  	  

	
Telephone Number:                         
                                         
                  
	 		  		  	
		 		  	(One Basket = 50,000 FXCH Shares)
		
		 	Number of Baskets
Surrendered:                                      
  

  

									
	 Order #
	 	      
	 		  	Number written
out:                            

 This Redemption Order is subject to the terms and conditions of the Depositary Trust
Agreement of the CurrencyShares® Chinese Renminbi Trust as currently in effect and the Participant Agreement
between the Authorized Participant, the Trustee and the Sponsor named therein. All representations and warranties of the Authorized Participant set forth in such Depositary Trust Agreement and such Participant Agreement are incorporated herein by
reference and are true and accurate as of the date hereof. 
 The undersigned does hereby certify as of the date set forth below
that he/she is an Authorized Person under the Participant Agreement and that he/she is authorized to deliver this Redemption Order to the Trustee on behalf of the Authorized Participant. The Authorized Participant enters into this agreement based on
an estimated Basket Chinese Renminbi Amount disseminated the previous business day and recognizes the final Basket Chinese Renminbi Amount represented will be decreased based on the Trust’s daily accrual. At the conclusion of the trading day a
final NAV will be disseminated to all Authorized Participants, and the Basket Chinese Renminbi Amount required for the Redemption Order entered into on this day will be finalized and this Redemption Order will serve as a legally binding contract for
settlement on the third New York business day following the date hereof, unless that day is not a business day in China, in which case settlement will be the next following day that is a business day in both New York and China. 

 

					
	  
	  		  	  

	 Date
	  		  	Authorized Person’s Signature

  

	II.	 TO BE COMPLETED BY TRUSTEE: 

 This certifies that the above order has been: 

                    Accepted by the Trustee

                    Declined-Reason: 
                                         
                                         
                                         
         
  

					
	
Final # of Chinese Renminbi                     
                    
	 		 	 Final # of FXCH
Shares                    

  

									
	  
	 		  	  
	 		  	  

	 Date
	 		  	 Time
	 		  	 Authorized Signature of Trustee

 ATTACHMENT A 
 CREATION AND REDEMPTION OF CHINESE RENMINBI SHARES AND 
 RELATED CHINESE
RENMINBI TRANSACTIONS 
 Scope of Procedures and Overview 

These procedures (the “Procedures”) describe the processes by which one or more Baskets of Chinese
Renminbi Trust shares (the “Shares”) issuable by The Bank of New York Mellon, as trustee (the “Trustee”) of the CurrencyShares® Chinese Renminbi Trust (the “Trust”), may be purchased or, once Shares have been issued, redeemed by an Authorized Participant. Shares may be created
or redeemed only in blocks of 50,000 Shares (each such block, a “Basket”). Because the issuance and redemption of Baskets also involve the transfer of Chinese Renminbi between the Authorized Participant and the Trust, certain
processes relating to the underlying transfers of Chinese Renminbi also are described. 
 Under these Procedures, Baskets may be
issued only in consideration for Chinese Renminbi transferred to and held in the Trust’s accounts maintained in London, England by London Branch of JPMorgan Chase Bank, N.A., as depository (the “Depository”). Capitalized terms
used in these Procedures without further definition have the meanings assigned to them in the Depositary Trust Agreement, dated as of [            ], 2011, between Rydex Specialized
Products LLC (the “Sponsor”), the Trustee, the registered owners and beneficial owners from time to time of Shares issued thereunder and all depositors (the “Trust Agreement”), or the Participant Agreement entered
into by each Authorized Participant with the Sponsor and the Trustee. 
 For purposes of these Procedures, a “NY
Business Day” is defined as any day other than (i) a Saturday or Sunday or (ii) a day on which the New York Stock Exchange (the “NYSE”) is not open for regular trading at noon New York City time and a
“Local Business Day” is defined as any day other than (i) a Saturday or Sunday or (ii) a day which has been designated a bank holiday in China. 
 Baskets are issued pursuant to the Prospectus, which will be delivered by the Sponsor to each Authorized Participant prior to its execution of the Participant Agreement, and are issued and redeemed in
accordance with the Trust Agreement and the Participant Agreement. Baskets may be issued and redeemed on any Business Day by the Trustee in exchange for euro, which the Trustee receives from Authorized Participants or transfers to Authorized
Participants, in each case on behalf of the Trust. Authorized Participants will be required to pay a nonrefundable per order transaction fee of $500 to the Trustee. Also, in connection with each Purchase Order and Redemption Order (each as defined
below) for two or more Baskets, the Authorized Participant shall pay an additional transaction fee, as follows: 
  

					
	 Baskets Created or Redeemed Per Order
	  	Additional Transaction Fee	 
	 2
	  	$	500	  
	 3
	  	$	1,000	  
	 4
	  	$	1,500	  
	 5 or more
	  	$	2,000	  

 The additional transaction fee described above shall be remitted to the Authorized Participant to the
Trustee in accordance with these Procedures. The Trustee shall then remit payment of the additional transaction fee to the Sponsor. The fees described above shall collectively be referred to herein as “Transaction Fees”. 

Authorized Participants and the Trust Transfer Chinese Renminbi and Baskets of Shares 

Upon acceptance of the Participant Agreement by the Sponsor and the Trustee, the Trustee will assign a personal identification number (a
“PIN”) to each person authorized to act for the Authorized Participant (an “Authorized Person”). This will allow the Authorized Participant through its Authorized Person(s) to place Purchase Order(s) or Redemption Order(s)
(each as defined herein and, together, “Orders”) for Baskets. 

 Important Notes: 

 

	•	 	 Any Order is subject to rejection by the Trustee for the reasons set forth in the Trust Agreement. 

 

	•	 	 All Orders are subject to the provisions of the Participant Agreement relating to unclear or ambiguous instructions. 

  
 A-2

 CREATION PROCESS 

OVERVIEW 

The following describes the process by which Baskets are created. In summary, an order to purchase one or more Baskets of Shares is
placed by an Authorized Participant with the Trustee by 4:00 p.m. New York City (“NYC”) time on the NY Business Day that is the Order Date under the Trust Agreement (“CREATION T”), and a Basket is created on the
third NY Business Day following CREATION T, unless that day is not a Local Business Day, in which case creation of the Basket shall be the next following day that is both a New York Business Day and a Local Business Day (“CREATION T+3”).
In order for the creation of a Basket to occur, the Authorized Participant must transfer to the Trust Chinese Renminbi and the Trustee will transfer to the Authorized Participant’s account at The Depository Trust Company
(“DTC”) Baskets corresponding to the Chinese Renminbi the Participant has transferred to the Trust. 
  

	C1	CREATION T (PURCHASE ORDER TRADE DATE) 

 C1.1 By the 4:00 p.m. NYC time (the “Order Cut-Off Time”), or by 12:00 p.m. NYC time on the monthly dividend declaration date (the “Early Order Cut-Off Time”), the Authorized
Participant submits to the Trustee the Authorized Participant’s order to create one or more Baskets of Shares (a “Purchase Order”) in accordance with the following process. 

C1.1.1 By the Order Cut-Off Time or the Early Order Cut-Off Time, as applicable, an Authorized Person of the Authorized Participant calls
the Trustee at 718-315-4970 or 4967, notifying the Trustee that the Authorized Participant wishes to place a Purchase Order for the Trustee to create an identified number of Baskets of Shares and requesting that the Trustee provide an order number.
The Authorized Person provides a PIN as identification to the Trustee. 
 C1.1.2 Incoming telephone calls are queued and will be
handled in the sequence received. The Trustee will process Purchase Orders if the phone call initiated by the Authorized Person is placed before the Order Cut-Off Time or the Early Order Cut-Off Time, as applicable, even though the remainder of the
order process is not completed until after the Order Cut-Off Time or the Early Order Cut-Off Time. Accordingly, do not hang up and redial. 
 C1.1.3 Purchase Orders initiated after the Order Cut-Off Time or the Early Order Cut-Off Time , as applicable will be rejected. 
 C1.1.4 During the phone call from the Authorized Person of the Authorized Participant to initiate a Purchase Order, the Trustee will give an order number for the Authorized Participant’s Purchase
Order. 
 C1.1.5 Within 15 minutes after receiving the order number from the Trustee, the Authorized Participant will fax the
Purchase Order to the Trustee using the Purchase Order Form included as part of the Participant Agreement. 
 C1.1.6 The
Purchase Order Form provides, among other things, for the number of Baskets that the Authorized Participant is ordering and the condition that the Purchase Order is subject to the Trustee’s receipt of the Transaction Fees (by DTC SPO Charge)
prior to delivery of the Baskets on CREATION T+3. 
 C1.1.7 If the Trustee has not received the Purchase Order Form from the
Authorized Participant within 15 minutes after the Authorized Person placed the phone call to the Trustee, the Trustee places a phone call to the Authorized Participant to inquire about the status of the order. If the Authorized Participant does not
fax the Purchase Order Form to the Trustee within 15 minutes after the Trustee’s phone call, the Authorized Participant’s order is cancelled, but the Authorized Participant will remain liable to the Trustee for the Transaction Fees.

  
 A-3

 C1.2 If the Trustee has received the Authorized Participant’s Purchase Order Form on
time in accordance with the preceding timing rules, then by 4:15 p.m. NYC time on CREATION T, the Trustee will return to the Participant a copy of the Purchase Order Form submitted, marking it “Affirmed subject to receipt of the Transaction
Fees prior to delivery of Baskets on CREATION T+3” (Current process is to simply approve the order in the appropriate section of the form) and indicating, on a preliminary basis subject to confirmation, the number of Chinese Renminbi the
Participant must transfer in exchange for the Basket(s). 
 C1.3 The Participant ensures that by 3:00 p.m. Hong Kong time
(usually 2:00 a.m NYC EST time) on CREATION T+3 that sufficient Chinese Renminbi are wire transferred to the Depository. 
 C1.4
NOTES FOR AUTHORIZED PARTICIPANT (CREATION T) 
 C1.4.1 The Authorized Participant must be a participating member of DTC.

 C1.4.2 The Authorized Participant must be able to transfer Chinese Renminbi via (RTGSplus, EBA EURO1 or TARGET). SWIFT BIC
– CHASGB2L. 
 C1.4.3 The Authorized Participant must have signed and delivered the Participant Agreement to the Trustee.
The Trustee will accept an Authorized Participant based on the representations made by the Authorized Participant in the Participant Agreement. The Trustee will not perform other due diligence or investigation of Authorized Participants. 

C1.4.4 The Authorized Participant must have in place, before a Purchase Order can be processed, account instructions for Chinese Renminbi
transfers with its sending financial institution. 
 C1.4.5 By 3:00 p.m. Hong Kong time on CREATION T+3, Chinese Renminbi in the
amount needed to acquire the Shares must be standing to the credit of the Deposit Account in order for the Authorized Participant to receive Baskets on CREATION T+3. 
 C1.4.6 An Authorized Participant may only deliver Chinese Renminbi for credit to the Depository in the following ways (RTGSplus, EBA EURO1 or TARGET). SWIFT BIC – CHASGB2L. 

C1.4.7 Prior to the delivery of the Baskets by the Trustee on CREATION T+3, the Authorized Participant must accept a DTC SPO Charge for
the applicable Transaction Fees from the Trustee. Purchase Orders for which the Trustee has not received the Transaction Fees will be cancelled subject to handling pursuant to supplemental procedures to be issued, but in any event the Authorized
Participant will remain obligated to the Trustee for the Transaction Fees. 
 C1.5 NOTES FOR TRUSTEE (CREATION T) 

C1.5.1 Based on the Purchase Orders placed with it on CREATION T, the Trustee sends an email message to the Depository (by CREATION T+1)
indicating the approximate total amount of Chinese Renminbi that the Depository will receive from the Authorized Participant on CREATION T+3. 
 C1.5.2 The Depository receives the Trustee’s email message about the approximate total amount of Chinese Renminbi the Authorized Participant is required to transfer not later than 3:00 p.m. Hong Kong
time on CREATION T+3. 

  
 A-4

	C2	CREATION T+1 

 C2.1 The Purchase
Orders and instructions given on CREATION T are all pending with the Trustee. 
 C2.2 On CREATION T+1 the Trustee notifies the
Authorized Participant of the final amount of Chinese Renminbi that must be deposited in the Deposit Account (the “Basket Chinese Renminbi Amount”) not later than 3:00 p.m. Hong Kong time on CREATION T+3. (This amount shall contain the
principal amount of the order and, whenever applicable, the accrued interest for days T and T+1 as well as an estimate of the accrued interest on T+2 that shall be calculated by utilizing the accrued interest for day T+1 and multiplying it by a
factor of 1.05) 
 C2.3 By 5:00 p.m. NYC time, based on the Purchase Orders placed with it on CREATION T, the Trustee sends an
authenticated electronic message (SWIFT MT210) to the Depository indicating the total amount of Chinese Renminbi that the Depository will receive from the Authorized Participant on CREATION T+3. 

 

	C3	CREATION T+2 

 C3.1 The Purchase
Orders and final instructions given on CREATION T+1 are all pending 
  

	C4	CREATION T+3 

 C4.1 By 3:00 p.m.
Hong Kong time (usually 2:00 a.m NYC time), the Depository has received each Authorized Participant’s wire transfer of the Basket Chinese Renminbi Amount in the Deposit Account. 

C4.2 As of 3:00 p.m. Hong Kong time, the Depository notifies the Trustee that the Basket Chinese Renminbi Amount has been transferred
into the Deposit Account by an authenticated electronic message (SWIFT MT910). 
 C4.3 Prior to the delivery of the Baskets on
CREATION T+3, the Trustee must have received the Transaction Fees from the Authorized Participant (SPO/DTC Charge). 
 C4.4 At
11:00 a.m. NYC time, following receipt of the notice from the Depository confirming the transfer of the Basket Chinese Renminbi Amount to the Deposit Account, the Trustee authorizes the creation and issuance of the Baskets ordered by each Authorized
Participant on CREATION T for which the Trustee has received confirmation from the Depository of receipt of the Basket Chinese Renminbi Amount. 
 C4.5 By 11:00 a.m NYC time, following receipt of the notice from the Depository confirming the transfer of the Basket Chinese Renminbi Amount to the Deposit Account, the Trustee notifies its transfer
agent service desk that it has authorized the creation and issuance of Baskets in the number specified, and to increase the number of Shares outstanding accordingly. By 11:00 a.m. NYC time, following receipt of the notice from the Trustee that it
has authorized the creation and issuance of Shares in the number specified, the Trustee’s transfer agent service desk increases the number of Shares outstanding, and notifies the Trustee and the Trustee’s DTC operations desk that an
increased number of Shares is now outstanding and available for release in accordance with the Trustee’s instructions. 

C4.6 By 11:00 a.m NYC time, following receipt of notice from the Trustee’s transfer agent service desk that the number of Shares now
outstanding has been increased, the Trustee notifies its DTC operations desk to release the increased number of Shares through DTC to the DTC participant accounts of the Authorized Participants scheduled to receive Baskets on CREATION T+3 for whom
the Trustee has received confirmation from the Depository that the Basket Chinese Renminbi Amount has been received into the Deposit Account. 

  
 A-5

 C4.7 Following the close of business (usually 4:00 p.m. Hong Kong) on CREATION T+3, the
Depository makes appropriate entries in its books and records to reflect the creation of Baskets. 
 C4.8 Following the close of
business (usually 4:00 p.m. Hong Kong time) on CREATION T+3, the Depository Chinese Renminbi system updates account records, recording the movements of Chinese Renminbi in the Deposit Account and providing updated balances in the affected accounts
as of the close of business (usually 4:00 p.m. Hong Kong time) on CREATION T+3. 
 C4.9 Following the close of business (usually
4 p.m. Hong Kong time) on CREATION T+3, the Depository Chinese Renminbi system automatically generates authenticated electronic messages (SWIFT MT940 or SWIFT MT950) constituting a statement of the activity affecting the Deposit Account (received
only by the Trustee). 
 C4.10 If the Authorized Participant fails to deliver Chinese Renminbi by 3:00 p.m. Hong Kong time on
CREATION T+3, (a) the Trustee will apply a late fee equal to four (4) times the creation charge; and (b) the Depository may, in its reasonable discretion, apply a late fee calculated in accordance with standard industry practices.

 In the event any such late fees are assessed, the Trustee will coordinate with the Authorized Participant to arrange payment
of such fees. 
 REDEMPTION PROCESS 
 OVERVIEW 
 The following describes the process by which Baskets are
redeemed. In summary, an order to redeem one or more Baskets of Shares is placed by an Authorized Participant with the Trustee by 4:00 p.m. NYC time on the NY Business Day that is the Order Date under the Trust Agreement (“REDEMPTION
T”), Baskets to be redeemed are delivered to the Trustee by 2:00 a.m. Hong Kong time (usually 1:00 p.m. NYC time) on the second NY Business Day following REDEMPTION T, unless that day is not a Local Business Day, in which case Baskets shall
be delivered the next following day that is both a New York Business Day and a Local Business Day (“REDEMPTION T+2”) and the Authorized Participant receives the corresponding Chinese Renminbi on the third NY Business Day following
REDEMPTION T (“REDEMPTION T+3”). In order for the redemption of a Basket to occur, the Authorized Participant must pay a transaction fee and the Trustee will instruct the Depository to transfer to the Authorized Participant Chinese
Renminbi corresponding to the Baskets delivered for redemption. 
  

	R1	REDEMPTION T (REDEMPTION ORDER TRADE DATE) 

 R1.1 By the Order Cut-Off Time or the Early Order Cut-Off Time, as applicable, the Authorized Participant submits to the Trustee the Authorized Participant’s order to redeem one or more Baskets of
Shares (a “Redemption Order”) in accordance with the following process. 
 R1.1.1 By the Order Cut-Off Time or
the Early Order Cut-Off Time, as applicable, an Authorized Person of the Authorized Participant calls the Trustee at 718-315-4970 or 4967, notifying the Trustee that the Authorized Participant wishes to place a Redemption Order for the Trustee to
redeem an identified number of Baskets of Shares and requesting that the Trustee provide an order number. The Authorized Person provides a PIN as identification to the Trustee. 

R1.1.2 Incoming telephone calls are queued and will be handled in the sequence received. The Trustee will process the Redemption Order(s)
if the phone call initiated by the Authorized Person is placed before the Order Cut-Off Time or the Early Order Cut-Off Time as applicable, even though the remainder of the order process is not completed until after the Order Cut-Off Time or the
Early Order Cut-Off Time. Accordingly, do not hang up and redial. 

  
 A-6

 R1.1.3 Redemption Orders initiated after the Order Cut-Off Time or the Early Order Cut-Off
Time are rejected. 
 R1.1.4 During the phone call from the Authorized Person of the Authorized Participant to initiate a
Redemption Order, the Trustee will give an order number for the Authorized Participant’s Redemption Order. 
 R1.1.5 Within
15 minutes after the phone call initiating the Redemption Order, the Authorized Participant will fax the Redemption Order to the Trustee using the Redemption Order Form included as part of the Participant Agreement. 

R1.1.6 The Redemption Order Form provides, among other things, for the number of Baskets that the Authorized Participant is redeeming and
the condition that the Redemption Order is subject to Trustee’s receipt of the Transaction Fees by SPO/DTC Charge on REDEMPTION T+2 prior to the delivery of the Chinese Renminbi to the Authorized Participant. 

R1.1.7 If the Trustee has not received the Redemption Order Form from the Authorized Participant within 15 minutes after the Authorized
Person placed the phone call to the Trustee, the Trustee places a phone call to the Authorized Participant to inquire about the status of the order. If the Authorized Participant does not fax the Redemption Order Form to the Trustee within 15
minutes after the Trustee’s phone call, the Authorized Participant’s order is cancelled, but the Authorized Participant will remain liable to the Trustee for the Transaction Fees. 

R1.2 If the Trustee has received the Authorized Participant’s Redemption Order Form on time in accordance with the preceding timing
rules, then by 4:15 p.m. NYC time on REDEMPTION T, the Trustee will return to the Authorized Participant a copy of the Redemption Order Form submitted, marking it “Affirmed subject to receipt of Transaction Fees on REDEMPTION T+2 prior to
delivery of the Chinese Renminbi” and indicating, on a preliminary basis subject to confirmation, the number of Chinese Renminbi the Participant will receive upon redemption of the indicated Basket(s) of Shares. 

R1.3 NOTES FOR TRUSTEE AND DEPOSITORY (REDEMPTION T) 
 R1.3.1 On REDEMPTION T, the Trustee will prepare an authenticated electronic message (SWIFT MT202 or MT103plus) containing instructions specifying REDEMPTION T+3 as the date on which the instructions will
be executed. 
 R1.3.2 The Trustee will deliver the authenticated electronic message (SWIFT MT202 or MT103plus) to the
Depository on REDEMPTION T+1 only after confirming the Trustee’s receipt of redemption shares or collateral consisting of cash in U.S. Dollars having a value at least equal to 105 % of the value of the Chinese Renminbi redemption shares to
be delivered 
  

	R2	REDEMPTION T+1 

 R2.1 Redemption
Orders and related instructions are in process. 
 R2.2 By 1:00PM New York Time, the Authorized participant delivers to the
Trustee the redemption shares or collateral having a value at least equal to 105% of the value of the U.S. Dollar equivalent of the Chinese Renminbi redemption shares to be delivered 

R2.3 By 5:00 p.m. NYC time, the Trustee sends an authenticated electronic message (SWIFT MT202 or MT103plus) to the Depository directing
the Depository to transfer the Basket Chinese Renminbi Amount on T+3 to the accounts of those Authorized Participants from whom the Trustee has received the redemption shares or collateral 

  
 A-7

 R2.4 On REDEMPTION T+1 the Trustee notifies the Authorized Participant of the final amount
of Chinese Renminbi that will be delivered to the Authorized Participant on REDEMPTION T+3 (the “Basket Chinese Renminbi Amount”). (This amount shall contain the principal amount of the order and, whenever applicable, the accrued interest
for days T and T+1 as well as an estimate of the accrued interest on T+2 that shall be calculated by utilizing the accrued interest for day T+1. 
 R2.5 Prior to the delivery of instructions from the Trustee to the Depository directing the Depository to transfer the Basket Chinese Renminbi Amount on REDEMPTION T+3, the Trustee must have received the
Transaction Fees and the redemption shares or the collateral amount from the Authorized Participant (SPO/DTC Charge). 
  

	R3	REDEMPTION T+2 

 R3.1 The
Redemption Orders and final instructions given on REDEMPTION T+1 are all pending 
  

	R4	REDEMPTION T+3R 

 4.1 By
3:00 p.m. NYC time, the Authorized Participant delivers free to the Trustee’s participant account at DTC (#    2209            ) the Shares to be
redeemed, if collateral was posted on T+1. 
 R4.2.1 By 3:00 p.m. NYC time, the Trustee’s DTC operations desk notifies the
Trustee whether the Shares being redeemed by the Authorized Participant have been received into the Trustee’s participant account at DTC. 
 R4.2.2 By 3:00 p.m. NYC time, if the Shares being redeemed by the Authorized Participant have been received into the Trustee’s participant account at DTC, the Trustee’s DTC operations desk
accepts the Shares to be redeemed notifies the Trustee that the Trustee has received the Authorized Participant’s Shares and identifies the Authorized Participant from whom the Shares have been received. 

R4.2.3 Upon receipt of the Authorized Participant’s Shares, the Trustee returns the Authorized Participants collateral. In the event
that ETF shares are not received by T+3, an additional amount of cash shall be required to be deposited with the Trust, pending delivery of the missing shares to the extent necessary to maintain the cash collateral on deposit with the Trust in an
amount equal to 105% of the daily marked to market value of the missing ETF shares. 
 R4.3.1 By DTC free delivery cut-off time
(usually 3:00 p.m. NYC time), the Trustee’s DTC operations desk instructs the Trustee’s transfer agent services desk to cancel Shares received for redemption. 
 R4.3.2 By DTC free delivery cut-off time (usually 3:00 p.m. NYC time), the Trustee’s transfer agent services desk cancels the Authorized Participant’s Shares received for redemption and reduces
the number of Trust Shares outstanding. 
 R4.4 Following the close of business (usually 3:30 p.m. NYC time) on REDEMPTION T+3,
the Depository makes the appropriate entries in its books and records to reflect the redemptions. 
 R4.5 Following the close of
business (usually 3:30 p.m. GMT) on REDEMPTION T+3, the Depository Chinese Renminbi system updates its account records, recording the movements of Chinese Renminbi in the Deposit Account and providing updated balances in the affected accounts as of
the close of business (usually 3:30 p.m. GMT) on REDEMPTION T+3. 

  
 A-8

 R4.6 Following the close of business (usually 3:30 p.m. GMT) on REDEMPTION T+3, the
Depository Chinese Renminbi system automatically generates an authenticated electronic message (SWIFT MT140 or Swift MT950) constituting a statement of the activity affecting the Deposit Account (received only by the Trustee). 

  
 A-9Form of Deposit Account Agreement

 Exhibit 10.2 
 DEPOSIT ACCOUNT AGREEMENT 
 GLOBAL ACCOUNT TERMS 

The Bank of New York Mellon, in its capacity as trustee (the “Customer”) of the CurrencyShares® Chinese Renminbi Trust, a trust formed under New York law (the “Trust”), and the London Branch of
JPMorgan Chase Bank, N.A. (the “Bank”) undertake to comply with and be bound by the following Global Account Terms of this Deposit Account Agreement (this “Agreement”). 

ESTABLISHING ACCOUNTS 
  

	1.1	The Customer’s Chinese Renminbi-denominated (i) interest-bearing account (the “Interest Account”) and (ii) non-interest-bearing account
(the “Non-Interest Account”) (each individually the “Account” and collectively the “Accounts”) maintained with the Bank shall be subject to these Global Account Terms (the “Account
Terms”) and the Account Application and the Signature List executed by the Customer regarding the Accounts attached hereto (together, the “Account Applications”), and, by continuing to use the Accounts, the Customer
acknowledges its acceptance of these Account Terms and the relevant Account Applications. 

  

	1.2	Unless otherwise specified, the Customer will establish the Accounts as principal. The Customer shall not transfer any of its rights and interests in the Accounts nor
create any form of security interest over such rights and interests without the prior written consent of the Bank. 

  

	1.3	The Customer represents and warrants that it has power and capacity to open and operate the Accounts, that the Account Terms and the relevant Account Applications
constitute valid and binding obligations of the Customer and that the Customer has taken all necessary actions to duly authorize the execution and delivery of the same. 

 SIGNATORIES 
  

	2.1	“Signatory” means a person named in the relevant Account Application (or other analogous document under which the Customer authorises persons to
communicate with the Bank in relation to the Accounts) who is authorised to act on behalf of the Customer at the time of the relevant Instruction (as defined in Clause 4.1 below) and in respect of the matters set out in Clause 3 below.

  

	2.2	The Bank may treat any Signatory as duly authorised to issue Instructions until the Bank receives written notice from the Customer that the Signatory no longer has the
authority to issue Instructions and the Bank has had an opportunity to act on such notice, which the Bank undertakes to do promptly. 

  

	2.3	The Customer will provide specimen signatures (including specimens of facsimile signatures and/or personal seals) to the Bank (in the Account Application or otherwise)
in the number and form required and will verify the identity of each Signatory in a manner required by the Bank. 

 AUTHORITY OF SIGNATORIES 

 

	3.1	Each Signatory, subject to any written limitation received by the Bank from the Customer, is authorised on behalf of the Customer to: 

 

	 	(a)	open, operate and close the Accounts; 

  

	 	(b)	appoint and remove Signatories; 

  

	 	(c)	execute the Account Application(s) and any form of agreement relating to communications, whether by telephone, electronic or other means; 

 

	 	(d)	execute any agreements relating to overdrafts, borrowings or cash management; 

 

	 	(e)	overdraw the Accounts as may be permitted by the Bank; 

  

	 	(f)	make arrangements with the Bank concerning periodic payments into or out of the Accounts; 

 

	 	(g)	advise the Bank of credits destined for the Customer’s Accounts; 

  

	 	(h)	place money on interest-bearing or term deposit with the Bank and withdraw that money and accrued interest either on or before any applicable maturity date;

  

	 	(i)	authorize and request the Bank to effect foreign exchange transactions for the account of the Customer; 

 

	 	(j)	deposit Chinese Renminbi-denominated currency of the Customer with the Bank for safe keeping, have access to and reclaim such currency so deposited or give the Bank
Instructions in relation to it; 

  

	 	(k)	execute guarantees, indemnities or other undertakings to the Bank in relation to: 

 

	 	(i)	missing documents; 

  

	 	(ii)	undertakings given or to be given by the Bank to or at the request of the Customer; or 

 

	 	(iii)	anything else done or to be done by the Bank at the request of the Customer; 

 

	 	(l)	give the Bank any form of security over, or make any other arrangements with the Bank concerning the Chinese Renminbi-denominated currency held in the Accounts;

  

	 	(m)	countermand, revoke or amend Instructions; and 

  

	 	(n)	give the Bank Instructions relating to any of the above. 

 INSTRUCTIONS 
  

	4.1	“Instruction” means a communication, including without limitation a cheque or demand for payment, which (i) contains the information required by
the Bank to enable the Bank to give effect to the communication; (ii) is received by the Bank in writing, by facsimile, SWIFT, or via the Bank’s electronic instruction system or such other means as are for the time being agreed by the
Customer and the Bank; and (iii) the Bank believes in good faith to have been given by the Customer. 

  

	4.2	The Customer is responsible for issuing Instructions in a manner so as to prevent unauthorised completion, alterations or additions. 

 

	4.3	If the Bank and the Customer at any time agree on a security procedure to be used in relation to any category of communications (including encryption), the Customer
shall safeguard any test keys, passwords, identification codes or other security or authentication devices, make them available only to properly authorised persons and be fully responsible for any use of such security procedure (whether authorised
or unauthorised) 

  
 2 

	4.4	Nothing in this Clause 4 obligates the Bank to confirm Instructions which appear to the Bank acting in good faith to have been given by a Signatory.

 AUTHORITY AND OBLIGATIONS OF THE BANK 

 

	5.1	The Bank is authorised and agrees to accept, honour and execute without inquiry each Instruction which the Bank believes in good faith to have been given by a Signatory
and any other Instruction communicated by other means which the Bank receives in strict accordance with any agreed security procedure. Provided the Bank believes in good faith that an Instruction has been given by a Signatory, where such an
Instruction has been effected by means of a facsimile signature, personal seal or chop, the Bank is authorised to act on such Instruction, regardless of by whom the facsimile signature, personal seal or chop was actually affixed. The Bank need not
inquire into the circumstances of any transaction. 

  

	5.2	The Bank may at its option use any means to confirm or clarify Instructions, even if any agreed security procedure appears to have been followed. If the Bank is not
satisfied with any confirmation or clarification, it may decline to honour the Instruction. 

  

	5.3	The Bank has established cut-off times for some categories of communications, details of which are attached hereto as Addendum A. If an Instruction is received by the
Bank after its cut-off times, the Bank may process the Instruction on the next day on which it is open for such business. The Bank may process any Instruction through any of the payment systems identified in Addendum A. 

 

	5.4	Execution of Instructions will be subject to applicable law and the rules of the payment system used, including those laws or rules concerning a misdescribed or missing
beneficiary, beneficiary’s bank or intermediary bank. The Bank may rely on the identifying number of any account, intermediary or beneficiary’s bank which appears in an Instruction as the proper identification of the beneficiary,
intermediary or beneficiary’s bank notwithstanding that the Instruction identifies an entity different from the entity identified by name in the Instruction. The Bank may complete or correct incomplete or inaccurate intermediary or beneficiary
bank details. 

  

	5.5	Due to the operations of the Trust, redemptions of shares of the Trust could result in an Instruction that would require a withdrawal from the Non-Interest Account in
excess of the balance in such account. The Bank shall honour such an Instruction without assessing an overdraft fee. The Bank may charge customary interest, fees and other expenses for all other overdrafts of the Non-Interest Account or the Interest
Account. 

  

	5.6	Where execution of an Instruction requires the Bank to purchase or sell a currency other than the currency of the Account on which the Instruction is given, the Bank is
authorised to purchase or sell the currency at a commercially reasonable rate at the relevant time for the purchase or sale of such currency taking into account the size and tenor of the transaction. 

  
 3 

	5.7	If the Customer chooses to confirm any Instruction, any confirmation must be clearly marked as such and, if there is any discrepancy between an Instruction and any
confirmation, the terms of the Instruction shall prevail. 

 DEPOSITS, AVAILABILITY OF FUNDS 

 

	6.1	The Customer undertakes that it will have good title to all items presented to the Bank for deposit or for any other purpose. Money deposited or paid into an Account
will not be regarded as available until collected and irrevocably received in cleared funds. 

  

	6.2	As collecting bank, the Bank as agent for the Customer shall process the transactions contemplated under this Agreement in accordance with the custom and market
practice, when applicable. 

  

	6.3	If the Bank credits an Account in contemplation of receiving funds for the Customer’s credit and those funds are not actually received by the Bank, or on the faith
of a transaction which is subsequently set aside or revoked, or if the Bank does not receive funds for the Customer’s credit for value on the date advised by or on behalf of the Customer, the Bank shall be entitled to debit the Account of the
Customer with the amount previously credited and/or with any other charges incurred. If the Account becomes overdrawn or further overdrawn as a result of such debit, the Customer will pay on demand the overdrawn amount and interest on the overdrawn
amount. 

  

	6.4	Bank shall not accept, and shall return without interest to the remitter of funds, the amounts received for deposit to the Interest Account on any Bank business day, if
(a) the aggregate deposit liability of the Bank to the Trust for the Accounts following the deposit of such amounts would exceed 3,250,000,000 Chinese Yuan or (b) the amount of Chinese Renminbi deposited for creation of baskets of shares
of the Trust on such Bank business day exceeds 650,000,000 Chinese Yuan. The Bank shall promptly notify the Customer and the sponsor of the Trust as the deposit amounts approach the limits set forth in the preceding sentence. The foregoing
limitations shall be subject to periodic review by the Bank and the sponsor, and the Bank may, in its sole discretion, increase such limitations, any increase to be effective upon no less than two business days’ prior written notice to the
Customer. For purposes of the preceding sentence, “business day” shall mean any day other than (i) a Saturday or Sunday or (ii) a day on which the New York Stock Exchange is not open for regular trading at noon, New York time.

  

	6.5	The Bank shall notify the Customer if there are circumstances causing the Bank to reasonably expect that it will be unable to accept Instructions for the withdrawal of
money held in the Accounts as soon as practicable . Upon such notification, the Customer shall suspend generally or refuse orders to redeem shares of the Trust. In such case, the Customer and the Bank shall consult with each other and use good faith
efforts to resume withdrawals as soon as possible. 

  
 4 

	6.6	Each day that orders are placed with and accepted by the Trust for the purchase or redemption of shares in the Trust, the Customer shall notify the Bank of the
anticipated amounts of Chinese Renminbi that will be deposited to, or withdrawn from, the Interest Account on the settlement date for those orders and, for any other deposit or withdrawal transaction involving the Accounts, the Customer shall notify
the Bank of the anticipated amounts of Chinese Renminbi that will be deposited to, or withdrawn from, the Accounts for such other transaction. The Customer shall deliver proper Instructions to the Bank to direct Bank’s actions with respect to
the foregoing. 

  

	6.7	The Customer may place an order with the Bank for the conversion of an amount of Chinese Renminbi held in the Accounts into another currency for which the Bank provides
currency exchange contracts or facilities. The Bank (which may act through an affiliate or a member of its local bank or dealer network) may, but is not obligate to, enter into spot or forward foreign exchange contracts with the Customer for such
currency conversion trades. The Bank may establish rules or limitations concerning any foreign exchange contracts or facilities made available. In all cases where the Bank or its affiliates or local dealers enter into a master foreign exchange
contract that covers foreign exchange transactions for the Accounts, the terms and conditions of that foreign exchange contract and, to the extent not inconsistent, this Agreement, will apply to such transactions. 

 

	6.8	When requested by the sponsor of the Trust, the Bank shall make a representative of the Bank available to the sponsor of the Trust to advise on matters concerning the
conversion or sale of Chinese Renminbi held in the Accounts. 

 INTEREST 

 

	7.1	Interest will accrue daily, in Chinese Renminbi, on all Chinese Renminbi balances in the Interest Account only and will be credited monthly by the Bank, in Chinese
Renminbi, to the Non-Interest Account. No interest will be earned on balances in the Non-Interest Account. The Bank will endeavour at all times to pay a competitive interest rate on all Chinese Renminbi balances in the Interest Account. As of the
date of this Agreement, the Bank has agreed to pay interest at an annual nominal rate equal to 10 basis points. The Bank may change the rate based upon changes in market conditions or the Bank’s liquidity needs. The Bank will notify the
Customer of the interest rate applied on each Bank business day after the close of the Bank business day. The Bank will endeavour to provide to the Customer advance notice whenever the Bank intends to change the interest rate on the Interest
Account, except where there are unforeseen changes in conditions or significant changes in the Trust’s balances in the Interest Account. If the Bank at any time pays an interest rate on the Interest Account that the Customer believes
inconsistent with the terms of this Agreement, the Customer’s sole recourse will be to withdraw the Chinese Renminbi balance from the Accounts, terminate this Agreement and close the Accounts. 

ACCOUNT INFORMATION 
  

	8.1	 On each Business Day by 9:00 New York time, the Bank will provide the Customer with a statement of the transactions in the Accounts occurring on the
prior Business Day and the prior day’s ending balance. In addition, the Bank will issue, on a periodic basis, such other balance and transactions reports for the Accounts as may be agreed between the Bank and the Customer, which shall include
records of all deposits and withdrawals concerning the 

  
 5 

	 	
Accounts and all credit of interest to the Non-Interest Account. All statements and reports referenced in this Section 8.1 shall be made available to the Customer by the Bank via our
JPMorganAccess (VPR) on-line reporting tool. Further, all end-of-business day balances in the Accounts are stated as of the close of the Bank’s banking day (usually 4:00pm, London time). 

 

	8.2	The Customer will ensure that the statements, confirmations and advices it receives from the Bank are examined by a responsible person on behalf of the Customer within
a reasonable time of receipt and, thereupon, Customer shall promptly notify the Bank of any mistake or discrepancy of which the Customer becomes aware from such statements, confirmations and advices. The Bank will correct any mistake or discrepancy
upon identification thereof. The Bank shall not be responsible for the Customer’s reliance on balance, transaction or related information which is subsequently updated or corrected or for the accuracy or timeliness of information supplied by
any third party to the Bank. 

  

	8.3	The Bank agrees to give access to the Customer and any of its independently appointed auditors to review the books and records of the Accounts upon reasonable prior
notice to the Bank. Neither the Customer nor its auditors shall be entitled to take away such books and records or any copies of thereof (whether in written or electronic format) without the prior written consent of the Bank which consent shall not
be unreasonably withheld. The duty of the Bank under this Clause 8.3 to provide the information under this Clause shall, with respect to the time and scope of access, always be at the Bank’s reasonable discretion and subject to all applicable
laws and regulations, and any duties of confidentiality of the Bank. 

 OTHER DOCUMENTATION 

 

	9.1.	These Account Terms and the Account Applications replace any existing agreements relating to the subject matter hereof or thereof, with effect from the date the Bank
receives the relevant Account Application or analogous document in form and substance satisfactory to the Bank. 

  

	9.2	These Account Terms are in addition to any future agreement between the Bank and the Customer (including without limitation any agreement relating to the provision of
electronic banking services, specific payment or cheque services or custody services), and, if there is an inconsistency between these Account Terms and any such other agreement, any such other agreement will prevail for the purposes of the
particular account or service which is the subject of such other agreement. If there is an inconsistency between these Account Terms and any terms of the relevant Account Application(s), the terms of the Account Application(s) shall prevail for the
purposes of the Account(s) which are subject to such Account Application(s). 

  
 6 

 REVERSALS 
  

	10.1	Unless otherwise expressly provided, all Instructions shall continue in full force and effect until cancelled or superseded. Instructions may be reversed, amended,
cancelled or revoked by the Customer only with the consent of the Bank. That consent shall not be withheld unless the Bank reasonably determines that it would not be possible to give effect to any reversal, amendment, cancellation or revocation, or
the Bank has entered into other transactions or otherwise materially changed its position as a result of receiving such Instructions. 

  

	10.2	The Customer may stop payment of a cheque at any time provided the Bank branch on which the cheque is drawn receives an Instruction to that effect from the Customer
prior to the Bank honouring or arranging to honour the cheque concerned. 

  

	10.3	If the Bank erroneously posts or fails to post an entry to an Account, the Bank may reverse or make a correcting entry and the provisions of Clause 6.3 shall apply to
any resulting overdraft. 

 FEES AND CHARGES 

 

	11.1	The Bank may, at its option, invoice the Customer or debit the Accounts for services or for handling telecommunications or messages dispatched at the Customer’s
request, and other out of pocket costs incurred by it for the Customer’s account in accordance with its fee arrangements in place from time to time. The Bank shall provide Customer with a copy of the current fees. All payments to be made to the
Bank shall be in full, without set-off or counterclaim and free of any deductions or withholdings on account of any tax or otherwise. The Bank will forward to the Customer a statement in respect of each Account detailing all interest (if applicable)
and fees charged to that Account. 

  

	11.2	The Customer agrees to pay or reimburse the Bank for any taxes, levies, imposts, deductions, charges, stamp, transaction and other duties and withholdings (together
with any related interest, penalties, fines, and expenses in connection with them) incurred in connection with the Accounts (including payments or receipts to the Accounts) except if imposed on the overall net income of the Bank.

 REPAYMENT OF OVERDRAFTS 
  

	12.1	In the event that there is an overdraft of the Non-Interest Account (as provided for in Clause 5.5 above), any monies paid into the Non-Interest Account will first be
used to credit such overdraft. 

  
 7 

 INDEMNITY AND LIABILITY 

 

	13.1	The Customer shall fully indemnify the Bank and its employees, officers and directors and each of the affiliates and subsidiaries of JPMorgan Chase Bank, N.A. on
demand, at all times against any losses, costs, claims, damages, liabilities and expenses (including without limitation reasonable legal fees) which it or they suffer or incur directly or indirectly (i) as a result of the Customer’s breach
of these Account Terms or the Bank acting on what it believed in good faith to be the Customer’s communication or Instruction or (ii) because of anything done under or as contemplated by these Account Terms. This indemnity is in addition
to and not in substitution for any other indemnity or right in favour of the Bank given by law or otherwise and shall not be affected or discharged by anything. 

 

	13.2	(i) Subject to Clause 13.2(ii) below, the Bank shall be liable only for direct loss or damage which the Customer suffers or incurs arising from the Bank’s gross
negligence or willful misconduct and shall not be liable for any other loss or damage of any nature. 

 (ii) The
Bank shall not in any event be liable for loss of business or profits or goodwill or any indirect or consequential or punitive or special loss or damage, in each case whether or not reasonably foreseeable, even if the Bank has been advised of the
likelihood of such loss or damage and whether arising from negligence, breach of contract or otherwise. 
 (iii) The provisions
of Clause 13.2(i) and (ii) above shall not apply to the extent that the loss or damage is caused by fraud on the part of the Bank. 
  

	13.3	The Bank of New York Mellon enters into this Agreement only in its capacity as trustee of the Trust (the “Trustee”) and in no other capacity, and in no
circumstances shall The Bank of New York Mellon have any liability under or in connection with this Agreement other than as the Trustee. Any liability of the Trustee arising under or in connection with this Agreement is limited to, and can be
enforced against the Trustee only to the extent to which such liability can be satisfied out of, the assets of the Trust which are available under the terms of the trust agreement governing the Trust to meet such liability at the time the amount in
respect of such liability is claimed against the Trustee. This limitation on the Trustee’s liability applies despite any other provision of this Agreement and extends to all liabilities and obligations of the Trustee in any way connected with
any representation, warranty, conduct, omission, agreement or transaction related to this Agreement or the Accounts, except that the Trustee will be held liable individually for its fraud in connection with these Account Terms.

 GOVERNING LAW AND JURISDICTION 
  

	14.1	These Account Terms, the relevant Account Application and the rights and obligations of the Customer and the Bank in respect of the Accounts shall be governed by,
performed and construed in accordance with the laws of England. 

  
 8 

	14.2	If any of these Account Terms is unenforceable or illegal in any jurisdiction that will not affect the rest of the Account Terms in that jurisdiction, or any of the
Account Terms in any other jurisdiction. 

  

	14.3	In relation to the Accounts, the courts of England shall have non-exclusive jurisdiction to settle any disputes which arise out of or are connected with these Account
Terms, the relevant Account Application and/or the relevant Account. This clause does not prevent the Bank or Customer from initiating legal proceedings in the United States. 

 RECORDING 
  

	15.1	Each of the Bank and the Customer may record telephone conversations with the other. Upon the request and reimbursement of the cost, the party recording a telephone
conversation will supply a copy or transcript of any such recording to the other party. The recording or transcript may be used in resolving any dispute between the Bank and the Customer. Recordings and any transcript shall be the property of the
party making the recording. 

  

	15.2	The Bank may microfilm or electronically record any document and, subject to any law affecting the relevant Account, may destroy the original of such documents. Subject
to the provisions of applicable law, the Bank and the Customer shall be entitled to rely on any such stored document in any legal proceeding or for any other purpose. 

 DISCLOSURE 
  

	16.1	The Customer authorises the Bank to retain an affiliated company and/or any other agents to perform data processing, collection and other services which the Bank
considers necessary or desirable for the Bank. The Bank reserves the right to modify or terminate its arrangements with its agents at any time. 

  

	16.2	The Customer agrees that Instructions and information concerning the Accounts, the Customer and transactions to be disclosed in accordance with this clause 16 may be
transmitted across national boundaries and through networks including those owned and operated by third parties. 

  

	16.3	The Customer authorises the Bank to disclose information concerning the Accounts, transactions concerning the Accounts or the Customer where, (i) in the
Bank’s view, the disclosure is necessary or desirable for the purpose of allowing the Bank to perform its duties and exercise its powers and rights hereunder; (ii) the disclosure is to a proposed assignee of the rights of the Bank in
respect of the Accounts; (iii) the disclosure is to a branch, affiliate, subsidiary, employee or agent of JPMorgan Chase & Co. or to its auditors or legal advisers; (iv) the disclosure is to the auditors of the Customer or the
Trust; or (v) as may be otherwise required by law, irrespective of whether the disclosure is made in the jurisdiction in which the Customer is resident, the Accounts are kept, the transactions conducted or elsewhere. 

  
 9 

 FORCE MAJEURE 
  

	17.1	The Bank shall have no liability for any damage, loss, expense or liability of any nature which the Customer may suffer or incur, to the extent caused by an act of God,
fire, flood, civil or labour disturbance, war or terrorism, act of any governmental authority or other act or threat of any authority (de jure or de facto), legal constraint (including attachments or other legal process), fraud or forgery (other
than on the part of the Bank or any of its directors, officers or employees), malfunction of equipment (including, without limitation, any computer or related software) except where such malfunction is primarily attributable to the Bank’s gross
negligence in maintaining the equipment or software, failure of or the effect of rules or operations of any funds transfer system, inability to obtain or interruption of communications facilities, or any cause beyond the reasonable control of the
Bank (including, without limitation, the non-availability of appropriate foreign exchange). 

  

	17.2	Any amount standing to the credit of an Account with the Bank is payable exclusively at the branch at which the Account is held; however, payment may be suspended from
time to time in order to comply with any law, regulation, governmental decree or similar order for the time being affecting the Bank, its officers, employees, affiliates, agents or correspondents. 

NOTICES 
  

	18.1	Any communication, including Instructions, shall be in writing unless otherwise agreed and may be sent by personal delivery, facsimile, SWIFT or post, addressed, in the
case of communications from the Customer to the Bank, to the address designated to Customer by the Bank, and, in the case of communications from the Bank to the Customer, to the address notified by the Customer to the Bank from time to time. Any
communication will only be effective when actually received. 

  

	18.2	Any notices to be sent to the sponsor of the Trust by the Bank under this Agreement shall be sent to: 

Rydex Specialized Products LLC 
 c/o Rydex Investments 
 805 King Farm Boulevard, Suite 600 

Rockville, Maryland 20850 
 Attention: Kevin Farragher 
 Facsimile: 301-296-5112 

 

	18.3	Any notices to be sent to the Customer by the Bank under this Agreement shall be sent to: 

The Bank of New York Mellon 
 2 Hanson Place, 9th Floor 
 ETF Services 

Brooklyn, NY 11217 
 Attention: : Cheryl Cohen 
 Facsimile: 718-315-4850 

  
 10 

	18.4	Any communication to be sent to the Bank by the Customer under this Agreement shall be sent to: 

For Instructions: 

JPMorgan Chase Bank, N.A. 
 10410 Highland Manor Drive Floor 04, 
 Mailcode FL3-3436, Tampa, FL 33610-9128

 Attention: Wing-Shan Kwok 
 Facsimile: 1-877-537-1236 
 SWIFT BIC: HSBCHKHH 

For all other communication: 
 JPMorgan Chase Bank, N.A. 
 1 Chase Manhattan Plaza, 19th Floor 

New York, NY 10005 
 Attention: Mei Po Wong 
 Facsimile: 212 552 0551 

CLOSURE/TERMINATION 
  

	19.1	The Bank has the right to close the Accounts at any time by not less than one-hundred and fifty (150) days’ notice in writing addressed to the Customer at its
most recent address as advised by the Customer to the Bank. Before or on the expiry period of such notice, the Bank will transfer any balance in the Accounts in accordance with the Customer’s Instructions. In the absence of such Instructions,
the Bank may transfer the balance to an unclaimed moneys account. On the expiry of such notice period, the Bank’s obligations in respect of the Accounts shall cease. However, any such closure or termination shall not affect the Customer’s
liabilities to the Bank or the Bank’s liabilities to the Customer arising prior to or after such termination or closure, all of which shall continue in full force and effect. In the event of the termination of the trust agreement governing the
Trust, the Customer will provide written notice of the date of such termination to the Bank and the Bank thereafter will not accept any deposits of Renminbi for creation of baskets of shares of the Trust. 

MISCELLANEOUS 
  

	20.1	 The expressions “Bank” and “Customer” when used herein shall include any successor of the Bank or the Customer, as applicable, and
“successor” means an assignee or successor of JPMorgan Chase Bank, N.A., or of The Bank of New York Mellon, in its capacity as trustee of CurrencyShares® Chinese Renminbi Trust, as applicable, or any person who, under the laws of its jurisdiction of incorporation or domicile, has assumed the rights and obligations of
JPMorgan Chase Bank, N.A., or The Bank of New York Mellon, in its capacity as trustee of the CurrencyShares®
Chinese Renminbi Trust, as applicable, hereunder or to which under such laws the same have been transferred. 

  
 11 

	20.2	If these terms are translated into, or appear in a language other than English, the English language version shall govern and control. 

 

	20.3	Headings are for convenience only and shall not affect the interpretation of this document. 

 

	20.4	The Customer acknowledges that deposits held in a branch of the Bank located outside of the U.S. are not insured by the Federal Deposit Insurance Corporation, are
subject to cross-border risks and may enjoy a lesser preference, as compared to deposits held in the U.S., in the event the Bank should be liquidated, insolvent or placed into receivership or other proceeding for the benefit of creditors.

  

	20.5	These Account Terms may be enforced only by the Bank or the Customer or such party’s successors and permitted assigns. Notwithstanding the foregoing, but subject
to the prior written consent of the Bank, each employee, officer and director of the Bank and each of the affiliates and subsidiaries of JPMorgan Chase Bank, N.A. may enforce the terms of Clause 13. The Bank and the Customer may at any time, by
written agreement, rescind these Account Terms or vary them without the consent of such employees, officers, directors or the affiliates and subsidiaries of JPMorgan Chase Bank, N.A. 

 

	20.6	(i) The Bank will collect information about the Customer and the Customer’s employees and agents which may constitute personal data for the purposes of the Data
Protection Act 1998 (the “Act”) and other relevant data protection legislation (such as, without limitation, authorised signatory details). Such personal data may be collected by or on behalf of the Bank in a number of ways (the
“Collection Methods”), including via Account Applications or other analogous documents, via applications or documentation relating to the provision to or use by the Customer of electronic banking services, or specific payment or
cheque services, via the Customer’s use of such electronic banking services, or specific payment or cheque services, and via other correspondence or communications between the Customer and the Bank. 

(ii) The Bank will use personal data collected by it or on its behalf via the Collection Methods for the following purposes (the
“Purposes”): namely, for the purpose of providing the services to the Customer in accordance with these Account Terms and the Account Applications, for otherwise administering the Account(s), for providing the Customer with services
such as electronic banking services, or specific payment or cheque services, for the Bank’s internal administrative purposes, for contacting the Customer about products and services which the Bank or other members of the Bank’s group offer
which the Bank believes may be of interest to the Customer, and as may be otherwise required by law or applicable regulatory or governmental authorities, and such purposes may include transfer of such personal data outside of the United Kingdom to
the Bank’s subsidiaries or other connected companies or to other organisations as may be required by law or other applicable regulatory or governmental authorities. 

  
 12 

 (iii) The Customer shall ensure that any disclosure of personal data made by it or by its
employees or agents via the Collection Methods which relate to the Customer’s employees or agents is only made following notification by the Customer to data subjects of the Purposes for which their personal data may be processed by or on
behalf of the Bank, and is otherwise fair and lawful. 
 PAYMENT SERVICES REGULATIONS 2009 

Regulatory framework and corporate classification 
  

	21.1.	Information about U.K. Deposit Protection Compensation Arrangements 

 The Bank is a participant in the U.K. Financial Services Compensation Scheme (Scheme). The Scheme can pay compensation to depositors if a bank is unable to meet its financial obligations. The Scheme is
only available to certain types of claimants (referred to as eligible depositors). In respect of deposits, an eligible depositor is entitled to claim up to a maximum of £85,000. The £85,000 limit relates to the combined amount in all the
eligible depositor’s accounts with the bank. 
 Customer hereby (i) acknowledges that Bank has made Customer aware of
the Scheme and (ii) agrees to immediately inform the Bank if Customer qualifies as eligible under the Scheme so that the Bank can record Customer’s eligibility in the Bank’s systems. Customer acknowledges that its failure to so notify
the Bank may result in Customer’s failing to receive its entitled compensation payout within the seven calendar days as set out by the Scheme. 
 Verification of FSCS eligibility criteria and further details of the Scheme can be found at: http://fsahandbook.info/FSA/html/handbook/COMP. 

 

	21.2.	The Bank may with respect to the Accounts and services provided under this Agreement be acting as a payment service provider as defined in the Payment Services
Regulations 2009 (as amended from time to time, the “Regulations”). Unless otherwise defined herein, terms defined in the Regulations shall have the same meaning when used in this Clause 21. 

 

	21.3.	The Customer represents and warrants to the Bank that at the time it becomes bound by this Agreement or if later these supplemental provisions or any other relevant
service terms it is not a consumer, micro-enterprise or charity as defined in, and used for the purposes of, the Regulations, and the Customer undertakes to notify the Bank promptly if at any time it becomes such a consumer, micro-enterprise or
charity. Broadly, for these purposes, a micro-enterprise is an autonomous enterprise that employs fewer than ten people and whose annual turnover and/or balance sheet total does not exceed €2 million (or its Sterling equivalent), a
consumer is an individual acting for purposes other than a trade, business or profession, and a charity includes only those whose annual income is less than £1 million. 

  
 13 

	21.4.	On this basis and in accordance with regulations 33(4) and 51(3) of the Regulations (which provide that the Bank and the Customer may agree that certain provisions of
the Regulations shall not apply), the Customer agrees that all the provisions of the Regulations that the Bank and the Customer may lawfully agree do not apply shall not apply with respect to the Accounts and services provided under this Agreement.

 Authorisation of payment transactions 

 

	21.5.	A funds transfer will be deemed to have been authorised by the Customer if the relevant Instruction has been given (i) in accordance with this Agreement and any
applicable security procedures or (ii) pursuant to any specific arrangements agreed with the Customer and governed by separate service terms. These specific arrangements may include sweeping and other cash and liquidity management services
offered by the Bank to the Customer where Instructions to effect funds transfers into or from the Account are generated automatically by the Bank or any affiliate or subsidiary of the Bank or given by a group company connected with the Customer or
by a third party bank. The Bank may treat an instruction generated or given through the Customer’s use of the Services as if it was an Instruction given by an Authorized Person under this Agreement and the resulting funds transfers as
authorised accordingly. 

  

	21.6.	The Bank reserves the right to stop the use of any means or method of the Customer or an Authorized Person giving or issuing any funds transfer Instructions (a
“payment instrument”) on reasonable grounds related to the security of the payment instrument or the suspicion of unauthorised or fraudulent use of the payment instrument. 

 

	21.7.	Before stopping the use of any payment instrument, the Bank will inform the Customer that it intends to stop such use and give its reasons for doing so, unless it is
not reasonably practicable to do so, in which case the Bank will inform the Customer immediately afterwards. In either case, the Bank will inform the Customer in the manner in which the Bank considers most appropriate in the circumstances and will
not be obliged to inform the Customer where doing so would compromise reasonable security measures of the Bank or otherwise be unlawful. The Customer may request that the use of the payment instrument is no longer stopped by following the
notification procedure referred to in the paragraph below, but the Bank will not be obliged to accede to the Customer’s request until after the reasons for stopping its use cease to exist. 

 

	21.8.	The Customer undertakes to use any payment instrument issued to it by the Bank in accordance with the terms and instructions governing its use and shall promptly,
without undue delay, notify the Bank of the loss, theft, misappropriation or unauthorised use of the payment instrument by following the specific notification procedure designated from time to time by the Bank. 

  
 14 

	21.9.	The Bank reserves the right to refuse any authorised funds transfer Instruction which does not satisfy all the relevant conditions as set out in the Agreement or the
execution of which would be unlawful or otherwise contravene any applicable law or regulations, and the Bank shall not be liable to the Customer for any such refusal. Unless such notification would be unlawful, the Bank will notify the Customer in
the manner in which the Bank considers most appropriate in the circumstances of the fact of refusal, (if possible) the reasons for the refusal and (where it is possible to provide reasons for the refusal and those reasons relate to factual matters)
the procedure the Customer may use to rectify any factual errors that led to the refusal. 

 Execution of
payment transactions 
  

	21.10.	Where agreed with the Customer, the Bank may deduct its charges from amounts received before crediting them to the Customer’s Account. 

 

	21.11.	With respect to the execution time requirements applicable under the Regulations: (a) the Customer acknowledges that the applicable business day, cut-off time and
point in time of receipt with respect to any particular payment order and funds transfer (including any deposit of cash in the Account) shall be determined in accordance with the terms of this Agreement or, if not addressed herein, in accordance
with the Bank’s usual procedures; (b) the Customer confirms its agreement that execution of the relevant payment order is to take place on a specific day, the last day of a certain period or the day on which the Customer has put funds at
the Bank’s disposal may be inferred from the Instruction, any information provided with it and any other relevant circumstances; and (c) the Customer agrees that the Bank may when executing a funds transfer avail itself where applicable of
the longer maximum execution periods (of up to the end of the third business day or, in the case of a funds transfer initiated by way of a paper payment order, the fourth business day following the point in time of receipt of the relevant funds
transfer Instruction) permitted under the Regulations during the transitional period until 1st January 2012. 

  

	21.12.	Where the Customer deposits cash on its Account in the same currency as the denomination of its Account through an agency bank arrangement, the Bank will make available
an amount corresponding to the cash deposit and credit and value date that amount no later than the business day on which it receives corresponding, cleared funds from the agent bank. 

Liability 
  

	21.13.	Subject to Clause 8.2 hereof, the Bank shall not be liable to the Customer with respect to an unauthorised or incorrectly executed funds transfer or a non-executed or
defective funds transfer unless the Customer has notified the Bank thereof in accordance with the Agreement without undue delay, and in any event no later than three (3) months of the relevant debit date; this provision shall not operate to
exclude or restrict any longer period as may be set by the rules of any relevant payment system for notifying a claim with respect to such funds transfers. 

 

	21.14.	In the event an unauthorised funds transfer is made from the Account the Bank shall only be liable to refund the amount of the unauthorised funds transfer and, where
applicable, to restore the Customer’s Account to the state it would have been in had the unauthorised funds transfer not taken place. 

  
 15 

	21.15.	The Bank shall not be liable for any damage, loss, expense or liability of any nature which the Customer may suffer or incur where the Bank executes a funds transfer
Instruction in accordance with the identifying number of the beneficiary, the beneficiary’s bank or any intermediary bank included in the funds transfer or with any other unique identifier specified by the Bank to the Customer, given by the
Customer in that Instruction. 

  

	21.16.	In addition to any force majeure or other similar provision in the Agreement or Service Terms, neither the Bank nor the Customer shall be liable for any loss or damage
to the other for any contravention of any requirement imposed on it by or under the Regulations or for any breach of any corresponding or derivative contractual obligation where (i) such contravention or breach is due to abnormal and unusual
circumstances beyond the relevant party’s control, the consequences of which would have been unavoidable despite all efforts to the contrary; or (ii) such contravention or breach is due to its obligations under applicable law and
regulations. 

 Conflicts. 
  

	21.17.	In the event of conflict between this Clause 21 and any other provisions of this Agreement, the terms of this Clause 21 shall prevail. 

[Signatures on following page] 

  
 16 

 IN WITNESS WHEREOF, this Agreement has been duly executed as of
[    ], 2011. 
  

			
	THE BANK OF NEW YORK MELLON, in its capacity as Trustee of the CurrencyShares® Chinese Renminbi Trust and not in its individual capacity
		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	JPMORGAN CHASE BANK, N.A., LONDON BRANCH
		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 

  
 17

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