Bond Québec Province 0.02875% ( US748149AH49 ) in USD

Issuer Québec Province
Market price 100 %  ▲ 
Country  Canada
ISIN code  US748149AH49 ( in USD )
Interest rate 0.02875% per year ( payment 2 times a year)
Maturity 16/10/2024 - Bond has expired



Prospectus brochure of the bond Province Of Quebec US748149AH49 in USD 0.02875%, expired


Minimal amount 5 000 USD
Total amount 1 600 000 000 USD
Cusip 748149AH4
Detailed description Quebec is a predominantly French-speaking province in eastern Canada, known for its unique culture, history, and stunning landscapes, including the Appalachian Mountains and the St. Lawrence River.

The Bond issued by Québec Province ( Canada ) , in USD, with the ISIN code US748149AH49, pays a coupon of 0.02875% per year.
The coupons are paid 2 times per year and the Bond maturity is 16/10/2024







Filed pursuant to Rule 424(b)5
Registration Statement No. 333-185372
PROSPECTUS SUPPLEMENT
(To Prospectus Dated December 18, 2012)
U.S.$1,600,000,000


2.875% Global Notes Series QO due October 16, 2024

We will pay interest on the Notes semi-annually in arrears on April 16 and October 16 of each year, commencing April 16,
2015. The Notes will mature on October 16, 2014. We may not redeem the Notes prior to maturity unless certain events occur
involving Canadian taxation. See "Description of Notes--Maturity, Redemption and Purchases".
We will make all payments of principal of and interest on the Notes in U.S. dollars. We will make all such payments
without deduction for, or on account of, taxes imposed or levied by or within Canada, subject to the exceptions described in this
prospectus supplement.
Application will be made for the Notes offered by this Prospectus Supplement to be admitted to the Official List of the
Luxembourg Stock Exchange and for such Notes to be admitted to trading on the Euro MTF Market of the Luxembourg Stock
Exchange. The Euro MTF Market of the Luxembourg Stock Exchange is not a regulated market for purposes of the Markets in
Financial Instruments Directive (Directive 2004/39/EC). Unless the context otherwise requires, references in this Prospectus
Supplement to the Notes being "listed" shall mean that the Notes have been admitted to trading on the Euro MTF Market and have
been admitted to the Official List of the Luxembourg Stock Exchange. We have undertaken to the underwriters to use all reasonable
efforts to have the Notes listed on the Euro MTF Market of the Luxembourg Stock Exchange on or as soon as possible after the
closing of the issue. We cannot guarantee that these applications will be approved, and settlement of the Notes is not conditioned on
obtaining the listing.




Per Note
Total
Price to public(1)
99.192%
U.S.$1,587,072,000
Underwriting discounts and commissions

0.250%
U.S.$
4,000,000
Proceeds, before expenses, to Québec(1)
98.942% U.S.$1,583,072,000


(1)
Plus accrued interest from October 16, 2014, if settlement occurs after that date.
Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these
securities or determined if this prospectus supplement or the prospectus is truthful or complete. Any representation to the contrary is a
criminal offense.
Delivery of the Notes, in book-entry form, will be made through The Depository Trust Company ("DTC"), Clearstream
Banking, société anonyme ("Clearstream, Luxembourg") and Euroclear Bank S.A./N.V. ("Euroclear") on or about October 16, 2014.


BofA Merrill Lynch

HSBC

National Bank Financial

TD Securities

The date of this prospectus supplement is October 8, 2014.


TABLE OF CONTENTS
Prospectus Supplement
Page

NOTICE REGARDING OFFERS IN THE EEA

S-3
ABOUT THIS PROSPECTUS SUPPLEMENT

S-4
FORWARD-LOOKING STATEMENTS

S-4
SUMMARY

S-4
RECENT DEVELOPMENTS

S-7
USE OF PROCEEDS

S-8
DESCRIPTION OF NOTES

S-8
TAX MATTERS

S-14
UNDERWRITING

S-19
VALIDITY OF THE NOTES

S-23
OFFICIAL STATEMENTS

S-23
GENERAL INFORMATION

S-24
UNDERWRITERS

S-25
LEGAL ADVISORS

S-26
Prospectus
Page

WHERE YOU CAN FIND MORE INFORMATION

2
FORWARD-LOOKING STATEMENTS

3
QUÉBEC

3
USE OF PROCEEDS

3
DESCRIPTION OF THE SECURITIES

4
JURISDICTION

11
PLAN OF DISTRIBUTION

12
DEBT RECORD

12
AUTHORIZED AGENT

12
VALIDITY OF THE SECURITIES

12
OFFICIAL STATEMENTS

12

You should read this prospectus supplement along with the accompanying prospectus. Both documents contain
information you should consider when making your investment decision. We are responsible only for the information
provided or incorporated by reference in this prospectus supplement and the accompanying prospectus. Québec has not
authorized anyone else to provide you with any different information. Québec is not offering to sell or soliciting offers to buy
any securities other than the Notes offered under this prospectus supplement, nor is Québec offering to sell or soliciting offers
to buy the Notes in places where such offers are not permitted by applicable law. You should not assume that the information
in this prospectus supplement or the accompanying prospectus is accurate as of any date other than the date of this
prospectus supplement.


S-2


Please note that in this prospectus supplement, references to "we", "our" and "us" refer to Québec and all references to the
"European Economic Area", or "EEA", are to the Member States of the European Union together with Iceland, Norway and
Liechtenstein.
NOTICE REGARDING OFFERS IN THE EEA
If and to the extent that this prospectus supplement is communicated in, or the offer of the Notes to which it relates
is made in, any Member State that has implemented the Prospectus Directive (as defined below) (a "Relevant Member
State"), this prospectus supplement and the offer are only addressed to and directed at persons in that Relevant Member
State who are qualified investors within the meaning of the Prospectus Directive (or who are persons to whom the offer may
lawfully be addressed) and must not be acted upon by other persons in that Relevant Member State.
This prospectus supplement has been prepared on the basis that any offer of Notes in any Relevant Member State
will be made pursuant to an exemption under the Prospectus Directive, as implemented in that Relevant Member State, from
the requirement to publish a prospectus for offers of the Notes. Accordingly, any person making or intending to make any
offer in that Relevant Member State of the Notes that are the subject of the offering contemplated in this prospectus
supplement must only do so in circumstances in which no obligation arises for Québec or any of the underwriters to publish a
prospectus pursuant to Article 3 of the Prospectus Directive or supplement a prospectus pursuant to Article 16 of the
Prospectus Directive, in each case, in relation to such offer. Neither Québec nor the underwriters have authorized, nor do they
authorize, the making of any offer of the Notes in circumstances in which an obligation arises for Québec or the underwriters
to publish a prospectus supplement or prospectus for such offer. This prospectus supplement does not constitute or form part
of any offer or invitation to sell the Notes and is not soliciting any offer to buy the Notes in any jurisdiction where such offer
or sale is not permitted.
In this prospectus supplement, the expression "Prospectus Directive" means Directive 2003/71/EC (and
amendments thereto, including the 2010 PD Amending Directive, to the extent implemented in the Relevant Member State)
and includes any relevant implementing measures in the Relevant Member State and the expression "2010 PD Amending
Directive" means Directive 2010/73/EU.
Neither Québec nor any underwriters have authorized, nor do they authorize, the making of any offer of the Notes
through any financial intermediary, other than offers made by the relevant underwriters which constitute the final placement
of the Notes contemplated in this prospectus supplement.
This prospectus supplement is only being distributed to and is only directed at (i) persons who are outside the
United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "Relevant
Persons"). The Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire
such Notes will be engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on
this document or any of its contents.
In connection with the issue of the Notes, TD Securities (USA) LLC (or person or persons acting on its behalf) may
over-allot Notes or effect transactions with a view to supporting the market price of the Notes at a level higher than that which
might otherwise prevail. However, there is no assurance that TD Securities (USA) LLC (or person or persons acting on its
behalf) will undertake stabilization action. Any stabilization action may begin on or after the date on which adequate public
disclosure of the terms of the Notes is made and, if begun, may be ended at any time, but it must end no later than the earlier
of 30 days after the issue date of the Notes and 60 days after the date of the allotment of the Notes. Any stabilization action or
over-allotment will be conducted by TD Securities (USA) LLC (or a person or persons acting on its behalf) in accordance with
all applicable laws and rules.

S-3


ABOUT THIS PROSPECTUS SUPPLEMENT
Québec is furnishing this prospectus supplement and the accompanying prospectus solely for use by prospective investors
in connection with their consideration of a purchase of Notes. Québec confirms that:

·
the information contained in this prospectus supplement is true and correct in all material respects and is not

misleading;


·
it has not omitted other facts the omission of which makes this prospectus supplement as a whole misleading; and

·

it
accepts responsibility for the information it has provided in this prospectus supplement and the prospectus.
In this prospectus supplement, unless otherwise specified or the context otherwise requires, all dollar amounts are expressed in
Canadian dollars. On October 8, 2014 the noon spot exchange rate for U.S. dollars as reported by the Bank of Canada, expressed in
Canadian dollars, was $0.894.
FORWARD-LOOKING STATEMENTS
This prospectus supplement contains forward-looking statements. Statements that are not historical facts, including
statements about Québec's beliefs and expectations, are forward-looking statements. These statements are based on current plans,
estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of
the date they are made, and Québec undertakes no obligation to update publicly any of them in light of new information or future
events. Forward-looking statements involve inherent risks and uncertainties. Québec cautions you that actual results may differ
materially from those contained in any forward-looking statements.
SUMMARY
The information below is qualified in its entirety by the detailed information provided elsewhere in this document.

Issuer
Québec.
Securities Offered
U.S.$1,600,000,000 aggregate principal amount of 2.875% Global Notes
Series QO due October 16, 2024.
Maturity Date
October 16, 2024.
Interest Payment Dates
We will pay you interest in two equal semi-annual installments on April 16
and October 16 of each year, commencing April 16, 2015. Interest will
accrue from October 16, 2014.
Interest Rate
2.875% per year. Whenever it is necessary to compute any amount of
interest in respect of the Notes other than with respect to regular semi-
annual payments, we will calculate such interest on the basis of a 360-day
year consisting of twelve 30-day months.
Redemption
We may not redeem the Notes prior to maturity, unless certain events occur
involving Canadian taxation. See "Description of Notes -- Maturity,
Redemption and Purchases".

S-4


Listing and Admission to Trading
We have undertaken to the underwriters to use all reasonable efforts to have
the Notes admitted to the Official List of the Luxembourg Stock Exchange
and to trading on the Euro MTF Market of the Luxembourg Stock Exchange
as soon as possible after the closing of the issue. We cannot guarantee that
these applications will be approved and settlement of the Notes is not
conditioned on obtaining the listing. The Euro MTF Market is not a
regulated market for purposes of the Markets in Financial Instruments
Directive.
Form and Settlement
We will issue the Notes in the form of one or more fully registered global
notes registered in the name of the nominee of The Depository Trust
Company ("DTC"). The Notes will be recorded in a Register held by , as
Registrar. Beneficial interests in the Notes will be represented through
book-entry accounts of financial institutions acting on behalf of owners of
those beneficial interests as direct and indirect participants in DTC.
Clearstream, Luxembourg and Euroclear will hold interests on behalf of
their participants through their respective U.S. depositaries, which in turn
will hold such interests in accounts as participants in DTC. Except in the
limited circumstances described in this prospectus supplement, owners of
beneficial interests in the Notes will not be entitled to have Notes registered
in their names, will not receive or be entitled to receive physical certificates
representing the Notes and will not be considered holders of Notes under the
Fiscal Agency Agreement. Notes will only be sold in denominations of
U.S.$5,000 and in multiples of U.S.$1,000 in excess thereof. See
"Description of Notes -- Form, Denomination and Registration".
Withholding Tax
Principal of and interest on the Notes are payable by us without withholding
or deduction for Canadian withholding taxes, to the extent permitted under
applicable law, as set forth in this prospectus supplement.
Status of the Notes
The Notes constitute our direct and unconditional obligations for the
payment and performance of which our full faith and credit will be pledged.
The Notes will rank equally among themselves and with all notes,
debentures or other similar debt securities issued by us and outstanding at
the date hereof or in the future.
Events of Default
An event of default will occur if we do not pay the principal of, or interest
or additional amounts on, the Notes or Coupons as and when the same
become due and payable and such default continues for 45 days. An event
of default will also occur if we do not pay any principal of, or premium,
interest or additional amounts on, any of our indebtedness (direct or under a
guarantee) for borrowed money exceeding U.S.$50,000,000 (or its
equivalent in other currencies) in aggregate principal amount, other than the
Notes, as and when the same becomes due and payable and such default
continues for a period of 45 days. An event of default will occur if we do
not duly perform or observe any covenant or agreement contained in the
Notes (other than the payment of principal, premium, interest or additional
amounts) or in the Fiscal Agency Agreement and such default continues for
a period of 60 days.
Negative Pledge
The terms of the Notes will not contain a negative pledge.
Prescription
Under current Québec law, an action to enforce a right to payment under the
Notes may be prescribed if it is not exercised within three years of the date
the payment is due.

S-5


Immunity
We have waived any immunity for service of process on the
Delegate General of Québec in New York and any immunity
from jurisdiction of any court to which we might otherwise be
entitled based upon the Notes. In enforcing a foreign judgment
in foreign currency, a Québec court will convert it into
Canadian currency at the rate of exchange prevailing on the
date the foreign judgment became enforceable at the place
where it was rendered.

We enjoy no immunity under Québec law from suit or
judgment, irrespective of whether a party to the action is the
holder of the Notes, is or is not a resident within Québec or is
or is not a citizen of Canada. Although any judgment obtained
in an action brought in the courts of Québec against us may
not be enforced by execution, applicable statutes provide that
whenever we are condemned by a judgment that has become
definitive to pay a sum of money, the Ministre des Finances,
after having received a certified copy of the judgment, shall
pay the amount due out of the money at his or her disposal for
that purpose or, failing that, out of the Consolidated Revenue
Fund of Québec.
Governing Law
Laws of Québec and the laws of Canada applicable in Québec.
CUSIP
748149 AH4
Common Code
112236481
ISIN Code
US748149 AH49

S-6


RECENT DEVELOPMENTS
The information set forth below does not purport to be complete and supplements, and is qualified in its entirety by, the
more detailed information contained in Québec's Annual Report on Form 18-K for the fiscal year ended March 31, 2014, as
amended, and the other documents incorporated by reference in the basic prospectus. See "Where You Can Find More Information"
in the accompanying prospectus.
Recent Economic Developments in 2014
The following table shows the changes in the main economic indicators for Canada and Québec through the latest period
reported over the comparable period in the preceding year:

Percentage Changes Through Latest
Period Reported Over Comparable Period in


Latest Period
Preceding Year(1)


Reported

Canada

Québec
GDP:



Real GDP (chained 2007 dollars)

June

2.4(2)
1.4
Merchandise exports (2007 prices)

July

5.0(3)

7.1
Retail trade

July
4.8
3.1
Housing starts

August

2.5

4.7
Value of manufacturers' shipments

July
5.4
6.6
Employment

August

0.7

0.1
Consumer Price Index(4)

August
2.1
1.6


Latest Month
Percentage of Labor Force


Reported

Canada

Québec
Unemployment rate

August

7.0

7.7

(1)
Seasonally adjusted average of months available except for Consumer Price Index.
(2)
July.
(3)
August.
(4)
Year over year change, not seasonally adjusted.
Sources: Statistics Canada, Canada Mortgage and Housing Corporation and the Institut de la statistique du Québec.

S-7


Economic Assumptions
The projections in the 2014-2015 Budget reflect the following assumptions regarding the economy of Québec for 2014.

Economic Assumptions included in the 2014-2015 Budget
(in percentage)


Percentage Change over 2013
GDP

At current market prices

3.4
In chained 2007 dollars


1.8
Household income


2.8
Business non-residential capital expenditures (2007 prices)


1.3
International exports (2007 prices)

3.8
Household Consumption (2007 prices)


2.2
Labor force

0.7
Employment


0.8

Average
Rate
Unemployment rate


7.5
Note:Economic assumptions, such as those included in the table above in this report and in all amendments to this report, are
developed by Québec and are a necessary part of the budget process. Actual results may differ materially from these
assumptions.
Sources : Ministère des Finances du Québec.
USE OF PROCEEDS
The net proceeds of the issue, being approximately U.S.$1,582,922,000 (after deduction of our estimated expenses of
U.S.$150,000), will be added to the Consolidated Revenue Fund of Québec and will be applied to the general expenses of Québec or
advanced to the Financing Fund of Québec as permitted by law.
DESCRIPTION OF NOTES
This prospectus supplement describes the terms of the Notes in greater detail than the accompanying prospectus and may
provide information that differs from the prospectus. If the information in this prospectus supplement differs from the prospectus, you
should rely on the information in this prospectus supplement.
Québec will issue the Notes under the Fiscal Agency Agreement (as defined below). The information contained in this
section and in the accompanying prospectus summarizes some of the terms of the Notes. Because this is a summary, it does not
contain all of the information that may be important to you as a potential investor in the Notes. Therefore, you should read the Fiscal
Agency Agreement and the form of Notes in making your investment decision. Québec will file copies of these documents with the
Commission and will also file copies of these documents at the offices of the fiscal agent and the paying agents.
The Notes constitute a separate series of debt securities of Québec being offered by Québec from time to time. The portion
of the Notes being offered by this prospectus supplement and the accompanying prospectus dated December 18, 2012 to be sold in the
United States was registered under Registration Statement No. 333-185372, which Québec has filed with the Commission under the
United States Securities Act of 1933, as amended (the "Securities Act").

S-8


The Notes in the aggregate principal amount of U.S.$1,600,000,000 will be issued subject to a fiscal agency agreement to
be dated as of October 16, 2014 (the "Fiscal Agency Agreement"), between Québec and The Bank of New York Mellon, as fiscal
agent, transfer agent, registrar and principal paying agent (in all such capacities, the "Registrar"). Such terms and conditions will be
available to owners of beneficial interests in the Notes from Québec or the Registrar upon request. Holders of Notes will be bound by,
and deemed to have notice of, the provisions contained in the Fiscal Agency Agreement. Copies of the Fiscal Agency Agreement will
be available for inspection at the Commission and also may be inspected at and obtained, free of charge, from the offices of the
Registrar during their normal business hours on any weekday. References to principal and interest in respect of the Notes shall be
deemed also to refer to any Additional Amounts which may be payable as described below. See "Payment of Additional Amounts".
Form, Denomination, Title and Registration
The Notes will be issued in the form of one or more fully registered Global Notes registered in the name of Cede & Co., as
nominee of DTC, and held by The Bank of New York Mellon, as custodian for DTC. Beneficial interests in the Notes will be
represented through book-entry accounts of financial institutions acting on behalf of owners of such beneficial interests as direct and
indirect participants in DTC, Euroclear or Clearstream, Luxembourg (collectively, the "Clearing Systems"). The Clearing Systems
will be responsible for establishing and maintaining book-entry accounts for their participants having interests in the Notes. Neither
Québec nor the Registrar will have any responsibility or liability for any aspect of the records of the Clearing Systems relating to or
payments made by such Clearing Systems on account of beneficial interests in the Global Notes or for maintaining, supervising or
reviewing any records of such Clearing Systems relevant to such beneficial interests. Owners of beneficial interests in the Notes will
not, except in limited circumstances described herein, be entitled to receive certificates representing Notes ("Certificated Notes") or to
have Notes registered in their names, and will not be considered holders thereof under the Fiscal Agency Agreement. See
"Certificated Notes". Subject to applicable law and the terms of the Fiscal Agency Agreement, Québec and the Registrar shall deem
and treat the persons in whose name the Global Notes are registered, initially Cede & Co., as the absolute owners thereof for all
purposes whatsoever notwithstanding any notice to the contrary. All payments to, or on the order of, the registered holders shall be
valid and effectual to discharge the liability of Québec and the Registrar on the Notes to the extent of the sum or sums so paid.
The Notes will only be sold in denominations of U.S.$5,000 and in multiples of U.S.$1,000 in excess thereof.
The Registrar will be responsible for (i) maintaining a record of the aggregate holdings of Notes; (ii) ensuring that
payments of principal and interest in respect of the Notes received by the Registrar from Québec are duly credited to DTC; and
(iii) transmitting to Québec any notices from owners of beneficial interests in the Notes. The Registrar will not impose any fees in
respect of the Notes, other than reasonable fees for the replacement of lost, stolen, mutilated or destroyed Notes. However, owners of
beneficial interests in the Notes may incur fees payable in respect of the maintenance and operation of the book-entry accounts in
which such Notes are held with the Clearing Systems.
Interest
The Notes will bear interest from October 16, 2014 at a rate of 2.875% per annum, payable in two equal semi-annual
installments, in arrears on April 16 and October 16, commencing on April 16, 2015. Interest on the Notes will cease to accrue on the
maturity date (or the date fixed for redemption or repayment) unless, upon due presentation of the Notes, payment of principal is
improperly withheld or refused.
Whenever it is necessary to compute any amount of interest in respect of the Notes, other than with respect to regular semi-
annual payments, such interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months. The rate of
interest specified in the Notes is a nominal rate and all interest payments and computations are to be made without allowances or
deductions for deemed reinvestment.

S-9


Payments
Principal of, and interest and Additional Amounts (as defined below under "Payment of Additional Amounts"), if any, on,
the Notes are payable by Québec in U.S. dollars to the person registered at the close of business on the relevant record date in the
register held by the Registrar. With respect to Notes held by Cede & Co. for the benefit of DTC, payment will be made to owners of
beneficial interests in the Notes in accordance with customary procedures established from time to time by DTC and its direct and
indirect participants, including Euroclear and Clearstream, Luxembourg. The Registrar will act as Québec's principal paying agent for
the Notes pursuant to the Fiscal Agency Agreement.
If any date for payment in respect of any Note is not a Business Day in the applicable place of payment, the holder thereof
shall not be entitled to payment until the next following Business Day, and no further interest shall be paid in respect of the delay in
such payment. In this paragraph, "Business Day" means a day on which banking institutions in The City of New York and in any
other applicable place of payment are not authorized or obligated by law or executive order to be closed.
If Certificated Notes are issued and for so long as the Notes are listed on the Luxembourg Stock Exchange and the rules of
such stock exchange so require, Québec will appoint and maintain a paying and transfer agent in Luxembourg. Québec will also
maintain a paying agent in a Member State of the European Union that is not obliged to withhold or deduct tax pursuant to European
Council Directive 2003/48/EC or any other law implementing or complying with, or introduced in order to conform to, such
Directive.
Record Date
The record date for purposes of payments of principal of and interest and Additional Amounts, if any, on the Notes will be
as of 5:00 p.m., New York City time, on the fourteenth calendar day preceding the maturity date or any interest payment date, as
applicable. Ownership positions within each Clearing System will be determined in accordance with the normal conventions observed
by such system.
Payment of Additional Amounts
All payments of principal and interest by Québec will be made without withholding or deduction for, or on account of, any
present or future taxes, duties, assessments or charges of whatever nature imposed or levied by or on behalf of the Government of
Canada or any province, territory or political division thereof or any authority or agency therein or thereof having power to tax, unless
the withholding or deduction of such taxes, duties, assessments or charges is required by law or by the interpretation or administration
thereof. In that event, Québec will, subject to its redemption rights pursuant to the Fiscal Agency Agreement and the Notes, pay such
additional amounts (the "Additional Amounts") as may be necessary in order that the net amounts receivable by the holder after such
withholding or deduction shall equal the respective amounts of principal or interest which would have been receivable in respect of
the Notes in the absence of such withholding or deduction; except that no such Additional Amount shall be payable with respect to
any Note:

(i)
to, or to a third party on behalf of, a holder who is liable to such taxes, duties, assessments or charges in respect of

such Note by reason of that person having some connection with Canada other than the mere holding or use outside
Canada, or ownership as a non-resident of Canada, of such Note; or

(ii)
presented for payment more than 30 days after the Relevant Date (as defined below) except to the extent that the

holder thereof would have been entitled to such Additional Amounts on presenting the same for payment on or
before such thirtieth day; or

(iii)
where such withholding or deduction is imposed on a payment to an individual and is required to be made pursuant

to European Council Directive 2003/48/EC or any other law implementing or complying with, or introduced in
order to conform to, such Directive; or

S-10