Common use of Data Processing In The Financial Services Xxxxxx Clause in Contracts

Data Processing In The Financial Services Xxxxxx. 0. Each Party shall permit a financial service supplier of the other Party to transfer information in electronic or other form, into and out of its territory, for data processing where such processing is required in the ordinary course of business of such financial service supplier. 2. Where the information referred to in paragraph 1 consists of or contains personal data, the transfer of such information from the territory of one Party to the territory of the other Party shall take place in accordance with the domestic law regulating the protection of individuals with respect to the transferring and processing of personal data of the Party out of whose territory the information is transferred.

Data Processing In The Financial Services Xxxxxx. 0. Each Party shall permit a financial service supplier of the other Party to transfer information in electronic or other form, into and out of its territoryArea, for data processing where such processing is required in the ordinary course of business of such financial service supplier. 2. Where the information referred to in paragraph 1 consists of or contains personal data, the transfer of such information from the territory Area of one Party to the territory Area of the other Party shall take place in accordance with the domestic law laws and regulations regulating the protection of individuals with respect to the transferring and processing of personal data of the Party out of whose territory Area the information is transferred.