Common use of Effect of Finding United Kingdom Indicia Clause in Contracts

Effect of Finding United Kingdom Indicia. a) If none of the United Kingdom indicia listed in subparagraph B.1. of this section are discovered in the enhanced review of High Value Accounts described above, and the account is not identified as held by a Specified United Kingdom Person in subparagraph D.4. of this section, then no further action is required until there is a change in circumstances described in subparagraph E.4. of this section. b) If any of the United Kingdom indicia listed in subparagraph B.1. of this section are discovered in the enhanced review of High Value Accounts described above, or if there is a subsequent change in circumstances that results in one or more United Kingdom indicia being associated with the account, then the Reporting Cayman Islands Financial Institution must treat the account as a United Kingdom Reportable Account unless it elects to apply subparagraph B.4. of this section applies and one or more of the exceptions in that subparagraph applies with respect to that account. c) Except for Depository Accounts described in subparagraph A.3. of this section, any Preexisting Individual Account that has been identified as a United Kingdom Reportable Account under this section shall be treated as a United Kingdom Reportable Account in all subsequent years, unless the Account Holder ceases to be a Specified United Kingdom Person.

Effect of Finding United Kingdom Indicia. a) If none of the United Kingdom indicia listed in subparagraph B.1. of this section are discovered in the enhanced review of High Value Accounts described above, and the account is not identified as held by a Specified United Kingdom Person in subparagraph D.4. of this section, then no further action is required until there is a change in circumstances described in subparagraph E.4. of this section. b) If any of the United Kingdom indicia listed in subparagraph B.1. of this section are discovered in the enhanced review of High Value Accounts described above, or if there is a subsequent change in circumstances that results in one or more United Kingdom indicia being associated with the account, then the Reporting Cayman Islands Anguilla Financial Institution must treat the account as a United Kingdom Reportable Account unless it elects to apply subparagraph B.4. of this section applies and one or more of the exceptions in that subparagraph applies with respect to that account. c) Except for Depository Accounts described in subparagraph A.3. of this section, any Preexisting Individual Account that has been identified as a United Kingdom Reportable Account under this section shall be treated as a United Kingdom Reportable Account in all subsequent years, unless the Account Holder ceases to be a Specified United Kingdom Person.

Effect of Finding United Kingdom Indicia. a) If none of the United Kingdom indicia listed in subparagraph B.1. of this section are discovered in the enhanced review of High Value Accounts described above, and the account is not identified as held by a Specified United Kingdom Person in subparagraph D.4. of this section, then no further action is required until there is a change in circumstances described in subparagraph E.4. of this section. b) If any of the United Kingdom indicia listed in subparagraph B.1. of this section are discovered in the enhanced review of High Value Accounts described above, or if there is a subsequent change in circumstances that results in one or more United Kingdom indicia being associated with the account, then the Reporting Cayman Islands Bermuda Financial Institution must treat the account as a United Kingdom Reportable Account unless it elects to apply subparagraph B.4. of this section applies and one or more of the exceptions in that subparagraph applies with respect to that account. c) Except for Depository Accounts described in subparagraph A.3. of this section, any Preexisting Individual Account that has been identified as a United Kingdom Reportable Account under this section shall be treated as a United Kingdom Reportable Account in all subsequent years, unless the Account Holder ceases to be a Specified United Kingdom Person.

Effect of Finding United Kingdom Indicia. a) If none of the United Kingdom indicia listed in subparagraph B.1. of this section are discovered in the enhanced review of High Value Accounts described above, and the account is not identified as held by a Specified United Kingdom Person in subparagraph D.4. of this section, then no further action is required until there is a change in circumstances described in subparagraph E.4. of this section. b) If any of the United Kingdom indicia listed in subparagraph B.1. of this section are discovered in the enhanced review of High Value Accounts described above, or if there is a subsequent change in circumstances that results in one or more United Kingdom indicia being associated with the account, then the Reporting Cayman Islands Montserrat Financial Institution must treat the account as a United Kingdom Reportable Account unless it elects to apply subparagraph B.4. of this section applies and one or more of the exceptions in that subparagraph applies with respect to that account. c) Except for Depository Accounts described in subparagraph A.3. of this section, any Preexisting Individual Account that has been identified as a United Kingdom Reportable Account under this section shall be treated as a United Kingdom Reportable Account in all subsequent years, unless the Account Holder ceases to be a Specified United Kingdom Person.