Common use of New Financial Services and Data Processing Clause in Contracts

New Financial Services and Data Processing. 1. Each Party shall permit a financial institution of another Party to provide any new financial service of a type similar to those which that Party permits its financial institutions to provide under its law in like circumstances. The Party may decide the institutional and legal modality through which such service is offered and may require authorization for the provision of such service. When such authorization is required, the respective resolution shall be issued within a reasonable period of time and authorization may only be denied for prudential reasons. 2. Each Party shall permit financial institutions of another Party to transfer for processing information into or out of the territory of the Party, using any means authorized therein, when necessary to carry out the ordinary business activities of those institutions.

New Financial Services and Data Processing. 1. Each Party shall permit a financial institution of another Party the other party to provide any new financial service similar to those of a type similar to those which that Party permits may provide for its financial institutions to provide under institutions, in its law legislation in like circumstances. The a Party may decide determine the institutional and legal modality juridical form through which such the service is offered to be provided and may require authorization for the provision of such servicethe same. When where such authorization is required, the respective resolution decision shall be issued made within a reasonable period of time and authorization may only be denied refused for prudential reasons. 2. Each Party shall permit allow a financial institutions of another the other Party to transfer transfer, for processing information into information, within or out of outside the territory of the Party, using any means authorized therein, therein when necessary to carry for carrying out the ordinary business activities of those such institutions.

New Financial Services and Data Processing. 1. Each Party shall permit permit, in like circumstances, a financial institution of another the other Party to provide any new financial service services of a type similar to those which that that Party permits its financial institutions to provide under its law in like circumstanceslaw. The Party may decide the institutional and legal modality through which such service is offered and may require authorization for the provision of such service. When such authorization is required, the respective resolution shall be issued within a reasonable period of time and authorization may only be denied for prudential reasons. 2. Each Party shall permit financial institutions of another the other Party to transfer transfer, for processing processing, information into or out of the territory of the Party, using any of the means authorized therein, when necessary to carry out the ordinary business activities of those institutions.

New Financial Services and Data Processing. 1. Each Party shall permit a financial institution of another Party the other party to provide any new financial service similar to those of a type similar to those which that Party permits may provide for its financial institutions to provide under institutions, in accordance with its law in like circumstanceslegislation. The A Party may decide determine the institutional and legal modality juridical form through which such the service is offered may be provided and may require authorization for the provision of such servicethe same. When Where such authorization is required, the respective resolution decision shall be issued made within a reasonable period of time and authorization the authorisation may only be denied refused for prudential reasons. 2. Each Party shall permit allow a financial institutions of another Party to transfer transfer, for processing information into information, within or out of outside the territory of the Party, using any means authorized therein, therein when necessary to carry for carrying out the ordinary business activities of those such institutions.

New Financial Services and Data Processing. 1. Each Party shall permit a financial institution of another Party to provide any new financial service of a type similar to those which that such other Party permits its financial institutions to provide under provide, in accordance with its law in like circumstanceslegislation. The Party may decide the institutional and legal modality through which such service is offered and may require authorization for the provision of such service. When such authorization is required, the respective resolution shall be issued within a reasonable period of time and authorization may only be denied for prudential reasons. 2. Each Party shall permit financial institutions of another Party to transfer transfer, for processing processing, information into or out of the territory of the Party, using any means authorized therein, when necessary to carry out the ordinary business activities of those institutions.