Common use of Partner Jurisdiction Accounts Clause in Contracts

Partner Jurisdiction Accounts. 1. An account or product that would be excluded from the definition of Financial Account under an Agreement to Improve International Tax Compliance (or similar Arrangement) between the UK and another Jurisdiction (Jurisdiction X) where: a) the account or product is established in Jurisdiction X but is maintained in Jersey; and b) the account or product maintained in Jersey is subject to the same requirements and oversight under the laws of Jurisdiction X, as it would be if that account or product was maintained by a Financial Institution in Jurisdiction X. 2. An account or product established in the United Kingdom but maintained in Jersey will be excluded from the definition of Financial Account if: a) The account or product would have been excluded under this Agreement if it was established and maintained by a United Kingdom Financial Institution; and b) The account or product maintained in Jersey is subject to the same requirements and oversight under the laws of the United Kingdom, as it would be if that account or product was maintained by a FI in the United Kingdom.

Partner Jurisdiction Accounts. 1. An account or product that would be excluded from the definition of Financial Account under an Agreement to Improve International Tax Compliance (or similar Arrangement) between the UK Jersey and another Jurisdiction (Jurisdiction X) where: a) the account or product is established in Jurisdiction X but is maintained in Jerseythe United Kingdom; and b) the account or product maintained in Jersey the United Kingdom is subject to the same requirements and oversight under the laws of Jurisdiction X, as it would be if that account or product was maintained by a Financial Institution in Jurisdiction X. 2. An account or product established in Jersey but maintained in the United Kingdom but maintained in Jersey will be excluded from the definition of Financial Account if: a) The account or product would have been excluded under this Agreement if it was established and maintained by a United Kingdom Jersey Financial Institution; and b) The account or product maintained in Jersey the United Kingdom is subject to the same requirements and oversight under the laws of the United KingdomJersey, as it would be if that account or product was maintained by a FI in the United KingdomJersey.