Common use of PREVENTION OF THE FACILITATION OF TAX EVASION Clause in Contracts

PREVENTION OF THE FACILITATION OF TAX EVASION. The Bank is committed to guard against and prevent the facilitation of tax evasion which includes, amongst other things, complying with local and international legislation relating to the prevention of tax evasion. The Bank expects transparency and integrity in all business dealings. It is the responsibility of the Client to ensure that it acts in accordance with local and international prevention of tax evasion legislation at all times. Where a Client is a corporate body, the Client undertakes to have in place and maintain (throughout the period during which the Services are provided) appropriate measures, policies and procedures, including (but not limited to) adequate procedures required to comply with the requirements of the UK Criminal Finances Act 2017 and UK Government Guidance for the Corporate Offences of Failure to Present the Criminal Facilitation of Tax Evasion. The Client agrees to notify the Bank promptly in the event that the Client or any person engaged by the Client is investigated, prosecuted, charged or convicted of any offence under legislation relating to prevention of the facilitation of tax evasion.