Common use of Automatic exchange of information Clause in Contracts

Automatic exchange of information. 15.1 If Jersey enters into any agreements with other jurisdictions for the automatic exchange of tax or other information, GBTC may be required to collect and disclose Reportable Information in respect of a Data Subject, Entity or other relevant person connected to the Data Subject or Entity to foreign tax or governmental authorities either directly or via relevant Jersey statutory bodies. This obligation to obtain, disclose and exchange Reportable Information extends beyond the ultimate beneficial owner of the Entity to other relevant parties such as the directors, minority shareholders and persons who receive certain payments from the Entity. 15.2 The Client agrees that GBTC shall be entitled to comply with such reporting requirements and authorises GBTC to disclose Reportable Information. The Client further acknowledges that such reporting requirement may continue after the termination of this Agreement.