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Common use of Prevention of Avoidance Clause in Contracts

Prevention of Avoidance. The Cayman Islands shall implement as necessary requirements to prevent Financial Institutions from adopting practices intended to circumvent the reporting required under this Agreement.

Appears in 2 contracts

Sources: International Tax Compliance Agreement, International Tax Compliance Agreement

Related Clauses

  • Provision of Services by Third Parties
  • Particular Methods of Procurement of Consultants’ Services
  • Other Methods of Procurement of Consultants’ Services
  • Termination of Engagement
  • Cessation of services

Parent Clauses

  • Collaboration on Compliance and Enforcement
  • Coordination of Definitions with U.S. Treasury Regulations
  • Time and Manner of Exchange of Information
  • Definitions
  • Obligations to Obtain and Exchange Information with Respect to Reportable Accounts

Sub-Clauses

  • Treatment of Passthru Payments and Gross Proceeds
  • Documentation of Accounts Maintained as of June 30, 2014
  • General
  • Reciprocity
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