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meaning under the applicable tax laws of that Party prevailing over a meaning given to the term under other laws

of that Party.

Article 5

Exchange of Information Upon Request

1. The competent authority of the requested Party shall provide upon request by the requesting Party

information for the purposes referred to in Article 1. Such information shall be exchanged without regard to

whether the requested Party needs such information for its own tax purposes or the conduct being investigated

would constitute a crime under the laws of the requested Party if it had occurred in the territory of the requested

Party. The competent authority of the requesting Party shall only make a request for information pursuant to this

Article when it is unable to obtain the requested information by other means in its own territory, except where

recourse to such means would give rise to disproportionate difficulty.

2. If the information in the possession of the competent authority of the requested Party is not sufficient to

enable it to comply with the request for information, that Party shall use at its own discretion all relevant

information gathering measures necessary to provide the requesting Party with the information requested,

notwithstanding that the requested Party may not, at that time, need such information for its own tax purposes.

3. If specifically requested by the competent authority of the requesting Party, the competent authority of the

requested Party shall provide information under this Article, to the extent allowable under its laws, in the form of

depositions of witnesses and authenticated copies of original records.

4. Each Party shall ensure that its competent authority for the purposes specified in Article 1 and subject to

Article 2 of this Agreement, has the authority to obtain and provide upon request:

a) Information held by banks, other financial institutions, and any person, including nominees and trustees,

acting in an agency or fiduciary capacity; and

b) Information regarding the beneficial ownership of companies, partnerships and other persons, including in

the case of collective investment funds and schemes, information on shares, units and other interests; in the case

of trusts, information on settlors, trustees and beneficiaries; and in the case of foundations, information on

founders, members of the foundation council and beneficiaries,

provided that this Agreement does not create an obligation for a Party to obtain or provide ownership

information with respect to publicly traded companies or public collective investment funds or schemes unless

such information can be obtained without giving rise to disproportionate difficulties.

5. Any request for information shall be formulated with the greatest detail possible and shall specify in writing:

a) The identity of the person under examination or investigation;

b) The period for which the information is requested;

c) The nature of the information sought and the form in which the requesting Party would prefer to receive it;

d) The tax purpose for which the information is sought;

e) The reasons for believing that the information requested is foreseeably relevant to the tax administration

and enforcement of the requesting Party, with respect to the person identified in subparagraph a) of this

paragraph;

f) Grounds for believing that the information requested is held in the requested Party or is in the possession

of or obtainable by a person within the jurisdiction of the requested Party,

g) To the extent known, the name and address of any person believed to be in possession of the requested

information;

h) A statement that the request is in conformity with the laws and administrative practices of the requesting

Party, that if the requested information was within the jurisdiction of the requesting Party then the competent

authority of the requesting Party would be able to obtain the information under the laws of the requesting Party

or in the normal course of administrative practice and that it is in conformity with this Agreement;