Progetto

ARTICLE 7

Consultations and suspension of the Agreement

1. If any difficulties in the implementation or interpretation of this Agreement arise, any of the Competent Authorities of Switzerland or a Member State may request consultations between the Competent Authority of Switzerland and one or more of the Competent

Authorities of Member States to develop appropriate measures to ensure that this Agreement is fulfilled. Those Competent Authorities shall immediately notify the European Commission and the Competent Authorities of the other Member States of the results of their consultations. In relation to issues of interpretation, the European Commission may take part in

consultations at the request of any of the Competent Authorities.

2. If the consultation relates to significant non-compliance with the provisions of this Agreement, and the procedure described in paragraph 1 does not provide for an adequate settlement, the Competent Authority of a Member State or Switzerland may suspend the exchange of information under this Agreement towards, respectively, Switzerland or a specific Member State, by giving notice in writing to the other Competent Authority

concerned. Such suspension will have immediate effect. For the purposes of this paragraph, significant non-compliance includes, but is not limited to, non-compliance with the

confidentiality and data safeguard provisions of this Agreement, a failure by the Competent Authority of a Member State or Switzerland to provide timely or adequate information as required under this Agreement or defining the status of Entities or accounts as Non-Reporting Financial Institutions and Excluded Accounts in a manner that frustrates the purposes of this Agreement.

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