Vorlage

With respect to a Preexisting Entity Account, each Member State or Switzerland shall have the option to allow Reporting Financial Institutions to use as Documentary Evidence any classification in the Reporting Financial Institution's records with respect to the Account Holder that was determined based on a standardised industry coding system, that was

recorded by the Reporting Financial Institution consistent with its normal business practices for purposes of AML/KYC Procedures or another regulatory purposes (other than for tax purposes) and that was implemented by the Reporting Financial Institution prior to the date used to classify the Financial Account as a Preexisting Account, provided that the Reporting Financial Institution does not know or does not have reason to know that such classification is incorrect or unreliable. The term "standardised industry coding system" means a coding system used to classify establishments by business type for purposes other than tax purposes.

Before the entry into force of the Amending Protocol signed on ...^∗, Member States shall communicate to Switzerland and Switzerland shall communicate to the European

Commission whether they have exercised the option provided for in this subparagraph. The European Commission may coordinate the transmission of the communication from

Member States to Switzerland and the European Commission shall transmit the

communication from Switzerland to all Member States. All further changes to the exercise of that option by a Member State or Switzerland shall be communicated in the same manner.

^∗OJ: please insert the date of signature of this Amending Protocol.

AMP/EU/CH/en 85