General/Significance for clients Sample Clauses

General/Significance for clients. Which clients will be affected by the flat rate tax? The agreement only applies to natural persons domiciled in Germany. The agreement also applies to natural persons domiciled in Germany who hold indirect assets in Switzerland – for example through a foundation or other domiciliary company in which they have a bene- ficial interest. Which assets will be regularised under the agreement? The agreement covers assets in bank accounts and securities portfolios held by the above-mentioned clients in Switzerland. Are assets at Postfinance also affected? The agreement covers all assets (bank accounts and securities portfolios) held by the above-mentioned clients at banks, brokers, Postfinance and asset managers. What can clients do now? At this stage, clients are not required to take any immediate action in terms of the provi- sions of the agreement. The treaty will have to be signed and then ratified by the parlia- ments of both countries, after which it enters into force. Once the agreement has entered into force (provisionally on 1 January 2013), all clients will have five months to choose one of the following options: • Regularisation of the past: o Anonymous regularisation by way of a one-off flat rate tax. o Voluntary disclosure to the German tax authorities without penalty and voluntary notification to the Swiss Federal Tax Administration (SFTA). o For bank clients who were already tax compliant: voluntary notification to the Swiss Federal Tax Administration (SFTA). • Final withholding tax for the future: o Anonymous annual withholding tax to satisfy tax liability (flat rate tax) o or, voluntary notification to the Swiss Federal Tax Administration (SFTA). If clients do not select any of the above options, they will automatically be subject to the flat rate tax. If clients decide not to take advantage of this beneficial solution, they must withdraw their assets from Switzerland by 31 May 2013. However, the Swiss banks will not actively sup- port clients in this regard. If bank clients use the flat rate tax option, will the Swiss bank-client confidentiality not be affected? Quite the opposite, in fact. The bank will debit clients with the flat rate tax due and transfer the money to the Swiss Federal Tax Administration (SFTA), which will in turn transfer the money to the German tax authorities. The process will be monitored exclusively by the SFTA; foreign authorities will not be involved in the process at all. The legitimate protection of privacy in financia...
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Related to General/Significance for clients

  • Exclusions to Confidential Information For purposes of this Confidentiality Agreement, Confidential Information does not include information that:

  • Contractor Designation of Trade Secrets or Otherwise Confidential Information If the Contractor considers any portion of materials to be trade secret under section 688.002 or 812.081, F.S., or otherwise confidential under Florida or federal law, the Contractor must clearly designate that portion of the materials as trade secret or otherwise confidential when submitted to the Department. The Contractor will be responsible for responding to and resolving all claims for access to Contract-related materials it has designated trade secret or otherwise confidential.

  • Exceptions to Confidential Information The obligations set forth in Section 13.1 (Confidential Information) shall not apply to the extent that Confidential Information includes information which is: (a) now or hereafter, through no unauthorized act or failure to act on the Receiving Party’s part, in the public domain; (b) was in the Receiving Party’s possession before receipt from the Disclosing Party and obtained from a source other than the Disclosing Party and other than through the prior relationship of the Disclosing Party and the Receiving Party before the Separation Date; (c) hereafter furnished to the Receiving Party by a third party as a matter of right and without restriction on disclosure; (d) furnished to others by the Disclosing Party without restriction on disclosure; or (e) independently developed by the Receiving Party without use of the Disclosing Party’s Confidential Information. Nothing in this Agreement shall prevent the Receiving Party from disclosing Confidential Information to the extent the Receiving Party is legally compelled to do so by any governmental, investigative or judicial agency pursuant to proceedings over which such agency has jurisdiction; provided, however, that prior to any such disclosure, the Receiving Party shall: (i) assert the confidential nature of the Confidential Information to the agency; (ii) immediately notify the Disclosing Party in writing of the agency’s order or request to disclose; and (iii) cooperate fully with the Disclosing Party in protecting against any such disclosure and/or obtaining a protective order narrowing the scope of the compelled disclosure and protecting its confidentiality.

  • Handling Sensitive Personal Information and Breach Notification A. As part of its contract with HHSC Contractor may receive or create sensitive personal information, as section 521.002 of the Business and Commerce Code defines that phrase. Contractor must use appropriate safeguards to protect this sensitive personal information. These safeguards must include maintaining the sensitive personal information in a form that is unusable, unreadable, or indecipherable to unauthorized persons. Contractor may consult the “Guidance to Render Unsecured Protected Health Information Unusable, Unreadable, or Indecipherable to Unauthorized Individuals” issued by the U.S. Department of Health and Human Services to determine ways to meet this standard.

  • What Will Happen After We Receive Your Letter When we receive your letter, we must do two things:

  • Exclusions from Confidential Information Receiving Party's obligations under this Agreement do not extend to information that is: (a) publicly known at the time of disclosure or subsequently becomes publicly known through no fault of the Receiving Party; (b) discovered or created by the Receiving Party before disclosure by Disclosing Party; (c) learned by the Receiving Party through legitimate means other than from the Disclosing Party or Disclosing Party's representatives; or (d) is disclosed by Receiving Party with Disclosing Party's prior written approval.

  • Title to Confidential Information a) Transnet will retain all right, title and interest in and to its Confidential Information and Background Intellectual Property and the Supplier/Service Provider acknowledges that it has no claim of any nature in and to the Confidential Information and Background Intellectual Property that is proprietary to Transnet. For the avoidance of doubt all the Supplier/Service Provider’s Background Intellectual Property shall remain vested in the Supplier/Service Provider.

  • Confidentiality and Disclosure of Offering Materials by Potential Investor Potential Investor acknowledges on behalf of itself and any and all Related Parties that the Offering Materials are considered confidential and proprietary information of Owner and/or HFF, and Potential Investor will not make (or cause or permit any Related Party to make) any Offering Materials available, or disclose any of the contents thereof, to any person without Owner’s or HFF’s prior written consent; provided, however, that the Offering Materials may be disclosed to the Potential Investor’s Representative (if any), the Potential Investor's partners, employees, legal counsel, advisors, institutional lenders and other capital sources (collectively the "Related Parties") as reasonably required for an evaluation of the Property. Such Related Parties shall be informed by Potential Investor of the confidential nature of the Offering Materials and the terms of this Agreement and shall be directed by Potential Investor to keep the Offering Materials and related information strictly confidential in accordance with this Agreement and to otherwise abide by the terms of this Agreement as if such party was the Potential Investor hereunder. In the event any Related Party shall take or omit to take any action which if taken or omitted to be taken by Potential Investor would constitute a breach of or a default under the terms hereof, the such act or omission by such Related Party shall be deemed to be a breach of the terms hereof by Potential Investor.

  • Rights of Employees to Representation Any aggrieved person may be represented at all stages of the grievance procedure by himself/herself and, at his/her option, by a representative selected or approved by the Association. It is further recognized that any adjustment reached without a representative of the Association present shall be without prejudice to the Association.

  • CONFIDENTIAL, PROPRIETARY, AND TRADE SECRET INFORMATION AND MATERIALS a. Buyer and Seller shall each keep confidential and protect from unauthorized use and disclosure all (i) confidential, proprietary and/or trade secret information of a Party or third party disclosed by a Party; (ii) software provided under this Contract in source code form or identified as subject to this Article; and (iii) tooling identified as subject to this Article: in each case that is obtained, directly or indirectly, from the other in connection with this Contract or Buyer’s contract with its customer, if any, (collectively referred to as "Proprietary Information and Materials"). Proprietary Information and Materials excludes information that is, as evidenced by competent records provided by the receiving Party, known to the receiving party or lawfully in the public domain, in the same form as disclosed hereunder, disclosed to the receiving Party without restriction by a third party having the right to disclose it, or developed by the receiving Party independently without use of or reference to the disclosing Party’s Proprietary Information and Materials.

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