Where a relevant person or other contracting party has given his or her express authorisation, the Swiss paying agent shall disclose the information set out in the applicable agreement to the FTA by the deadlines set out in the agreement.
Such disclosure shall be made without authorisation if so provided for in the applicable agreement.
Where a relevant person has established a business relationship with a Swiss paying agent between appointed date 2 and appointed date 3 and opted for voluntary disclosure, the Swiss paying agent shall disclose the information in accordance with the applicable agreement on appointed date 4 at the earliest but no later than 12 months after appointed date 3. Where the previous paying agent fails to submit the required information within 12 months of appointed date 3 and where the relevant person or other contracting party has not initiated civil proceedings against the previous paying agent, the new Swiss paying agent shall proceed in the same manner as if the relevant person had not complied with his or her duties.
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