Exchange of Information
(1) The competent authorities of the territories shall exchange such information as is foreseeably relevant for carrying out the provisions of this Agreement or of the domestic laws concerning taxes of every kind and description imposed on behalf of the territories, or of their subdivisions or local authorities, insofar as the taxation thereunder is not contrary to the Agreement. The exchange of information is not restricted by Articles 1 and 2.
(2) Any information received under paragraph (1) by a competent authority of the territory shall be treated as secret in the same manner as information obtained under the laws in force of that territory and shall be disclosed only to persons or authorities (including courts and administrative bodies) concerned with the assessment or collection of, the enforcement or prosecution in respect of, the determination of appeals in relation to the taxes referred to in paragraph (1). Such persons or authorities shall use the information only for such purposes. They may disclose the information in public court proceedings or in judicial decisions.
(3) In no case shall the provisions of paragraphs (1) and (2) be construed so as to impose on a competent authority of a territory the obligation:
- (a) to carry out administrative measures at variance with the laws in force of the territory and administrative practice of that or of the other territory;
- (b) to supply information which is not obtainable under the laws in force of the territory or in the normal course of the administration of that or of the other territory;
- (c) to supply information which would disclose any trade, business, industrial, commercial or professional secret or trade process, or information the disclosure of which would be contrary to public policy (ordre public).
(4) If information is requested by a competent authority of the territory in accordance with this Article, the other competent authority of the territory shall use its information gathering measures to obtain the requested information, even though that other competent authority of the territory may not need such information for its own tax purposes. The obligation contained in the preceding sentence is subject to the limitations of paragraph (3) but in no case shall such limitations be construed to permit a competent authority of the territory to decline to supply information solely because it has no domestic interest in such information.