Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 59

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 59
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on the AEOI in tax matters (the “AEOI Agreement”). This AEOI Agreement entered into force as of January 1, 2017 and applies
to all 28 member states as well as Gibraltar. Furthermore, on January 1, 2017, the multilateral competent authority agreement on
the automatic exchange of financial account information and, based on such agreement, a number of bilateral AEOI agreements with other
jurisdictions entered into force. The Federal Act on the International Automatic Exchange of Information in Tax Matters (the “AEOI
Act”), which is the primary legal basis for the implementation of the AEOI standard in Switzerland, entered into force on January 1,
2017 as well.

Based on such multilateral
agreements and bilateral agreements and the implementing laws of Switzerland, Switzerland collects data in respect of financial assets,
which may include Common Shares or Preferred Shares, held in, and income derived thereon and credited to, accounts or deposits with a
paying agent in Switzerland for the benefit of individuals resident in a EU member state or in a treaty state since 2017, and exchanges
it since 2018. Switzerland has signed and is expected to sign further bi- or multilateral AEOI in tax matter agreements with other countries,
which entered into force on January 1, 2018 or January 1, 2019 or will enter into force at a later date.

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A list of such multilateral
agreements and bilateral agreements of Switzerland in effect or signed and becoming effective can be found on the website of the State
Secretariat for International Finance.

On February 27, 2019,
the Federal Council (Bundesrat) initiated the consultation on the revision of the AEOI Act and ordinance on the AEOI (the “AEOI
Ordinance”). The consultation proposal takes account of recommendations from the Global Forum on Transparency and Exchange of Information
for Tax Purposes. They concern, among other things, certain due diligence and registration obligations, the maintenance of a document
retention obligation for reporting Swiss financial institutions, as well as definitions thereunder. Some exceptions have also been removed
or adapted. The amendments to the AEOI Act and AEOI Ordinance entered into force on January 1, 2021. Further revisions of the AEOI
Act and the AEOI Ordinance concerning the Common Reporting Standard (“CRS”) are expected in