(1) A Reporting Saint Lucia Financial Institution shall establish and maintain arrangements that are designed to identify payments —
(a) which are made by the Reporting Saint Lucia Financial Institution to a Non-participating Financial Institution; and
(b) which are made in the calendar year 2015 or 2016, whether the payment is made to a Non-participating Financial Institution as an account holder or otherwise.
(2) A Reporting Saint Lucia Financial Institution may regard a payment made by it to a Reporting Saint Lucia Financial Institution as made to someone who is not a Non-participating Financial Institution only if it has, in respect of the payment, taken the steps referred to at paragraph IV.D (3) of Annex I of the Agreement.
(3) In respect of any case in the calendar years 2015 and 2016 when a Reporting Saint Lucia Financial Institution is within the terms of sub-paragraph 1(e) of Article 4 of the Agreement, the Reporting Saint Lucia Financial Institution shall make a disclosure of information in accordance with the requirements of that sub-paragraph.