Article 120 bis 2 provides the framework for the Automatic Exchange of Information (AEOI). It mandates that 'designated persons' must collect, preserve, and provide specific information for this purpose. The Chairman of the Tax Authority is authorized to issue decisions identifying who these designated persons are (e.g., financial institutions), what information they must report, how long records must be kept, and the exact procedures for submission. This Article is the legal basis for Oman's participation in global standards like the Common Reporting Standard (CRS) and FATCA.