5. (1) An entity established in the United Kingdom may obtain a certificate to the effect that it is to be treated as a authorised in accordance with for the purposes of UCITS the UCITS Directive the in accordance with this regulation. Savings Directive (2) A notice requesting the issue of a certificate shall be given to by or on Revenue and Customs behalf of the entity. (3) The notice shall include the following information – (a) the name and address of the entity; (b) where the notice is given on behalf of the entity, the name, address and position of the person giving notice; (c) a statement that – (i) the entity is established in the United Kingdom; (ii) the entity is not a person; (iii) the entity‘s profits are not under the general arrangements for business taxation; (iv) the entity is not a authorised in accordance with and UCITS the UCITS Directive; (v) the entity elects to be treated as if it were a authorised in accordance with UCITS for the purposes of and the UCITS Directive the Savings Directive; (d) a signed and dated declaration by the person giving notice to the effect that it is to the best of his knowledge correct and complete. (4) will issue a certificate to that entity confirming that it is to be treated as if it Revenue and Customs were a authorised in accordance with for the purposes of UCITS the UCITS Directive the and that certificate shall have effect from the date specified in that certificate. Savings Directive Meaning of receiving agent 6. A receiving agent is an entity – (a) which is a residual entity; (b) is established in the United Kingdom; and (c) to a payment is made for the benefit of a by a person savings income relevant payee established in a member State or in a territory with which arrangements have been made in the course of his business or profession. Meaning of relevant (1) The shall regard a person as a relevant payee if he is an individual 7. agent – (a) in and resident a prescribed territory; (b) who has received a payment or for whom a payment has savings income savings income been secured, unless he provides evidence to the that the payment is not received or secured for his own agent benefit because of one of the reasons listed in paragraph (2). (2) The reasons referred to in paragraph (1) are that the individual –
5. (1) An entity established in the United Kingdom may obtain a certificate to the effect that it is to be treated as a UCITS authorised in accordance with the UCITS Directive for the purposes of the Savings Directive in accordance with this regulation. (2) A notice requesting the issue of a certificate shall be given to Revenue and Customs by or on behalf of the entity. (3) The notice shall include the following information – (a) the name and address of the entity; (b) where the notice is given on behalf of the entity, the name, address and position of the person giving notice; (c) a statement that – (i) the entity is established in the United Kingdom; (ii) the entity is not a person; (iii) the entity‘s profits are not under the general arrangements for business taxation; (iv) the entity is not a UCITS authorised in accordance with the UCITS Directive; and (v) the entity elects to be treated as if it were a UCITS authorised in accordance with the UCITS Directive for the purposes of the Savings Directive; and (d) a signed and dated declaration by the person giving notice to the effect that it is to the best of his knowledge correct and complete. (4) Revenue and Customs will issue a certificate to that entity confirming that it is to be treated as if it were a UCITS authorised in accordance with the UCITS Directive for the purposes of the Savings Directive and that certificate shall have effect from the date specified in that certificate. Meaning of receiving agent 6. A receiving agent is an entity – (a) which is a residual entity; (b) is established in the United Kingdom; and (c) to a savings income payment is made for the benefit of a relevant payee by a person established in a member State or in a territory with which arrangements have been made in the course of his business or profession. Meaning of relevant 7. (1) The agent shall regard a person as a relevant payee if he is an individual – (a) resident in a prescribed territory; and (b) who has received a savings income payment or for whom a savings income payment has been secured, unless he provides evidence to the agent that the payment is not received or secured for his own benefit because of one of the reasons listed in paragraph (2). (2) The reasons referred to in paragraph (1) are that the individual –
30_RSIIR_2008.docx