The Reporting of Savings Income Information Regulations 2003

Made: 16th December 2003

Laid before the House of Commons: 17th December 2003

Coming into force in accordance with regulation 1(2)

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PART 1 — Introductory Provisions

Citation and commencement

1

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Interpretation

2

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Meaning of paying agent

3

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Meaning of residual entity

4

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Election by an entity to be treated as a UCITS

5

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Meaning of receiving agent

6

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Meaning of relevant payee

7

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Meaning of savings income

8

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PART 2 — Information to be obtained, verified and reported

Identity and residence of relevant payees

9

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Information to be reported to the Inland Revenue by paying agents making payments to relevant payees

10

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Information to be reported to the Inland Revenue by paying agents making payments to residual entities

11

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Information to be reported to the Inland Revenue by receiving agents

12

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The amount of savings income to be reported to Revenue and Customs

13

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PART 3 — Reporting the information

Paying and receiving agents to notify the Inland Revenue of reportable payments

14

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Reports by paying and receiving agents to Revenue and Customs

15

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PART 4 — Audit

Audit and related issues

16

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PART 5 — Transitional provisions

Transitional provisions – negotiable debt securities

17

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SCHEDULE — Negotiable debt securities: entities referred to in regulation 17(3)

For the purposes of regulation 17(3), an entity is “a related entity acting as a public authority or whose role is recognised by an international treaty” if it is listed in Table 1 or Table 2 below or it is situate in a third country and meets the following criteria—

• (a) the entity is clearly considered to be a public entity according to the national criteria;

• (b) such public entity is a non-market producer which administers and finances a group of activities, principally providing non-market goods and services, intended for the benefit of the community and which are effectively controlled by general government;

• (c) such public entity is a large and regular issuer of debt; and

• (d) the State concerned is able to guarantee that such public entity will not exercise early redemption in the event of gross-up clauses.

Member State	Entity
Belgium	Vlaams Gewest (Flemish Region) Région wallonne (Walloon Region) Région bruxelloise/Brussels Gewest (Brussels Region) Communauté française (French Community) Vlaamse Gemeenschap (Flemish Community) Deutschsprachige Gemeinschaft (German-speaking Community)
France	La Caisse d'amortissement de la dette sociale (CADES) (Social Debt Redemption Fund) L'Agence française de développement (AFD) (French Development Agency) Réseau Ferré de France (RFF) (French Rail Network) Caisse Nationale des Autoroutes (CNA) (National Motorways Fund) Assistance publique Hôpitaux de Paris (APHP) (Paris Hospitals Public Assistance) Charbonnages de France (CDF) (French Coal Board) Entreprise minière et chimique (EMC) (Mining and Chemicals Company)
Greece	Οργαυισμ[oacgr]ς Τηλεπικοινωνι[omega]ν Ελλ[alpha]δος (National Telecommunications Organisation) Οργαυισμ[oacgr]ς Σιδηροδρ[oacgr]μων Ελλ[alpha]δος (National Railways Organisation) Δημ[oacgr]σια Επιχε[idigr]ρηση Ηλεκτρισμο[small upsilon] (Public Electricity Company)
Italy	Regions Provinces Municipalities Cassa Depositi e Prestiti (Deposits and Loans Fund)
Portugal	Região Autónoma de Madeira (Autonomous Region of Madeira) Região Autónoma dos Açores (Autonomous Region of Azores) Municipalities
Spain	Xunta de Galicia (Regional Executive of Galacia) Junta de Andalucía (Regional Executive of Andalusia) Junta de Extremadura (Regional Executive of Extremadura) Junta de Castilla-La Mancha (Regional Executive of Castilla-La Mancha) Junta de Castilla-León (Regional Executive of Castilla-León) Gobierno Foral de Navarra (Regional Government of Navarre) Govern de les Illes Balears (Government of the Balearic Islands) Generalitat de Catalunya (Autonomous Government of Catalonia) Generalitat de Valencia (Autonomous Government of Valencia) Diputación General de Aragón (Regional Council of Aragon) Gobierno de las Islas Canarias (Government of the Canary Islands) Gobierno de Murcia (Government of Murcia) Gobierno de Madrid (Government of Madrid) Gobierno de la Comunidad Autónoma del País Vasco/Euzkadi (Government of the Autonomous Community of the Basque Country) Diputación Foral de Guipúzcoa (Regional Council of Guipúzcoa) Diputación Foral de Vizcaya/Bizkaia (Regional Council of Vizcaya) Diputación Foral de Alava (Regional Council of Alava) Ayuntamiento de Madrid (City Council of Madrid) Ayuntamiento de Barcelona (City Council of Barcelona) Cabildo Insular de Gran Canaria (Island Council of Gran Canaria) Cabildo Insular de Tenerife (Island Council of Tenerife) Instituto de Crédito Oficial (Public Credit Institution) Instituto Catalán de Finanzas (Finance Institution of Catalonia) Instituto Valenciano de Finanzas (Finance Institution of Valencia

European Bank for Reconstruction and Development European Investment Bank Asian Development Bank African Development Bank World Bank/IBRD/IMF International Finance Corporation Inter-American Development Bank Council of Europe Social Development Fund Euratom European Community Corporación Andina de Fomento (CAF) (Andean Development Corporation) Eurofima European Coal and Steel Community Nordic Investment Bank Caribbean Development Bank

Note: The provisions of regulation 17 are without prejudice to any international obligations that member States may have entered into with respect to the international entities listed in Table 2.

Signed

John Heppell — Jim Murphy — Two of the Lords Commissioners of Her Majesty’s Treasury — 2003-12-16

Explanatory note

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Footnotes

[^f00001]: 2003 c. 14.

[^f00002]: OJ No. L157, 26.06.2003, p.38.

[^f00003]: OJ No. L184, 06.07.2001, p.1, amended by Directive 2003/6/EC of the European Parliament and of the Council (OJ No. L96, 12.04.2003, p.16).

[^f00004]: OJ No. L375, 31.12.1985, p.3, amended by Council Directive 88/220/EEC (OJ No. L100, 19.04.1988, p.31), European Parliament and Council Directive 95/26/EC (OJ No. L168, 18.07.1995, p.7), European Parliament and Council Directive 2000/64/EC (OJ No. L290, 17.11.2000, p.27), European Parliament and Council Directive 2001/107/EC (OJ No. L41, 13.02.2002, p.20), European Parliament and Council Directive 2001/108/EC (OJ No. L41, 13.02.2002, p.35).

[^f00005]: 1986 c. 53.

[^f00006]: 1992 c. 12. Section 117(11) was amended by the Financial Services and Markets Act 2000 (Consequential Amendments)(Taxes) Order 2001 (S.I. 2001/3629).

[^f00007]: 1988 c. 1.

[^f00008]: S.I. 1993/1933 and S.I. 2001/3641. Both these Regulations will be revoked and replaced by the Money Laundering Regulations 2003 (S.I. 2003/3075) on 1st March 2004.

[^f00009]: 1970 c. 9. Section 100 was substituted by section 167 of the Finance Act 1989 (c. 26) and amended by the Finance Act 1990 (c. 29), the General and Special Commissioners (Amendment of Enactments) Regulations 1994 (S.I. 1994/1813), the Finance Act 1998 (c. 36) and the Finance Act 2001 (c. 9).

[^f00010]: 1970 c. 9. Sections 100A, 100B and 103 were substituted, and section 102 amended, by the Finance Act 1989 (c. 26). Section 100B was amended by the General and Special Commissioners (Amendment of Enactments) Regulations 1994 (S.I. 1994/1813), the Finance Act 1994 (c. 9) and the Finance Act 1995 (c. 4). Section 118(2) was amended by the Finance Act 1970 (c. 24) and the Finance (No. 2) Act 1987 (c. 51).

[^f00011]: 1970 c. 9. Section 17 was amended by the Finance Act 1988 (c. 36), the Finance Act 1990 (c. 29), the Finance (No.2) Act 1992 (c. 48), the Finance Act 1996 (c. 8) and the Finance Act 2000 (c. 17). Section 18 was amended by the Finance Act 1988 (c. 36), the Income and Corporation Taxes Act 1988 (c. 9), the Finance Act 1990 (c. 29) and the Finance Act 2000 (c. 17).

[^f00012]: S.I. 1990/2231, as amended by the Income Tax (Building Societies)(Dividends and Interest)(Amendment) Regulations 2001 (S.I. 2001/404).

[^f00013]: S.I. 1990/2232.

[^f00014]: S.I. 1992/14.

[^f00015]: S.I. 2003/1830.

[^f00016]: S.I. 1997/1154, as amended by the Open-ended Investment Companies (Tax)(Amendment) Regulations 2003 (S.I. 2003/1831).

[^f00017]: 1989 c. 26. Section 182(5) was amended by the Tax Credits Act 1999 (c. 10).

For the purposes of regulation 17(3), an entity is “a related entity acting as a public authority or whose role is recognised by an international treaty” if it is listed in Table 1 or Table 2 below or it is situate in a third country and meets the following criteria—

• (a) the entity is clearly considered to be a public entity according to the national criteria;

• (b) such public entity is a non-market producer which administers and finances a group of activities, principally providing non-market goods and services, intended for the benefit of the community and which are effectively controlled by general government;

• (c) such public entity is a large and regular issuer of debt; and

• (d) the State concerned is able to guarantee that such public entity will not exercise early redemption in the event of gross-up clauses.

Member State	Entity
Belgium	Vlaams Gewest (Flemish Region)Région wallonne (Walloon Region)Région bruxelloise/Brussels Gewest (Brussels Region)Communauté française (French Community)Vlaamse Gemeenschap (Flemish Community)Deutschsprachige Gemeinschaft (German-speaking Community)
Bulgaria	Общините (municipalities) Социалноосигурителни фондове (Social Security Funds)
France	La Caisse d'amortissement de la dette sociale (CADES) (Social Debt Redemption Fund)L'Agence française de développement (AFD) (French Development Agency)Réseau Ferré de France (RFF) (French Rail Network)Caisse Nationale des Autoroutes (CNA) (National Motorways Fund)Assistance publique Hôpitaux de Paris (APHP) (Paris Hospitals Public Assistance)Charbonnages de France (CDF) (French Coal Board)Entreprise minière et chimique (EMC) (Mining and Chemicals Company)
Greece	Οργαυισμός Τηλεπικοινωνιών Ελλάδος (National Telecommunications Organisation)Οργαυισμός Σιδηροδρόμων Ελλάδος (National Railways Organisation)Δημόσια Επιχείρηση Ηλεκτρισμού (Public Electricity Company)
Italy	RegionsProvincesMunicipalitiesCassa Depositi e Prestiti (Deposits and Loans Fund)
Latvia	Pavaldības (Local governments)
Poland	Gminy (Communes)Powiaty (Provinces)Województwa (Districts)Zwia˛zki gmin (Associations of Communes)Zwia˛zki powiatów (Associations of Provinces)Zwia˛zki województw (Associations of Districts)Miasto Sto̶eczne Warszawa (Capital City of Warsaw)Agencja Restrukturyzacji I Modernizacji Rolnictwa (Agency for Reconstruction and Modernisation of Agriculture)Agencja Nieruchomosci Rolnych (Agricultural Property Agency)
Portugal	Região Autónoma de Madeira (Autonomous Region of Madeira)Região Autónoma dos Açores (Autonomous Region of Azores)Municipalities
Romania	autorităţile administraţiei publice locale (local public administration authorities)
Slovakia	Mestá a Obce (Municipalities)eleznice Slovenskej republiky (Slovak Railway Company)tátny Fond Cestného Hospodártsva (State Road Management Fund)Slovenské Elektrárne (Slovak Power Plants)Vodohospodárska výstavba (Water Economy Building Company)
Spain	Xunta de Galicia (Regional Executive of Galicia)Junta de Andalucía (Regional Executive of Andalusia)Junta de Extremadura (Regional Executive of Extremadura)Junta de Castilla-La Mancha (Regional Executive of Castilla-La Mancha)Junta de Castilla-León (Regional Executive of Castilla-León)Gobierno Foral de Navarra (Regional Government of Navarre)Govern de les Illes Balears (Government of the Balearic Islands)Generalitat de Catalunya (Autonomous Government of Catalonia)Generalitat de Valencia (Autonomous Government of Valencia)Diputación General de Aragón (Regional Council of Aragon)Gobierno de las Islas Canarias (Government of the Canary Islands)Gobierno de Murcia (Government of Murcia)Gobierno de Madrid (Government of Madrid)Gobierno de la Comunidad Autónoma del País Vasco/Euzkadi (Government of the Autonomous Community of the Basque Country)Diputación Foral de Guipúzcoa (Regional Council of Guipúzcoa)Diputación Foral de Vizcaya/Bizkaia (Regional Council of Vizcaya)Diputación Foral de Alava (Regional Council of Alava)Ayuntamiento de Madrid (City Council of Madrid)Ayuntamiento de Barcelona (City Council of Barcelona)Cabildo Insular de Gran Canaria (Island Council of Gran Canaria)Cabildo Insular de Tenerife (Island Council of Tenerife)Instituto de Crédito Oficial (Public Credit Institution)Instituto Catalán de Finanzas (Finance Institution of Catalonia)Instituto Valenciano de Finanzas (Finance Institution of Valencia

Note: The provisions of regulation 17 are without prejudice to any international obligations that member States or territories with which arrangements have been made may have entered into with respect to the international entities listed in Table 2.

European Bank for Reconstruction and DevelopmentEuropean Investment BankAsian Development BankAfrican Development BankWorld Bank/IBRD/IMFInternational Finance CorporationInter-American Development BankCouncil of Europe Social Development FundEuratomEuropean CommunityCorporación Andina de Fomento (CAF) (Andean Development Corporation)EurofimaEuropean Coal and Steel CommunityNordic Investment BankCaribbean Development Bank