Section 3Part 1 — Preliminary
Implementation
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This Act shall apply for the purpose of giving effect to the terms of a scheduled Agreement for the provision of information for tax purposes including the automatic exchange of information and including for the purposes of any proceedings taken by Parties or by any persons acting on their behalf, connected with, arising from, related to, or resulting from those tax purposes.
Nothing in this Act shall require the provision of information under a scheduled Agreement for tax purposes that arose prior to the date of commencement of this Act, except where the terms of a scheduled Agreement otherwise so provide.
A scheduled Agreement shall, for such period as is specified in the Agreement, have legal effect in the Islands.
Repealed by section 3(b) of Tax Information Authority (Amendment) Act, 2012 [Law 11 of 2012].
The Cabinet may by order subject to affirmative resolution —
add a Schedule to this Act for the purpose of setting out and giving effect to an agreement for the provision of information for tax purposes; or
amend, revoke or replace any such Schedule.
Repealed by section 3(c) of the Tax Information Authority (Amendment) (No.2) Act, 2014 [Law 12 of 2014].