Part 6: Administration and enforcement Section 50: International agreements to improve compliance: client notification Details of the section
Subsection (1) amends section 222 of the Finance Act 2013.
	Subsections (2) and (3) extend section 222so that client notification obligations can be imposed on financial institutions and tax advisers.
	New subsection (2A) defines "client notification obligation" as an obligation for financial institutions and tax advisers to give clients specified information.
	New subsection (2B) allows regulations to prescribe how and when the specified information has to be provided. It also allows them to require parties under the control of financial institutions and tax advisers to give specified information.
	Subsection (4) of section 222 is extended so as to provide definitions of the terms "client", "control" and "relevant person".
	Subsection (5) defines ‘client’, ‘control’ and ‘relevant person’.