Clause 63

by deleting the definition of “competent authority” in subsection (1) and substituting the following definitions:“ “competent authority”, in relation to a prescribed arrangement, means a person or an authority whom the Comptroller is satisfied is authorised to make a request to the Comptroller for information —

if it is an avoidance of double taxation arrangement, under the EOI provision of the arrangement; or

if it is an EOI arrangement, under the provisions of the arrangement;“exchange of information arrangement” or “EOI arrangement” means an arrangement having effect under section 105BA;”;

by deleting the definitions of “prescribed arrangement” and “tax position” in subsection (1) and substituting the following definitions:“ “prescribed arrangement” means —

an avoidance of double taxation arrangement with an EOI provision; or

an EOI arrangement,that is declared by the Minister, by an order under section 105C(1), as a prescribed arrangement;“tax position”, in relation to a person, means the person’s position —

as regards any tax —

of the country with whose government the avoidance of double taxation arrangement or EOI arrangement in question was made; and

that is covered by the EOI provision of the avoidance of double taxation arrangement or by the EOI arrangement;

as regards —

past, present and future liability to pay any tax referred to in paragraph (a);

penalties, interest and other amounts that have been paid, or are or may be payable, by or to the person in connection with any such tax; and

claims, elections, applications and notices that have been or may be made or given in connection with any such tax.”;

by deleting the word “References” in subsection (2) and substituting the words “A reference”;

by deleting the word “include” in subsection (2) and substituting the words “includes a reference to”;

by deleting the word “References” in subsection (3) and substituting the words “A reference”;

by deleting the word “are” in subsection (3) and substituting the words “is a reference”; and

by inserting, immediately after subsection (3), the following subsection:“(4) For the avoidance of doubt, the reference to tax in the definition of “tax position” in subsection (1) is not limited to income tax or tax of a similar character.”.