Clause 9

by deleting subsection (1) and substituting the following subsection:“(1) The Minister may make regulations for, or in connection with, giving effect to or enabling effect to be given to —

an international tax compliance agreement; or

any future competent authority agreement which may be declared as an international tax compliance agreement under section 105K(1).”;

by deleting paragraph (c) of subsection (2) and substituting the following paragraph:“(c)impose on a person —

audit requirements for the purpose of determining the extent of compliance by the person with the regulations made under this section (including requiring the person’s internal auditor or appointing another person to carry out an audit, and report the results of the audit to the Comptroller);

due diligence requirements;

registration and other requirements; and

a requirement that the person inform the Comptroller if the person wishes to authorise another person to perform any requirement under section 105L(1) or sub‑paragraphs (i), (ii) and (iii) on the person’s behalf,being requirements that —

are required or permitted to be imposed under an international tax compliance agreement on any person to whom the agreement applies; or

may facilitate the implementation of any future competent authority agreement which may be declared as an international tax compliance agreement under section 105K(1);”; and

by deleting the word “and” at the end of paragraph (ca) of subsection (2), and by inserting immediately thereafter the following paragraph:“(cb)enable the Comptroller to appoint another person to carry out an audit for the purpose of determining the extent of compliance by a person with the regulations made under this section; and”.