Singapore legislation
Regulation 17
of Income Tax (International Tax Compliance Agreements) (Common Reporting Standard) Regulations 2016
Regulation 17
Appointment of agent
Subregulation 1
A reporting Singaporean financial institution may appoint a person as the institution’s agent to carry out on its behalf its obligations under regulations 14 and 16.
Subregulation 2
The person so appointed must, upon the institution’s request, provide the institution with —
all records, documentary evidence and information that is in the agent’s possession or under the agent’s control that the agent uses to carry out the institution’s obligations mentioned in paragraph (1); and
all records, documents and information that the agent obtains in the course of carrying out the institution’s obligations mentioned in paragraph (1).
Subregulation 3
To avoid doubt, the reporting Singaporean financial institution remains responsible for any obligation that its agent carries out on its behalf.
Subregulation 4
In this regulation, “documentary evidence” has the same meaning as “Documentary Evidence” in sub‑paragraph E(6) of section VIII of the CRS, as modified by regulation 15(12).