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Article 4 Meaning of paying agent

Original text. Later amendments are not shown.

A paying agent is a person who—

(a)

is established in Montserrat;

(b)

makes savings income payments in the course of his business or profession; and

(c)

makes those payments—

(i)

for the immediate benefit of a relevant payee; or

(ii)

to a residual entity established in a member State.

Here a “person” includes any officer in any public office or in any government department and any savings income payments made by such a person will be treated as if the payment were made in the course of that person’s business or profession.