# The Montserrat Reporting of Savings Income Information Order 2005, Article 5: Meaning of residual entity


(1) Subject to paragraph (2), a residual entity is an entity established in a member State or in Montserrat other than an entity—
(a) which is a legal person;
(b) the profits of which are taxed under the general arrangements for business taxation; or
(c) which is a UCITS authorised in accordance with the European UCITS Directive; or
(d) which is an undertaking for collective investments established in Montserrat and which is equivalent to a UCITS authorised in accordance with the European UCITS Directive.
(2) In paragraph (1)(a) a legal person excludes—
(a) in Finland, avoin yhtiö (Ay) and kommandiittiyhtiö (Ky)/ öppet bolag and kommanditbolag; and
(b) in Sweden, handelsbolag HB) and kommanditbolag (KB).
(3) A paying agent shall regard an entity as a residual entity unless the paying agent has reason to believe, on the basis of official evidence produced by the entity to the paying agent, that any sub-paragraph of paragraph (1) applies.
(4) An entity which presents to the paying agent or economic operator a certificate issued by the relevant territory in which that entity is established to the effect that it is to be treated as if it were a UCITS authorised in accordance with the European UCITS Directive shall be treated as such for the purposes of this article.
Here “relevant territory” means, as the case requires, a member State or Montserrat.

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Source: https://www.legislation.gov.uk/uksi/2005/1466/article/5 (the official version)
Page: https://openlegislation.uk/montserrat-reporting-of-savings-income-information-order-2005/article-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.