# The Montserrat Reporting of Savings Income Information Order 2005, Article 7: Meaning of relevant payee


(1) The agent shall regard a person as a relevant payee if he is an individual—
(a) resident in a member State; and
(b) who has received a savings income payment or for whom a savings income payment has been secured,
unless he provides evidence to the agent that the payment is not received or secured for his own benefit because of one of the reasons listed in paragraph (2).
(2) The reasons referred to in paragraph (1) are that the individual—
(a) is acting as a paying agent or an economic operator;
(b) acts on behalf of a residual entity;
(c) acts on behalf of an entity—
(i) which is a legal person;
(ii) the profits of which are taxed under the general arrangements for business taxation;
(iii) which is a UCITS authorised in accordance with the European UCITS Directive;
(iv) which is an undertaking for collective investments established in Montserrat which is equivalent to a UCITS authorised in accordance with the European UCITS Directive;
(v) which is treated as being an authorised UCITS in accordance with the European UCITS Directive for the purposes of the European Savings Directive by virtue of Article 5(4) of this Order; or
(vi) which is a residual entity resident in Montserrat which is treated by the Inland Revenue Department as being equivalent to a UCITS authorised in accordance with the European UCITS Directive;
(d) acts on behalf of another individual for whose benefit the payment is received or secured.
(3) An individual who provides evidence that he is acting on behalf of a residual entity must in addition provide the name and address of that residual entity to the agent.
(4) An individual who provides evidence that he acts on behalf of another individual must in addition provide the agent with the name and address, and where appropriate the tax identification number or date and place of birth, of that individual. The individual providing the evidence must obtain and verify this information in accordance with article 9.
(5) If the agent has information, which suggests that the individual who receives a savings income payment or for whom a savings income payment is secured may not be the relevant payee for the reason referred to in paragraph (2)(d), then paragraph (6) applies.
(6) The agent must take reasonable steps to establish who is the relevant payee and if the agent is unable to identify the relevant payee, he shall treat the individual who receives a savings income payment or for whom a savings income payment is secured as the relevant payee.

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Source: https://www.legislation.gov.uk/uksi/2005/1466/article/7 (the official version)
Page: https://openlegislation.uk/montserrat-reporting-of-savings-income-information-order-2005/article-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.