891C Returns of certain information by investment undertakings.

(1) In this section—

(a) “investment undertaking” has the same meaning as in section 739B(1) but does not include a common contractual fund within the meaning of ^[2]>section 739I^<[2][2]>section 739I or an investment limited partnership within the meaning of section 739J^<[2];

(b) “unit” and “unit holder” have the same meanings respectively as in section 739B(1);

(c) “tax reference number” has the same meaning as in section 891B(1).

(2) A reference in this section to a regulation or regulations shall be construed as a reference to a regulation or regulations made under subsection (3).

(3) The Revenue Commissioners, with the consent of the Minister for Finance, may by regulations provide that an investment undertaking be required—

(a) to make to the Revenue Commissioners a return of information relating to units of the investment undertaking concerned by reference to such date or dates, other than a date before 1 January 2012, as may be specified in the regulations, and

(b) subject to subsection (5)(a)(vi), to include in any such return the tax reference numbers of the unit holders at that time.

(4) Information in relation to units shall not be included in a return to be made under regulations if information in relation to such units is included or would be liable to be included in a return made in accordance with Chapter 3A.

(5) For the purposes of this section—

(a) the provisions of subsection (4) of section 891B shall apply subject to the following modifications and any other necessary modifications:

(i) in paragraph (a) by substituting ‘investment undertaking’ for ‘specified person’;

(ii) in paragraph (d) by substituting ‘the value of units’ for ‘the kind or kinds of relevant payments’;

(iii) by substituting the following for paragraph (e):

‘(e) defining, for the purposes of determining the unit holders or classes of unit holders to be included in a return to be made under regulations, the unit holders or classes of unit holders’;

(iv) by substituting the following for paragraph (f):

‘(f) determining for the purposes of including unit holders in a return to be made under regulations, the identity and place of residence or establishment of a unit holder’;

(v) in paragraph (g) by substituting ‘unit’ for ‘relevant payment’;

(vi) in paragraph (h)—

(I) by substituting the following for subparagraph (i):

‘(i) investment undertakings to obtain a tax reference number from unit holders—

(I) with whom they enter into contractual relationships, or

(II) for whom they undertake any transaction,

on or after a date specified in regulations, which shall not be earlier than the date such regulations come into force, for the purposes of including that number in a return under regulations, and’,

and

(II) in subparagraph (ii)—

(A) by substituting ‘investment undertaking’ for ‘specified person’ in each place,

(B) by substituting ‘unit holders’ for ‘customers’ in each place, and (C) by deleting ‘where the relationship or transaction may give rise to a relevant payment’,

and

(vii) in paragraph (k) by substituting ‘units and the unit holders’ for ‘relevant payments and the persons to whom such payments were made’,

and

(b) the provisions of subsections (6) and (7) of section 891B shall apply subject to the modification that references in those subsections to ‘person’, ‘relevant person’ or ‘specified person’, as the case may be, shall be construed, where the context admits, as references to ‘investment undertaking’.

(6) Every regulation made shall be laid before Dáil Éireann as soon as may be after it is made and, if a resolution annulling the regulation is passed by Dáil Éireann within the next 21 days on which Dáil Éireann has sat after the regulation is laid before it, the regulation shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.