Agreement in effect definition

Agreement in effect means, in respect of any two Competent Authorities, that both Competent Authorities have indicated their intention to automatically exchange information with each other and have satisfied the other conditions set out in subparagraph 2.1. of Section 7. The Competent Authorities for which this Agreement is in effect are listed in Annex E.

Agreement in effect means, in respect of any two Competent Authorities, that both Competent Authorities have provided notification to the Co-ordinating Body Secretariat under paragraph 1 of Section 7, including listing the other Competent Authority’s Jurisdiction pursuant to subparagraph 1g) of Section 7. A list of Competent Authorities between which this Agreement is in effect is to be published on the OECD Website.

Examples of Agreement in effect in a sentence

Pursuant to the provisions of Articles 6 and 22 of the Convention and subject to the applicable Mandatory Disclosure Rules, each Competent Authority will exchange with the Competent Authority(ies) of the Jurisdiction(s) where the Reportable Taxpayer is resident for tax purposes, with respect to which it has this Agreement in effect, on an automatic basis the information obtained pursuant to such rules and specified in paragraph 3.
The Co-ordinating Body Secretariat will maintain a list that will be published on the OECD website of the Competent Authorities that have signed the Agreement and between which Competent Authorities this is an Agreement in effect.
Notwithstanding paragraph 1, information is only required to be exchanged as from the date on which both Competent Authorities have this Agreement in effect and their respective Jurisdictions have Mandatory Disclosure Rules in effect.
The Co-ordinating Body Secretariat will notify all Competent Authorities with respect to which this is an Agreement in effect with the first mentioned Competent Authority.
This Agreement may be amended by consensus by written agreement of all of the Competent Authorities that have the Agreement in effect.