ACT
(Acts 19 of 2016 and 9 of 2021)
Act 19 of 2016 .. in force 29 August 2016
Act 9 of 2021 .. in force 13 September 2021
ARRANGEMENT OF SECTIONS
PRELIMINARY
| 1. | Short title |
| 2. | Interpretation |
| 3. | Agreement to have the force of law |
PART 1
COMPETENT AUTHORITY
| 3A. | Competent Authority |
| 4. | Functions of the Competent Authority |
| 4A. | Delegation of functions |
| 4B. | Power to require the production of information |
| 5. | Power to enter premises to obtain information |
| 6. | Confidentiality protections |
| 7. | Immunity from suit |
PART 2
OBLIGATIONS OF REPORTING SAINT LUCIA FINANCIAL INSTITUTIONS
| 8. | Due diligence requirements |
| 9. | Payment to Non-participating Financial Institution |
| 10. | Registration |
| 11. | Return |
| 12. | Communication of confidential information |
| 13. | Amendment and correction to return |
| 14. | Records |
| 15. | Service providers |
PART 3
PENALTIES
Civil Penalty
| 16. | Penalty |
| 17. | Liability to penalty |
| 18. | Assessment of penalty |
| 19. | Enforcement of penalty |
| 20. | Right to object to penalty |
| 21. | Procedure on objection to penalty |
| 22. | Notice of appeal |
Criminal penalty
| 23. | Refusal or failure to provide information |
PART 4
MISCELLANEOUS
| 24. | Anti-avoidance |
| 25. | Amendment of Schedule |
| 26. | Regulations |
| Schedule 1 | |
| Schedule 2 | |
| Schedule 3 | |
AN ACT to make provision for authorising the enforcement of the obligations of Saint Lucia under an agreement for cooperation to facilitate the implementation of the Foreign Account Tax Compliance Act Inter-Governmental Agreement.
Commencement [29 August 2016]