[F161ZA(1)In this Schedule “financial institution” means—U.K.
(a)a financial institution under the CRS other than one which is such an institution because (and only because) it is an investment entity within section VIII (A)(6)(b) of the CRS, or
(b)a person who issues credit cards.
(2)In this paragraph “the CRS” means the common reporting standard for automatic exchange of financial account information developed by the Organisation for Economic Co-operation and Development, as that standard has effect from time to time.]
Textual Amendments
F1Sch. 36 para. 61ZA and cross-heading inserted (with effect in accordance with s. 126(9) of the amending Act) by Finance Act 2021 (c. 26), s. 126(4)