Dermot Ahern (Louth, Fianna Fail)

I move amendment No. 10:

In page 40, between lines 42 and 43, to insert the following:

"(iv) who is a tax adviser and who is also a member of a designated accountancy body, the Irish Taxation Institute or the Law Society of Ireland,".

The purpose of this amendment is to include tax advisers in section 40, which provides for reliance on other persons - that is relevant third parties - to carry out customer due diligence. The first amendment inserts a new provision into the definition of "relevant third party" of a person carrying on business as a designated person in the State to include a tax adviser who is a member of a designated accountancy body, the Irish Taxation Institute or the Law Society of Ireland. At present, these provisions include groups such as credit and financial institutions, external accountants and auditors, relevant independent legal professionals and trust or company service providers subject to certain criteria, that is membership of relevant bodies.

On further consideration of the matter, it was decided that tax advisers should also be included. The second and third amendments result from the inclusion of tax advisers and provisions dealing with persons carrying on business in another member state and persons carrying on business in a place designated under section 31. These provisions also include the other groups that I have already mentioned, namely, external accountants, auditors and legal professionals. The inclusion of tax advisers is in line with the intent of the directive. The fourth amendment is to insert text which was required in section 40(4)(a), that is, "and the relevant third party".

I commend the amendments to the House. Members may have received representations from some of the tax adviser bodies in this respect.

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