The United Kingdom shall be authorised to conclude agreements with the Bailiwick of Jersey, the Bailiwick of Guernsey and the Isle of Man respectively, to the effect that the transfers of funds between the Bailiwick of Jersey, the Bailiwick of Guernsey, the Isle of Man respectively and the United Kingdom are treated as transfers of funds within the United Kingdom for the purposes of Regulation (EC) No 1781/2006.