PART 2PAYMENTS OF INTEREST IN RELATION TO RELEVANT INVESTMENTS
Prescribed form of a certificate8
1
A certificate must be—
a
in writing, signed by a prescribed person, or
b
if not in writing, recorded in writing by the relevant financial institution on behalf of a prescribed person.
2
If the relevant financial institution operates a record system under which the original certificate is not retained, the relevant financial institution must make a record of the certificate.
3
Where paragraph (1)(b) or (2) applies—
a
a copy of the record of the certificate must be sent by the relevant financial institution to the prescribed person within 30 days of that record being made;
b
the prescribed person must notify the relevant financial institution of any corrections required within 30 days from the date the copy is sent; and
c
the relevant financial institution must incorporate any such corrections in a revised record which must be sent to the prescribed person as soon as possible.
4
A certificate shall be regarded as being in writing if it was supplied—
a
by telephonic facsimile transmission; or
b
by electronic communication containing an electronic signature of the prescribed person.
5
A certificate or a record of a certificate must be retained by a relevant financial institution in such manner as may be approved by the Commissioners for two years after the relevant financial institution has ceased to pay interest without deduction of a sum representing income tax in relation to a relevant investment.