The Board of Directors of the DIFCA, in the exercise of the powers conferred on them by Article 9 of the Common Reporting Standard Law, hereby makes these Regulations.
These Regulations include any annexes thereto and may be cited as the Common Reporting Standard Regulations 2018.
2. These Regulations apply to:
a. any Reporting Financial Institution subject to the supervision of the Relevant Authority under the Law;
b. any Account Holder of a Reportable Account held with a Reporting Financial Institution subject to the supervision of the Relevant Authority under the Law; and
c. any other person to whom a provision is specified to apply.
3. Defined terms are identified throughout these Regulations (inclusive of those in Section VIII) by the capitalisation of the initial letter of a word or phrase. Any capitalised term not otherwise defined in these Regulations or Schedule 1 to the Law will have the meaning as set forth in the Common Reporting Standard or, failing that, the meaning it has under the applicable laws of the DIFC at that time.
4. For the purpose of the Law and these Regulations, any explanato...