Examples of Competent Authority in a sentence
The U.S. Competent Authority also has the discretion to determine significant non-compliance based on failure to satisfy due diligence, reporting, withholding and other obligations with respect to a Reporting Czech Financial Institution.
Where the Czech Competent Authority elects to use IDES as an M1O2 data collection tool, the Czech Competent Authority intends to maintain Confidentiality Protections from the time information is successfully uploaded by a Reporting Czech Financial Institution or by or on behalf of a Paragraph 1.1.2 Financial Institution to IDES.
The U.S. Competent Authority intends to provide the Czech Competent Authority annually with the information necessary to identify each registered Czech Financial Institution included on the IRS FFI list.
Under Article 5(2) of the IGA, the receiving Competent Authority has the discretion to determine whether there is significant non-compliance with the obligations to obtain and exchange information described in Articles 2(2) and 4(1)(b) of the IGA with respect to a Reporting Financial Institution in the other jurisdiction.
The receiving Competent Authority may determine that certain failures constitute significant non-compliance with respect to a Reporting Financial Institution regardless of whether the failure is attributable to the providing Competent Authority or the Reporting Financial Institution.