AI Summary of 908B. Application to High Court seeking order requiring information: associated institutions.
This section outlines the powers conferred upon authorised officers of the Revenue Commissioners regarding the examination of books, records, and other documents held by financial institutions and associated entities. An authorised officer may apply to a judge for an order compelling a financial institution to provide access to information relevant to a taxpayer's potential tax liabilities, contingent upon reasonable suspicion of non-compliance with tax provisions.
Upon judicial approval, the financial institution must comply with the order and provide necessary assistance, including access to electronic records. All hearings associated with these applications will be conducted in camera, ensuring confidentiality throughout the process.
908B. Application to High Court seeking order requiring information: associated institutions.
(1) In this section -
"the Acts" has the meaning assigned to it by section 1078(1);
"associated institution", in relation to a financial institution, means a person that -
(a) is controlled by the financial institution (within the meaning of section 432), and
(b) is not resident in the State;
"authorised officer" means an officer of the Revenue Commissioners authorised by them in writing to exercise the powers conferred by this section;
"books, records or other documents" includes -
(a) any records used in the business of an associated institution, or used in the transfer department of an associated institution acting as registrar of securities, whether -
(i) comprised in bound volume, loose-leaf binders or other loose-leaf filing system, loose-leaf ledger sheets, pages, folios or cards, or
(ii) kept on microfilm, magnetic tape or in any non-legible form (by the use of electronics or otherwise) which is capable of being reproduced in a legible form,
(b) every electronic or other automatic means, if any, by which any such thing in non-legible form is so capable of being reproduced,