(1) Section 891H of the Principal Act is amended -

(a) in subsection (1) -

(i) by the substitution of "'constituent entity', 'consolidated financial statements', 'MNE group'," for "'constituent entity', 'MNE group',",

(ii) by the substitution of the following definition for the definition of "country-by-country report":

"'country-by-country report', in relation to an MNE group, means a report that contains the information set out in subsection (4) and that has been prepared in accordance with the OECD Report of 2015 and the OECD CbCR Guidance;",

and

(iii) by the insertion of the following definitions:

"'OECD CbCR Guidance' means the document entitled OECD (2024), Guidance on the Implementation of Country-by-Country Reporting: BEPS Action 13, OECD, Paris, published by the OECD in May 2024;