1. Name

These Regulations are the AIFC Common Reporting Standard Regulations 2019.

2. Commencement

These Regulations commence on 1 July 2019.

3. Legislative authority

These Regulations are adopted by the Governor under article 4 of the Constitutional Statute and subparagraph 3) of paragraph 9 of the Management Council Resolution on AIFC Bodies.

4. Application

These Regulations apply to:

• (a) any Reporting Financial Institution subject to the supervision of the Relevant Authority under these Regulations;
• (b) any Account Holder of a Reportable Account held with a Reporting Financial Institution subject to the supervision of the Relevant Authority under these Regulations; and
• (c) any other Person to whom a provision is specified to apply.

5. Interpretation

Schedule 1 (Interpretation) contains definitions and other interpretative provisions used in these Regulations.