Interpretation

In this Order, unless the context otherwise requires“Agreement” means the Agreement between the Government of Belize and the Government of Australia for the Exchange of Information with respect to taxes, signed on the 31st March, 2010, as set out in the Schedule hereto; “authorised representative” of the Minister means the Financial Secretary or the Director General of the International Financial Services Commission, appointed pursuant to section 8 of the International Financial Services Commission Act; CAP. 272. “competent authority” means in the case of Belize the Minister or the Financial Secretary; and in the case of Australia, the Commissioner of Taxation or his authorised representative; “days” means calendar days; “IFS Practitioner” means any person or entity licensed by the International Financial Services Commission to carry on the business of ‘international financial services’ as that term is defined in section 2 of the International Financial Services Commission Act; “financial institution” means bank or financial institution as defined in the Banks and Financial Institution Act or the International Banking Act, and includes brokerage firms and insurance companies; “Minister” means the Minister of Finance; “reporting entity” shall have the meaning assigned to it in section 2 of the Money Laundering and Terrorism (Prevention) Act, 2008; Income and Business Tax 113 “supervisory authority” shall have the meaning assigned to it in section 2 of the Money Laundering and Terrorism (Prevention) Act. CAP.104.