635. Savings income: EU obligations and international arrangements.

The Treasury may make regulations for implementing and for dealing with matters arising out of or related to: (1) any EU obligation created with a view to ensuring the effective taxation of savings income under the law of the United Kingdom and the laws of the other member states; and (2) any arrangements made with a territory other than a member state with a view to ensuring the effective taxation of savings income under the law of the United Kingdom and the law of the other territory