(1) In this Chapter -
"paying agent", in relation to any interest payment, means a person who in the course of the person's business or profession carried on in the State makes the interest payment to, or secures the interest payment for, the immediate benefit of a beneficial owner and includes, in particular, a residual entity but only as respects a deemed interest payment, a Minister of the Government and any agency or body established by statute;
"residual entity", in relation to any interest payment, means a person or undertaking established in the State or in a relevant territory to which the interest payment is made for the benefit of a beneficial owner or for which the interest payment is secured for the benefit of a beneficial owner, unless the person making the payment is satisfied on the basis of evidence produced by the person or the undertaking that subsection (2) applies to that person or that undertaking.
(2) This subsection applies to a person or undertaking which -
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