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

(a) by substituting the following for subsection (1):

"(1) In this section -

'constituent entity', 'MNE group', 'qualifying competent authority agreement', 'surrogate parent entity', 'systemic failure' and 'ultimate parent entity' have the meanings given to them respectively by Article 1 of the OECD model legislation;

'competent authority' means a competent authority for the purposes of a qualifying competent authority agreement;

'country-by-country report', in relation to an MNE group, means a report that contains the information set out in subsection (4);

'domestic constituent entity' means a constituent entity, that is resident for the purposes of tax in the State, but does not include -

(a) an ultimate parent entity,

(b) a surrogate parent entity, or

(c) an EU designated entity;

'equivalent country-by-country report' means a country-by-country report but only to the extent the information required to be included in that report is within the possession of, or is obtained or acquired by, a domestic constituent entity;

'EU designated entity' means a constituent entity of an MNE group, not being an ultimate parent entity or surrogate parent entity, that -

(a) is resident in a Member State for tax purposes, and