text: **EXPLANATORY NOTE**
  
  *(This note is not part of the Regulations)*
  
  The Regulations amend the International Tax Compliance Regulations 2015 (“the principal 
  Regulations”) which give effect to agreements and arrangements reached between the United 
  Kingdom and other jurisdictions to improve international tax compliance. 
  
  Regulation 2(2) extends the application of the principal Regulations to arrangements entered into 
  by the United Kingdom for the exchange of financial account information with other jurisdictions 
  up to 19th April 2020, the date before the Regulations are made. 
  
  Regulation 2(5) omits various accounts from the category of excluded accounts. Regulation 
  2(4)(b) amends the definitions of “new account” and “pre-existing account” in relation to those 