based there could buy and sell freely on behalf of clients throughout
the OECD area; banks wanting to lend money abroad or enterprises
interested in issuing securities in OECD countries could all stand to
gain.
For example, the French recently announced that they will now
allow OECD nationals to issue or introduce securities on the French
stock exchange on the same basis as French and EC Citizens.
have recently been extended to cover cross-border financial
operations, which could make them even more attractive to companies or
individuals based in UK territories.
The Codes
"
3.
There is also a further practical benefit from those OECD
countries who discriminate in their laws, rules or administrative
practice in favour of the OECD. Denmark's mortgage law, for example,
allows for grant loans for the construction of property within the
territories affiliated to the OECD, and the Japanese have easier rules
for institutions from the OECD area seeking to sell securities in
Japan than for those originating outside the OECD.
4. A number of OECD countries apply special rules on the movement of
capital to tax-havens. If these tax-havens were to join the OECD,
they could ensure (under the standstill obligation of the Codes) that
the OECD countries concerned did not tighten these rules, and could
indeed press for their relaxation.