- 1
- For the purpose of this Agreement, unless the context otherwise requires:
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- a)the term “Iceland” means Iceland and, when used in a geographical sense, means the territory of Iceland, including its territorial sea, and any area beyond the territorial sea within which Iceland, in accordance with international law, exercises jurisdiction or sovereign rights with respect to the sea bed, its subsoil and its superjacent waters, and their natural resources;
- b)the term “Aruba” means that part of the Kingdom of the Netherlands that is situated in the Caribbean area and consisting of the Island of Aruba;
- c)the term “competent authority” means:
- (i)in the case of Iceland, the Minister of Finance or the Minister’s authorised representative;
- (ii)in the case of Aruba, the Minister of Finance and Economic Affairs or an authorised representative of the Minister;
- d)the term “company” means any body corporate or any entity that is treated as a body corporate for tax purposes.
- 2
- As regards the application of this Agreement at any time by a Party, any term not defined therein shall, unless the context otherwise requires, have the meaning that it has at that time under the law of that Party, any meaning under the applicable tax laws of that Party prevailing over a meaning given to the term under other laws of that Party.
