Article 4 - Definitions - Guernsey

Article 4 Definitions 1. For the purposes of this Agreement, unless otherwise defined: ( a ) India means the territory of India and includes the territorial sea and airspace above it, as well as any other maritime zone in which India has sovereign rights, other rights and jurisdiction, according to the Indian law and in accordance with international law, including the U.N. Convention on the Law of the Sea; ( b ) Guernsey means Guernsey, Alderney and Herm, including the territorial sea adjacent to those islands in accordance with international law; ( c ) collective investment fund or scheme means any pooled investment vehicle, irrespective of legal form; ( d ) company means any body corporate or any entity that is treated as a body corporate for tax purposes; ( e ) competent authority means ( i ) in the case of India, the Finance Minister, Government of India, or its authorized representative; ( ii ) in the case of Guernsey, the Director of Income-tax or his delegate; ( f ) criminal tax matters means tax matters involving intentional conduct whether before or after the entry into force of this Agreement which is liable to prosecution under the criminal laws or the laws relating to taxes covered by this Agreement of the requesting Party; ( g ) information means any fact, statement, document or record in whatever form; ( h ) information gathering measures means laws and administrative or judicial procedures that enable a requested Party to obtain and provide the requested information; ( i ) person includes an individual, a company, a body of persons and any other entity which is treated as a taxable unit under the taxation laws in force in the respective Contracting Parties; ( j ) principal class of shares means the class or classes of shares representing a majority of the voting power and value of the company; ( k ) public collective investment fund or scheme means any collective investment fund or scheme provided the units, shares or other interests in the fund or scheme can be readily purchased, sold or redeemed by the public. Units, shares or other interests in the fund or scheme can be readily purchased, sold or redeemed by the public if the purchase, sale or redemption is not implicitly or explicitly restricted to a limited group of investors; ( l ) publicly traded company means any company whose principal class of shares is listed on a recognised stock exchange provided its listed shares can be readily purchased or sold by the public. Shares can be purchased or sold by the public if the purchase or sale of shares is not implicitly or explicitly restricted to a limited group of investors; ( m ) recognised stock exchange means ( i ) in India, the National Stock Exchange, the Bombay Stock Exchange, and any other stock exchange recognised by the Securities and Exchange Board of India; ( ii ) in Guernsey, the Channel Islands Stock Exchange; and ( iii ) any other stock exchange which the competent authorities agree to recognise for the purposes of this Agreement; ( n ) requested Party means the Contracting Party which is requested to provide information, or which has provided information; ( o ) requesting Party means the Contracting Party submitting a request for information to, or having received information from, the requested Party; ( p ) tax means any tax to which this Agreement applies. 2. As regards the application of this Agreement at any time by a Contracting Party, any term not defined therein shall, unless the context otherwise requires or the competent authorities agree to a common meaning pursuant to the provisions of Article 12 of this Agreement, have the meaning that it has at that time under the law of that Contracting Party, any meaning under the applicable tax laws of that Contracting Party prevailing over a meaning given to the term under other laws of that Contracting Party.