Article 31 - Termination - Cyprus (Old - Effective upto 31-3-2017)

Article 31: Termination - 1. This Agreement shall remain in force indefinitely but either of the Contracting States may on or before the thirtieth day of June in any calendar year beginning after the expiration of a period of five years from the date of its entry into force, give the other Contracting State through diplomatic channels, written notice of termination and, in such event, this Agreement shall cease to have effect : (a) in India, in respect of income arising in any fiscal year beginning on or after the first day of April next following the calendar year in which the notice is given and in respect of capital which is held at the expiry of any fiscal year beginning on or after the first day of April next following the calendar year in which the notice of termination is given; and (b) in Cyprus, in respect of income arising in any fiscal year beginning on or after the first day of January next following the calendar year in which the notice is given and in respect of capital which is held at the expiry of any fiscal year next following the calendar year in which the notice of termination is given. In witness whereof the undersigned, being duly authorised thereto, have signed the present Agreement. Done in duplicate at Nicosia, this 13th day of June, one thousand nine hundred and ninety-four in English and Hindi both texts being equally authentic. In case of divergence between the two texts the English text shall be the operative one. Sd Sd For the Government of the Republic of India