Artikel 1

For the purposes of this Agreement, the term:
a) ``competent authority", when applied to the contracting parties means, (i) in the case of the BVI, the Financial Secretary; and
(ii) in the case of the Kingdom of the Netherlands, The Fiscal Information and Investigation Service/Economic Investigation Service;
(i) in the case of the BVI, the Financial Secretary; and
(ii) in the case of the Kingdom of the Netherlands, The Fiscal Information and Investigation Service/Economic Investigation Service;
b) ``the Kingdom of the Netherlands" means the part of the Kingdom in Europe;
c) ``residence", in relation to a beneficial owner, means the country or territory where his permanent address is located, subject to the conditions set out in Article 7(3) of this Agreement;
d) ``UCITS" means an undertaking for collective investment in transferable securities that is recognised in accordance with the Directive of the Council of the European Union known as Council Directive 85/611/EEC of 20th December, 1985 on the co-ordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities.