Artikel 3

1. For the purposes of this Agreement, unless the context otherwise requires:
a) the term “a Contracting Party” means the Netherlands or Bermuda, as the context requires; the term “Contracting Parties” means Bermuda and the Netherlands;
b) the term “Bermuda” means the Islands of Bermuda including the territorial sea adjacent to those islands, in accordance with international law;
c) the term “the Netherlands” means the part of the Kingdom of the Netherlands that is situated in Europe, including its territorial sea, and any area beyond the territorial sea within which the Netherlands, in accordance with international law, exercises jurisdiction or sovereign rights;
d) the term “international traffic” means any transport by a ship or aircraft operated by an enterprise that has its place of effective management in a Contracting Party, except when the ship or aircraft is operated solely between places in the other Contracting Party;
e) the term “enterprise” applies to the carrying on of any business;
f) the term “competent authority” means: (i) in the Netherlands the Minister of Finance or his authorised representative;
(ii) in the case of Bermuda, the Minister of Finance or an authorised representative of the Minister.
(i) in the Netherlands the Minister of Finance or his authorised representative;
(ii) in the case of Bermuda, the Minister of Finance or an authorised representative of the Minister.
2. As regards the application of the 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 for the purposes of the taxes to which the Agreement applies, any meaning under the applicable tax laws of that Party prevailing over a meaning given to the term under other laws of that Party.