1.
“Guernsey”
means the islands of Guernsey, Alderney and Herm, including the territorial sea adjacent to those islands, in accordance with international law;
“New Zealand”
means the territory of New Zealand but does not include Tokelau; it also includes any area beyond the territorial sea designated under New Zealand legislation and in accordance with international law as an area in which New Zealand may exercise sovereign rights with respect to natural resources;
“collective investment fund or scheme”
means any pooled investment vehicle, irrespective of legal form. The term “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;
“company”
means any body corporate or any entity that is treated as a body corporate for tax purposes;
“competent authority”
means, in the case of New Zealand, the Commissioner of Inland Revenue or an authorised representative of the Commissioner and, in the case of Guernsey, the Director of Income Tax or the Director’s delegate;
“criminal laws”
means all criminal laws designated as such under domestic law, irrespective of whether such laws are contained in the tax laws, the criminal code or other statutes;
“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 law of the requesting Party;
“information gathering measures”
means laws and administrative or judicial procedures enabling a requested Party to obtain and provide the information requested;
“information”
means any fact, statement, document or record in whatever form;
“person”
means a natural person, a company or any other body or group of persons;
“principal class of shares”
means the class or classes of shares representing a majority of the voting power and value of the company;
“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;
“recognised stock exchange”
means any stock exchange agreed upon by the competent authorities of the Parties;
“requested Party”
means the Party to this Agreement which is requested to provide or has provided information in response to a request;
“requesting Party”
means the Party to this Agreement submitting a request for or having received information from the requested Party;
“resident of a Party”
means
(a)
in the case of New Zealand, a person who is a resident of New Zealand for the purposes of New Zealand tax; and
(b)
in the case of Guernsey, a person who is a resident of Guernsey for the purposes of Guernsey tax.
A person is not a resident of a Party if the person is liable to tax in that Party in respect only of income from sources in that Party;
“tax”
means any tax covered by this Agreement;
“transfer pricing adjustment”
means an adjustment made by the competent authority of a Party to the profits of an enterprise as a result of applying the domestic law concerning taxes referred to in Article 1 of that Party regarding transfer pricing or an equivalent form of adjustment between associated persons.