The Double Taxation Relief (Taxes on Income) (Norway) Order 2000

Article 35 TERMINATION

(1) This Convention shall remain in force until terminated by one of the Contracting States. Either Contracting State may terminate this Convention, through diplomatic channels, by giving notice of termination at least six months before the end of any calendar year beginning after the expiry of five years from the date of entry into force of this Convention. In such event, this Convention shall cease to have effect:

(a) in the United Kingdom:

(i) in respect of income tax and capital gains tax, for any year of assessment beginning on or after 6th April in the calendar year next following that in which the notice is given;

(ii) in respect of corporation tax, for any financial year beginning on or after 1st April in the calendar year next following that in which the notice is given;

(iii) in respect of the petroleum revenue tax, for any chargeable period beginning on or after 1st January in the calendar year next following that in which the notice is given;

(b) in Norway:

in respect of taxes for any year of assessment chargeable on capital or income of the calendar year (including accounting periods beginning in any such year) next following that in which the notice of termination is given, and subsequent years.

(2) Notwithstanding the termination of this Convention in accordance with paragraph (1) of this Article this Convention shall in any event continue to apply to:

(a) the joint exploitation of a field referred to in Article 24 of this Convention; and

(b) the profits of a person who is a resident of Norway from the transmission of Norwegian petroleum through the Norwegian Pipeline.

(3) For the purposes of paragraph (2) of this Article the term “Norwegian petroleum” means any petroleum:

(a) extracted from fields wholly within Norway, as defined in paragraph (1)(b) of Article 3 of this Convention; or

(b) extracted from fields extending across the dividing line, as defined in paragraph (6)(c) of Article 24 of this Convention, which is attributable to licensees of the Kingdom of Norway in accordance with any agreement relating to the joint exploitation of the field.

In witness whereof the undersigned, duly authorised thereto by their respective Governments, have signed this Convention.

Done in duplicate at London this 12th day of October 2000, in the English and Norwegian languages, both texts being equally authoritative.

For the Government of the United Kingdom of Great Britain and Northern Ireland:

• Stephen C Timms

For the Government of the Kingdom of Norway:

• Tarald O Brautaset