4. Through this Convention, the Netherlands Antilles agrees to apply the provisions of the Directive, subject to what is otherwise agreed herein, in regard of Beneficial Owners that are residents of the United Kingdom of Great Britain and Northern Ireland and the United Kingdom of Great Britain and Northern Ireland agrees to apply the Directive in regard to Beneficial Owners that are residents of the Netherlands Antilles.
The Government of the Kingdom of the Netherlands in respect of the Netherlands Antilles and the Government of the United Kingdom of Great Britain and Northern Ireland, desiring to conclude a Convention which enables savings income in the form of Interest Payments made in one of the Contracting States to Beneficial Owners who are individuals resident in the other Contracting State, to be made subject to effective taxation in accordance with the laws of the latter Contracting State, in conformity with the Directive and with the intentions of the Contracting States as laid down herein above, have agreed as follows: