(Section 2)
1. Application
(a) The provisions of the Convention incorporated in Schedule 1 to this Order shall apply as modified below—
(i) as if the Contracting Parties were Saint Lucia and the Government of Norway; and as if the tax concerned in the case of Saint Lucia were Income Tax;
(ii) as if references to the date of signature were references to the 18th day of May, 1955.
(b) The extension shall have effect in Saint Lucia as respects tax for the year of assessment 1955 and for subsequent years of assessment, and will have effect in Norway – as respects Norwegian tax for taxable years beginning on or after 1st January, 1954.
(c) The extension shall continue in effect indefinitely but may be terminated as respects Saint Lucia by written notice of termination given on or before the 30th June in any calendar year not earlier than the year 1957 by either of the Contracting Parties to the Convention to the other Contracting Party through the diplomatic channel and in such event the extension shall cease to have effect in Saint Lucia as respects tax for the year of assessment beginning in the calendar year next following the date of such notice and for subsequent years of assessment, and will cease to have effect in Norway as respects Norwegian tax for the taxable years beginning on or after 1st January in the calendar year in which the notice is given.
2. Modifications
(a) In article VI(1) of the Convention the words “shall be exempt from United Kingdom surtax” shall be understood for the purposes of this extension as though they read “is not liable to tax in the territory at a rate in excess of the rate applicable to a company”.
(b)
(i) In Article VII all references to interest is considered to be deleted; and
(i) in paragraph 2 of Article XVI references to income (except in the phrase “total income”) is considered not to include interest.