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Article 3 General Definitions 1. For the purposes of this Convention, unless the context otherwise requires: a) the term “Australia”, when used in a geographical sense, excludes all external territories other than: (i) the Territory of Norfolk Island; (ii) the Territory of Christmas Island; (iii) the Territory of Cocos (Keeling) Islands; (iv) the Territory of Ashmore and Cartier Islands; (v) the Territory of Heard Island and McDonald Islands; and (vi) the Coral Sea Islands Territory, and includes any area adjacent to the territorial limits of Australia (including the Territories specified in this subparagraph) in respect of which there is for the time being in force, consistently with international law, a law of Australia dealing with the exploration for or exploitation of any of the natural resources of the exclusive economic zone or the seabed and subsoil of the continental shelf; b) the term “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; c) the term “business” includes the performance of professional services and of other activities of an independent character; d) the term “company” means any body corporate or any entity that is treated as a body corporate for tax purposes; e) the term “competent authority” means, in the case of Australia, the Commissioner of Taxation or an authorised representative of the Commissioner and, in the case of New Zealand, the Commissioner of Inland Revenue or an authorised representative of the Commissioner; f) the term “enterprise” applies to the carrying on of any business; g) the terms “enterprise of a Contracting State” and “enterprise of the other Contracting State” mean respectively an enterprise carried on by a resident of a Contracting State and an enterprise carried on by a resident of the other Contracting State; h) the term “international traffic” means any transport by a ship or aircraft operated by an enterprise of a Contracting State, except when the ship or aircraft is operated solely between places in the other Contracting State; i) the term “national”, in relation to a Contracting State, means: (i) any individual possessing the nationality or citizenship of that Contracting State; and (ii) any company, partnership or association deriving its status as such from the laws in force in that Contracting State; j) the term “person” includes an individual, a trust, a partnership, a company and any other body of persons; k) the term “tax” means Australian tax or New Zealand tax as the context requires, but does not include any penalty or interest imposed under the law of either Contracting State relating to its tax; l) the term “recognised stock exchange” means: (i) the Australian Securities Exchange and any other Australian stock exchange recognised as such under Australian law; (ii) the securities markets (other than the New Zealand Debt Market) operated by the New Zealand Exchange Limited; and (iii) any other stock exchange agreed upon by the competent authorities; and m) the term “managed investment trust” means a trust that is a managed investment trust for the purposes of Australian tax. 2. For the purposes of Articles 5 and 6, the term “natural resources” means naturally‑occurring deposits or sources of materials and substances, such as minerals, oils, gas and water. The term also includes naturally‑occurring forests and fish. 3. As regards the application of the Convention at any time by a Contracting State, any term not defined therein shall, unless the context otherwise requires, have the meaning that it has at that time under the laws of that State concerning the taxes to which the Convention applies, any meaning under the applicable tax laws of that State prevailing over a meaning given to the term under other laws of that State. 4. For the purposes of Articles 10, 11 and 12, dividends, interest or royalties arising in a Contracting State and derived by or through a trust shall be deemed to be beneficially owned by a resident of the other Contracting State where such income is subject to tax in that other State in the hands of a trustee of that trust.