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2. This Agreement shall apply also to any identical taxes imposed after the date of signature of the Agreement

in addition to or in place of the existing taxes. This Agreement shall apply also to any substantially similar taxes

imposed after the date of signature of the Agreement in addition to or in place of the existing taxes, if the Parties

so agree. The competent authority of each Party shall notify the other of substantial changes in laws which may

affect the obligations of that Party pursuant to this Agreement.

Article 4

Definitions

1. In this Agreement:

a) The term “Portugal” when used in a geographical sense comprises the territory of the Portuguese Republic

in accordance with the international law and the Portuguese legislation, including its territorial sea, as well as

those maritime areas adjacent to the outer limit of the territorial sea, comprising the seabed and subsoil thereof,

over which the Portuguese Republic exercises sovereign rights or jurisdiction;

b) Guernsey” means Guernsey, Alderney and Herm, including the territorial sea adjacent to those islands, in

accordance with international law;

c) “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;

d) “Company” means any body corporate or any entity that is treated as a body corporate for tax purposes;

e) “Competent authority” means, in the case of Portugal, the Minister of Finance, the Director General of

Taxation (Director-Geral dos Impostos) or their authorized representative; and in the case of Guernsey, the

Director of Income Tax or his delegate;

f) “Criminal laws” means all criminal laws designated as such under domestic law, irrespective of whether

such are contained in the tax laws, the criminal code or other statutes;

g) “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 laws of the requesting Party;

h) “Information gathering measures” means laws and administrative or judicial procedures enabling the

requested Party to obtain and provide the information requested;

i) “Information” means any fact, statement, document or record in whatever form;

j) “Person” means a natural person, a company or any other body or group of persons;

k) “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;

l) “Principal class of shares” means the class or classes of shares representing a majority of the voting power

and value of the company;

m) “Recognised stock exchange” means any stock exchange agreed upon by the competent authorities of the

Parties;

n) “Requested Party” means the Party to this Agreement which is requested to provide or has provided

information in response to a request;

o) “Requesting Party” means the Party to this Agreement submitting a request for or having received

information from the requested Party;

p) “Tax” means any tax covered by this Agreement.

2. As regards the application of this Agreement at any time by a Party, 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 Party, any