Article 31. Entry into force

The proposed convention will enter into force 2 months following the ex­ change of the instruments of ratifica­ tion. It will become effective generally for taxable years beginning on or after January 1, 1971. Reductions in U.S. withholding taxes under the proposed convention generally will apply to amounts received on or after the date the proposed convention enters into force. When the proposed convention enters into effect, the existing conven­ tion which was signed on June 13,

1949, and which was modified and supplemented on July 10, 1958, will terminate.