This Chapter, other than sections 898L, 898M and 898O, shall cease to have effect as respects an interest payment made to or secured for a person on or after 1 January 2016 who is -
(a) resident in a Member State, or
(b) resident in a territory with which arrangements were made and such territory is a reportable jurisdiction within the meaning of Section VIII of the standard, as defined in section 891F.