Regulation 4 Amendment of regulation 48 (general)

Amend regulation 48 (general)^f1 as follows.

In paragraph (2)(b) for “income tax at the basic rate” substitute “tax at a rate equal to the basic rate of income tax”.

After paragraph (2B) insert—

“(2C)

Regulation 48A makes provision in relation to the unfranked part of the dividend distribution treated as an annual payment under paragraph (2)(a) and regulation 48B makes provision in relation to the tax treated as deducted under paragraph (2)(b).”.