Regulation 5 Gross payment of interest distributions

In regulation 46A (annual payments – duty to deduct income tax)^f1, in paragraph (6), for the words after “believing” to the end substitute—

“that—

(a)

the participant is not resident in the United Kingdom, or

(b)

the payment is made in respect a class of units in relation to which of the offshore marketing condition in regulation 33A is met.”.