# The Finance Act 1991, section 58, (Commencement No. 3) Regulations 1993, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations, which come into force on 21st April 1993, are made under section 58(3) of the Finance Act 1991. Section 58 makes provision with regard to manufactured dividends and interest, and has effect in relation to payments made on or after such day as the Treasury may specify in regulations. Different days may be appointed for different provisions or different purposes. Section 58(1) makes provision for section 736A to be inserted into the Income and Corporation Taxes Act 1988 (“the 1988 Act”), and section 58(2) introduces Schedule 13 to the Finance Act 1991. Paragraph 1 of Schedule 13 inserts Schedule 23A into the 1988 Act, paragraph 2 amends Schedule 18 to the Finance Act 1986 (c. 41), and paragraphs 3 and 4 amend sections 737 and 738 respectively of the 1988 Act.
The Finance Act 1991, section 58, (Commencement No. 1) Regulations 1992 (S.I. 1992/173) specified 26th February 1992 as the relevant day for bringing into effect the inserted section 736A of, and Schedule 23A to, the 1988 Act, and the amended section 737 of that Act, in relation to manufactured dividends on United Kingdom equities as defined in Schedule 23A. They also brought into effect the amendment to Schedule 18 to the Finance Act 1986.
The Finance Act 1991, section 58 (Commencement No. 2) Regulations 1992 (S.I. 1992/1346) specified 30th June 1992 as the relevant day for bringing into effect the inserted section 736A of, and Schedule 23A to, the 1988 Act, and the amended section 737 of that Act, in relation to manufactured interest on United Kingdom securities as defined in Schedule 23A. They also brought into effect the amendment to section 738 of the 1988 Act.
These Regulations specify 22nd April 1993 as the relevant day for bringing into effect the inserted section 736A of, and Schedule 23A to, the 1988 Act, and the amended section 737 of that Act, in relation to manufactured overseas dividends on overseas securities as defined in Schedule 23A.

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Source: https://www.legislation.gov.uk/uksi/1993/933/note (the official version)
Page: https://openlegislation.uk/finance-act-1991-section-58-commencement-no-3-regulations-1993/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.