{
  "url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-3/paragraph-1",
  "json_url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-3/paragraph-1.json",
  "legislation": "ukpga/1988/1",
  "legislation_title": "Income and Corporation Taxes Act 1988",
  "legislation_url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988",
  "path": "schedule/3/paragraph/1",
  "kind": "paragraph",
  "number": "1",
  "heading": null,
  "text": "The Bank of England and the Bank of Ireland as respects the dividends and the profits attached thereto payable to them out of the public revenue of the United Kingdom, or payable out of any public revenue and entrusted to them for payment and distribution, and the National Debt Commissioners, as respects the dividends payable by them or of which they have the distribution, shall, when any payment becomes due, deliver to the Board true accounts, in books provided for the purpose, of—\n(a) the amounts of the dividends and profits attached thereto payable to the Bank, and\n(b) all dividends entrusted to the Bank or the National Debt Commissioners for payment to the persons entitled thereto, and\n(c) the amount of income tax chargeable thereon at the lower rate in force at the time of payment, without any other deduction than is allowed by the Income Tax Acts.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in Sch. 3 para. 1(c) substituted (with effect in accordance with Sch. 6 para. 25(2) of the amending Act) by Finance Act 1996 (c. 8), s. 73(4), Sch. 6 para. 25(1)(a)"
    },
    {
      "type": "M",
      "label": "M1",
      "text": "Source—1970 Sch.5 1; 1971 Sch.6 80"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "See s.656 ante—purchased life annuities."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1988/1/schedule/3/paragraph/1",
    "retrieved_at": "2026-10-29T09:49:54.309394+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}