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Regulation 9 Modification of subsection (5A)

Original text. Later amendments are not shown.

(1)

In any case where—

(a)

a dividend manufacturer is a member in relation to Tradepoint and a clearing participant, and

(b)

the manufactured dividend paid by the dividend manufacturer is not an approved manufactured dividend,

subsection (5A)f1 shall apply with the modification prescribed by paragraph (2) below.

(2)

Subsection (5A) shall apply as if the reference in that subsection to the amount in respect of which relief is not to be given included a reference to the net amount of the manufactured dividend after deduction of tax pursuant to subsection (1).

Annotations

Footnotes

f1

Subsection (5A) of section 737 was substituted by paragraph 3(2) of Schedule 13 to the Finance Act 1991.