OpenLegislation

Regulation 10 Interpretation of Part IV

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

In this part of these Regulations–

  • “dividend manufacturer” means any person who–

    1. (a)

      is a dividend manufacturer in relation to whom subsection (1) of section 737 applies, and

    2. (b)

      makes a payment of a manufactured dividend in respect of United Kingdom securities;

  • “manufactured dividend” means any payment which is a manufactured dividend in respect of United Kingdom securities in relation to which subsection (1) of section 737 applies, other than one which is such a payment by virtue of the provisions of subsection (6) of that section for treating references to a periodical payment of interest as including references to a qualifying distribution or a dividend which is not a qualifying distribution;

  • “qualifying dividend manufacturer” means a dividend manufacturer who–

    1. (a)

      carries on a business which from time to time involves a manufactured dividend being paid by that person to another, and

    2. (b)

      is capable, whether by reason of being a market maker in relation to United Kingdom securities or otherwise, of making a payment of a manufactured dividend which is an approved manufactured payment.