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The Income Tax (Manufactured Overseas Dividends) (Amendment No. 2) Regulations 1997

S.I. 1997/2706 · Made 17 November 1997

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

INCOME TAX

Made 17th November 1997

Laid before the House of Commons 18th November 1997

Coming into force 9th December 1997

The Treasury, in exercise of the powers conferred on them by paragraphs 1(1) and 4(8) of Schedule 23A to the Income and Corporation Taxes Act 1988f1, hereby make the following Regulations:

Annotations to the whole text

Footnotes

f1

1988 c. 1. Schedule 23A was inserted by paragraph 1 of Schedule 13 to the Finance Act 1991 (c. 31). Paragraph 4(8) of Schedule 23A was amended by paragraph 28(2) of Schedule 7, and paragraph 7 of Schedule 29, to the Finance Act 1996 (c. 8). See the definition of “dividend manufacturing regulations” in paragraph 1(1) of Schedule 23A.

Contents

  1. 1Regulation 1
  2. 2Regulation 2
  3. Signature
  4. Explanatory note

1

These Regulations may be cited as the Income Tax (Manufactured Overseas Dividends) (Amendment No. 2) Regulations 1997 and shall come into force on December 1997.

2

In regulation 12 of the Income Tax (Manufactured Overseas Dividends) Regulations 1993f1—

(a)

in paragraph (2)(a) the words “subject to paragraph (3)” shall be omitted;

(b)

paragraph (3) shall be omitted.

Signature

Bob Ainsworth

Jon Owen Jones

Two of the Lords Commissioners of Her Majesty’s Treasury

17th November 1997

Explanatory note

(This note is not part of the Regulations)

These Regulations amend the Income Tax (Manufactured Overseas Dividends) Regulations 1993 (S.I. 1993/2004) by omitting paragraph (3) of regulation 12 of those Regulations. Regulation 12 relates to the tax treatment of manufactured overseas dividends paid to collecting agents that are representative of foreign dividends. Paragraph (3) of regulation 12 is rendered obsolete by the Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997 (S.I. 1997/2705) which come into force at the same time as these Regulations.