Regulation 11 Amendments to regulation 10

(1)

Amend regulation 10 (matching of dividends and manufactured overseas dividends)^f1 as follows.

(2)

In paragraph (1)(b) for the words from “by reason of—” to “nil percent.” substitute “by virtue of regulation 5”.

(3)

In paragraph (2)—

(a)

after “paid” insert “to a United Kingdom recipient”;

(b)

for “recipient of the manufactured overseas dividend paid” substitute “United Kingdom recipient”.

(4)

In paragraph (3)—

(a)

after “paid” in the first place where it occurs insert “to a United Kingdom recipient”;

(b)

in sub-paragraph (a) and in sub-paragraph (b) (three times) for “paid” substitute “so paid”;

(c)

in sub-paragraph (c) for “recipient” substitute “United Kingdom recipient”.

(5)

In paragraph (4)—

(a)

after “paid” in the first place where it occurs insert “to a United Kingdom recipient”;

(b)

in sub-paragraphs (a) and (b) for “paid” substitute “so paid”;

(c)

in sub-paragraph (c) for “recipient” substitute “United Kingdom recipient”.

Annotations

f1: Regulation 10 was relevantly amended by regulation 11(b) of S.I. 1996/2643.