{
  "url": "https://openlegislation.uk/income-tax-unapproved-manufactured-payments-regulations-1996/regulation-2",
  "json_url": "https://openlegislation.uk/income-tax-unapproved-manufactured-payments-regulations-1996/regulation-2.json",
  "legislation": "uksi/1996/1226",
  "legislation_title": "The Income Tax (Unapproved Manufactured Payments) Regulations 1996",
  "legislation_url": "https://openlegislation.uk/income-tax-unapproved-manufactured-payments-regulations-1996",
  "path": "regulation/2",
  "kind": "regulation",
  "number": "2",
  "heading": null,
  "text": "For the definition of “unapproved manufactured payment” in paragraph 1(1) of Schedule 23A to the Income and Corporation Taxes Act 1988 there shall be substituted the following definition—\n““unapproved manufactured payment”, subject to any regulations under sub- paragraph (2) below, means—\n(a) any manufactured dividend paid in connection with an unapproved stock lending arrangement, and\n(b) any manufactured dividend not falling within paragraph (a) above which is paid in respect of United Kingdom equities by a person other than one who is—\n(i) a market maker in relation to United Kingdom equities of the kind in question, or\n(ii) in such circumstances as may be prescribed, a member, of a prescribed class or description, of a prescribed recognised investment exchange, or\n(iii) in such circumstances as may be prescribed, a prescribed recognised clearing house,\nand which is so paid otherwise than in connection with an approved stock lending arrangement;”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "The definition was previously amended by S.I. 1992/2074, regulation 2A (inserted by S.I. 1995/3221, regulation 4)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/1226/regulation/2",
    "retrieved_at": "2026-10-29T12:44:16.005926+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."
}