F18(1)Dividend manufacturing regulations may make provision for—
(a)such manufactured dividends F2. . . or manufactured overseas dividends as may be prescribed,
[F3(aa)such persons who receive, or become entitled to receive, manufactured dividends F2. . . or manufactured overseas dividends as may be prescribed,] or
(b)such dividend manufacturers F4. . . or overseas dividend manufacturers as may be prescribed,
to be treated in prescribed circumstances otherwise than as mentioned in [F5paragraphs [F62 and 4] above] for the purposes of such provisions of the [F7Corporation] Tax Acts as may be prescribed.
[F8(1A)Dividend manufacturing regulations may provide, in relation to prescribed cases where a person makes or receives the payment of any amount representative of an overseas dividend, or is treated for any purposes of this Schedule or such regulations as a person making or receiving such a payment—
(a)for any entitlement of that person to claim relief under Part XVIII to be extinguished or reduced to such extent as may be found under the regulations; and
(b)for the adjustment, by reference to any provision having effect under the law of a territory outside the United Kingdom, of any amount falling to be taken, for any prescribed purposes of the [F9Corporation] Tax Acts F10. . . , to be the amount paid or payable by or to any person in respect of any sale, repurchase or other transfer of the overseas securities to which the payment relates.]
(2)Dividend manufacturing regulations may make provision with respect to—
(a)the accounts and other records which are to be kept,
(b)the vouchers which are to be issued or produced,
(c)F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(d)F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F12by persons by F13. . . whom manufactured dividends F14. . . are paid.]
[F15(2A)F16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
(3)Dividend manufacturing regulations may—
(a)make provision for prescribed provisions of the Management Act to apply [F17for corporation tax purposes] in relation to manufactured dividends, manufactured interest or manufactured overseas dividends with such modifications, specified in the regulations, as the Treasury think fit;
(b)F18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)Dividend manufacturing regulations may make different provision for different cases.
Textual Amendments
F1Sch. 23A inserted by Finance Act 1991 (c. 31, SIF 63:1), s. 58, Sch. 13 para. 1 (with effect as mentioned in s. 58(3) in relation to payments made on or after such day as may be specified: 26.2.1992 specified for certain purposes by S.I. 1992/173, reg.2; 30.6.1992 specified for certain purposes by S.I. 1992/1346, regs.2, 3, 4; 21.4.1993 specified for certain purposes by S.I. 1993/933, regs.2, 3(b), 4)
F2Words in Sch. 23A para. 8(1)(a)(aa) repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 238(8)(a)(i), Sch. 3 Pt. 1 (with Sch. 2)
F3Sch. 23A para. 8(1)(aa) inserted (29.4.1996) by Finance Act 1996 (c. 8), s. 159(7)(a)
F4Words in Sch. 23A para. 8(1)(b) repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 238(8)(a)(ii), Sch. 3 Pt. 1 (with Sch. 2)
F5Words in Sch. 23A para. 8(1) substituted (with effect in accordance with Sch. 10 para. 16 of the amending Act) by Finance Act 1997 (c. 16), Sch. 10 para. 13(1); S.I. 1997/991, art. 2
F6Words in Sch. 23A para. 8(1) substituted (6.4.2007 with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 238(8)(a)(iii) (with Sch. 2)
F7Word in Sch. 23A para. 8(1) inserted (6.4.2007 with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 238(8)(a)(iv) (with Sch. 2)
F8Sch. 23A para. 8(1A) inserted (29.4.1996) by Finance Act 1996 (c. 8), s. 159(8)
F9Word in Sch. 23A para. 8(1A)(b) inserted (6.4.2007 with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 238(8)(b)(i) (with Sch. 2)
F10Words in Sch. 23A para. 8(1A)(b) repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 238(8)(b)(ii), Sch. 3 Pt. 1 (with Sch. 2)
F11Sch. 23A para. 8(2)(c)(d) repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 238(8)(c)(i), Sch. 3 Pt. 1 (with Sch. 2)
F12Words in Sch 23A para. 8(2) substituted (with effect in accordance with Sch. 10 para. 16 of the amending Act) by Finance Act 1997 (c. 16), Sch. 10 para. 13(2); S.I. 1997/991, art. 2
F13Words in Sch. 23A para. 8(2) repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 238(8)(c)(ii), Sch. 3 Pt. 1 (with Sch. 2)
F14Words in Sch. 23A para. 8(2) repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 238(8)(c)(iii), Sch. 3 Pt. 1 (with Sch. 2)
F15Sch. 23A para. 8(2A) inserted (with effect in accordance with Sch. 10 para. 16 of the amending Act) by Finance Act 1997 (c. 16), Sch. 10 para. 13(3); S.I. 1997/991, art. 2
F16Sch. 23A para. 8(2A) repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 238(8)(d), Sch. 3 Pt. 1 (with Sch. 2)
F17Words in Sch. 23A para. 8(3)(a) inserted (6.4.2007 with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 238(8)(e)(i) (with Sch. 2)
F18Sch. 23A para. 8(3)(b) repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 238(8)(e)(ii), Sch. 3 Pt. 1 (with Sch. 2)