3(1)Section 468 (authorised unit trusts) shall be amended as follows.U.K.
(2)At the end of subsection (1) there shall be inserted “ but paragraph (b) above is without prejudice to the making of distributions which are interest distributions (within the meaning of section 468L) to unit holders ”.
(3)Subsection (2) (notional dividends of authorised unit trusts) shall be omitted.
(4)In subsection (3) for the words “subsections (1) and (2) above” there shall be substituted “ subsection (1) above ”.
(5)In subsection (6) the definition of “distribution period” shall be omitted.