This section has no associated Explanatory Notes
174(1)Amend section 737C (deemed manufactured payments: further provisions) as follows.
(2)In subsection (7)—
(a)for “Subsection (8)” substitute “Subsection (9)”,
(b)for “paragraph 3 of Schedule 23A” substitute “section 97 of the Finance Act 1996”, and
(c)omit the words from “and in subsection (8) below” to the end.
(3)Omit subsection (8).
(4)For subsection (9) substitute—
“(9)Where this subsection applies, the repurchase price of the securities shall be treated, for the purposes of section 730A, as increased by an amount equal to the amount of the dividend mentioned in section 737A(2)(a) or (2A)(a).”