Part 17Manufactured payments and repos

Chapter 2Manufactured dividends

787Exemption of manufactured dividends

1

Part 9A of CTA 2009 (company distributions), in its application in relation to a manufactured dividend as a result of section 784, has effect with the following modification.

2

The modification is that—

a

references in that Part to the payer are to be treated as references to the company that pays the dividend of which the manufactured dividend is representative, and

b

the definition of “the payer” in section 931T is to be treated as omitted.