(1)Part 9A of CTA 2009 (company distributions), in its application in relation to a manufactured overseas dividend as a result of section 792 or 794, has effect—
(a)as if the manufactured overseas dividend were an overseas dividend on the overseas securities in question, and
(b)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 overseas dividend is representative, and
(b)the definition of “the payer” in section 931T is to be treated as omitted.