In this part of these Regulations–

• “dividend manufacturer” means any person who–

  1. (a)

     is a dividend manufacturer in relation to whom subsection (1) of section 737 applies, and

  2. (b)

     makes a payment of a manufactured dividend in respect of United Kingdom securities;

• “manufactured dividend” means any payment which is a manufactured dividend in respect of United Kingdom securities in relation to which subsection (1) of section 737 applies, other than one which is such a payment by virtue of the provisions of subsection (6) of that section for treating references to a periodical payment of interest as including references to a qualifying distribution or a dividend which is not a qualifying distribution;

• “qualifying dividend manufacturer” means a dividend manufacturer who–

  1. (a)

     carries on a business which from time to time involves a manufactured dividend being paid by that person to another, and

  2. (b)

     is capable, whether by reason of being a market maker in relation to United Kingdom securities or otherwise, of making a payment of a manufactured dividend which is an approved manufactured payment.

Where a dividend manufacturer makes a payment of a manufactured dividend in respect of United Kingdom securities, he shall furnish the recipient with a voucher showing the gross amount of the payment, the amount of tax deducted, and the actual amount paid.