Amendments to the principal Regulations4
In regulation 4 for paragraph (2) there shall be substituted—
2
The circumstances prescribed by this paragraph are where—
a
a manufactured overseas dividend is paid to an approved United Kingdom intermediary or an approved United Kingdom collecting agent by an overseas dividend manufacturer who—
i
is resident in the United Kingdom or, if not so resident, makes the payment in the course of a trade which he carries on through a branch or agency in the United Kingdom, and
ii
is not an approved United Kingdom intermediary; and
b
the manufactured overseas dividend is not representative of the overseas dividend received by the overseas dividend manufacturer.