Interest distributions: the position of the legal ownerU.K.
33.—(1) For the purposes of determining whether an interest distribution should be made with or without any deduction, the legal owner is entitled to treat a declaration made for the purposes of regulation 30 as valid.
(2) But the legal owner may not treat a declaration as valid if condition A or B is met.
(3) Condition A is that the legal owner receives a notification in compliance with an undertaking under regulation 31 that a person in question has become resident F1... in the United Kingdom.
(4) Condition B is that the legal owner comes into possession of information by some other means which indicates that such a person is or may be resident F1... in the United Kingdom.
Textual Amendments
F1Words in reg. 33(3)(4) omitted (with effect in accordance with reg. 1(2)(d) of the amending S.I.) by virtue of The Authorised Investment Funds (Tax) (Amendment) (No. 2) Regulations 2013 (S.I. 2013/2994), regs. 1(1), 11