Statutory Instruments
2001 No. 403
INCOME TAX
The Income Tax (Manufactured Overseas Dividends) (Amendment) Regulations 2001
Made
15th February 2001
Laid before the House of Commons
16th February 2001
Coming into force
9th March 2001
The Treasury, in exercise of the powers conferred upon them by paragraphs 1(1) and 8 of Schedule 23A to the Income and Corporation Taxes Act 1988( 1 ), hereby make the following Regulations:
Citation, commencement and effect
1. —(1) These Regulations may be cited as the Income Tax (Manufactured Overseas Dividends) (Amendment) Regulations 2001 and shall come into force on 9th March 2001.
(2) These Regulations shall have effect in relation to manufactured overseas dividends paid or received on or after 1st April 2001.
(3) In paragraph (2) “manufactured overseas dividend” has the meaning given by paragraph 4(1) of Schedule 23A to the Income and Corporation Taxes Act 1988.
Amendment to the Income Tax (Manufactured Overseas Dividends) 1993
2. —(1) Amend regulation 2(1) of the Income Tax (Manufactured Overseas Dividends) Regulations 1993( 2 ) as follows.
(2) For the definition of “collecting agent”( 3 ) substitute the following definition—
“ “collecting agent” means a person who, in the course of carrying on a trade in the United Kingdom, collects or secures payment of overseas dividends for another person or acts as custodian of any overseas securities; ” .
Jim Dowd
Clive Betts
Two of the Lords Commissioners of Her Majesty’s Treasury
15th February 2001
1988 c. 1 . Schedule 23A was inserted by paragraph 1 of Schedule 13 to the Finance Act 1991 (c. 31) . Paragraph 1(1) of Schedule 23A is cited for the definitions of “dividend manufacturing regulations” and “prescribed”. Paragraph 8 of Schedule 23A was amended by section 159(7) and (8) of the Finance Act 1996 (c. 8) and paragraph 13 of Schedule 10 to the Finance Act 1997 (c. 16) .
Inserted by regulation 3(2)(b) of S.I. 1996/2643 .