Finance Act 1994

18(1)Section 737 of the Taxes Act 1988 (manufactured dividends: treatment of tax deducted) shall be amended as follows.

(2)In subsection (3) (cases where section 737(1) does not apply) at the end of paragraph (b) there shall be inserted “ or ”, and after that paragraph there shall be inserted the following paragraph—

(c)the manufactured dividend is representative of a foreign income dividend.

(3)In subsection (6) after the definition of “dividend manufacturing regulations” there shall be inserted the following definition—

foreign income dividend” shall be construed in accordance with Chapter VA of Part VI;.