11(1)Section 263D of TCGA 1992 (gains accruing to persons paying manufactured dividends) is amended as follows.U.K.
(2)In subsection (6)(b), for “adjusted amount” substitute “ amount specified in subsection (7) below ”.
(3)For subsection (7) substitute—
“(7)The amount referred to in subsection (6) above is the lesser of—
(a)the amount of the manufactured dividend paid, and
(b)the amount of the dividend of which the manufactured dividend is representative.”