The Manufactured Overseas Dividends (French Indemnity Payments) (Amendment) Regulations 1996

Statutory Instruments

1996 No. 2642

INCOME TAX

The Manufactured Overseas Dividends (French Indemnity Payments) (Amendment) Regulations 1996

Made

16th October 1996

Laid before the House of Commons

16th October 1996

Coming into force

6th November 1996

The Treasury, in exercise of the powers conferred on them by paragraphs 1(1) and 8 of Schedule 23A to the Income and Corporation Taxes Act 1988(1), hereby make the following Regulations:

1.  These Regulations may be cited as the Manufactured Overseas Dividends (French Indemnity Payments) (Amendment) Regulations 1996 and shall come into force on 6th November 1996.

2.  In regulations 3(2)(a) and 4(2)(a) of the Manufactured Overseas Dividends (French Indemnity Payments) Regulations 1996(2), for the words “paragraphs 4 and 5” there shall be substituted the words “paragraph 4”.

Roger Knapman

Bowen Wells

Two of the Lords Commissioners of Her Majesty’s Treasury

16th October 1996

Explanatory Note

(This note is not part of the Regulations)

These Regulations amend the Manufactured Overseas Dividends (French Indemnity Payments) Regulations 1996 (S.I. 1996/1826) by omitting from regulations 3 and 4 references to paragraph 5 of Schedule 23A to the Income and Corporation Taxes Act 1988 (“Schedule 23A”). The amendments made are in consequence of the disapplication of paragraph 5 of Schedule 23A in relation to manufactured overseas dividends by the Income Tax (Manufactured Overseas Dividends) (Amendment No. 2) Regulations 1996 (S.I. 1996/2643).

(1)

1988 c. 1. Schedule 23A was inserted by paragraph 1 of Schedule 13 to the Finance Act 1991 (c. 31), and paragraph 8 of that Schedule was amended by section 159(7) and (8) of the Finance Act 1996 (c. 8). See also the definitions of “prescribed” and “dividend manufacturing regulations” in paragraph 1(1) of Schedule 23A.

(2)

S.I. 1996/1826.