Part 17

Manufactured payments and repos
Chapter 4

Further provision about manufactured payments

Miscellaneous

Powers about amounts representative of overseas dividends
802
1
The Treasury may by regulations make provision as mentioned in subsections (2) and (3) about prescribed cases where a person—
a
pays or receives an amount representative of an overseas dividend, or
b
is treated as doing so for any purposes of this Chapter or Chapter 3, or of regulations made under this Chapter.
2
The regulations may provide for removing or reducing any right of the person to claim relief under Part 2 of TIOPA 2010 (double taxation relief).
3
The regulations may provide for adjusting a relevant amount by reference to a provision that has effect under the law of a territory outside the United Kingdom.
4
A “relevant amount” is an amount which is treated for prescribed purposes of the Corporation Tax Acts as the amount paid or payable to a person in respect of a relevant transaction.
5
A “relevant transaction” is a sale, repurchase or other transfer of the overseas securities to which the amount mentioned in subsection (1)(a) relates.