Related Commentary  

5A(1)  This regulation applies where–

(a)a person (the “original payer”) pays a manufactured overseas dividend, and

(b)the payment is made to an approved United Kingdom intermediary or to an approved United Kingdom collecting agent as part of a chain of payments where conditions A to E are met.

5A(2)  Condition A is that each payment in the chain, apart from the first, is a payment by an approved United Kingdom intermediary or an approved United Kingdom collecting agent of a manufactured overseas dividend representative of the same overseas dividend.

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