That, in relation to transactions effected on or after 6th April 1993, Schedule 3 to the Income and Corporation Taxes Act 1988 shall be amended as follows—
(1) In sub-paragraph (1) of paragraph 6A, for "basic rate" there shall be substituted "applicable rate".
(2) After sub-paragraph (2) of that paragraph there shall be inserted the following sub-paragraph—
(2A) Payments of tax made on any person's behalf under this paragraph shall be treated as made for the purpose only of being applied in the discharge of that person's liability to tax charged (otherwise than by virtue of this paragraph) on the dividends or proceeds to which the payments relate.
(3) After sub-paragraph (3) of that paragraph there shall be inserted the following sub-paragraph—
(4) For the purposes of sub-paragraph (1) above the applicable rate shall be—
And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.