Clause 14

Section 46 of the principal Act is amended by inserting, immediately after subsection (2), the following subsection:“(3) Notwithstanding subsection (1), if any amount of the charge referred to in section 44(3) or any amount of tax payable referred to in section 44(3) or (6) is not paid within 14 days from the date of payment of any dividend to which the charge or tax relates or by 31st December of the year in which the dividend is paid, whichever is the later, no set-off against tax under subsection (1) shall be allowed in respect of the whole of the dividend.”.