Clause 35

by deleting the words “or 45E(1)(a)” in subsection (1)(a) and substituting the words “, 45E(1)(a) or 45GA”; and

by deleting subsection (2) and substituting the following subsection:“(2) Notwithstanding subsection (1), where the tax on any dividend paid in the year 2007 has been deducted at the rate of 20%, the tax to be set-off under subsection (1) shall be the sum deemed to be the tax deducted from such dividend under section 44A(4).”.