Clause 18

Section 46 of the principal Act is amended by inserting, immediately after subsection (2A), the following subsection:“(2B) Notwithstanding subsection (1), where tax on any dividend paid in 1992 has been deducted at the rate of 31%, the tax to be set off under subsection (1) shall be the sum deemed to be the tax deducted from such dividend under section 44(11B).”.