Clause 13

Section 46 of the principal Act is amended by inserting, immediately after subsection (5), the following subsection:“(5A) Notwithstanding subsection (1), where the tax on any dividend paid in 1996 has been deducted at the rate of 27%, 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(16A).”.