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6 1967


Chapter II

Explanation of Income Tax Deducted to be Annexed to Dividend and Interest Warrants

Annexation of statement to warrants.

458. —(1) Every warrant, cheque, or other order sent or delivered for the purpose of paying any interest or dividend distributed by a company which is entitled to deduct income tax from such interest or dividend shall have annexed thereto or be accompanied by a statement in writing showing—

(a) the gross amount which, after deduction of the income tax appropriate thereto, corresponds to the net amount actually paid, and

(b) the rate and amount of income tax appropriate to such gross amount, and

(c) the net amount actually paid.

(2) If a company fails to comply with any of the provisions of this section the company shall incur a penalty of £10 in respect of each offence but the aggregate amount of the penalties imposed under this section on any company in respect of offences connected with any one payment or distribution of interest or dividends shall not exceed £100.

(3) In this section the word “company” means a company within the meaning of the Companies Act, 1963 , and a company created by letters patent or by or in pursuance of any statute.