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Treatment of certain dividends.
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46.—(1) The Principal Act is amended—
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(a) in section 17 by inserting the following after subsection (2):
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“(3) Subsection (1) shall not apply to a banker by virtue only of the clearing of a cheque, or the arranging for the clearing of a cheque, by the banker.”,
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and
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(b) in section 62—
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(i) by renumbering the existing provision as subsection (1) of that section, and
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(ii) by inserting the following after subsection (1):
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“(2) This section does not apply to a banker by virtue only of the clearing of a cheque, or the arranging for the clearing of a cheque, by the banker.”.
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(2) This section applies as respects any payment on or after the date of the passing of this Act.
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