2(1)Section 75 of the Taxes Act 1988 (expenses of management: investment companies) shall be amended as follows.
(2)In subsection (2) (deductions from amount treated as expenses of management) the words “foreign income dividends” shall cease to have effect.
(3)Subsection (6) (definition of “foreign income dividends”) shall cease to have effect.
(4)This paragraph has effect in relation to distributions made on or after 6th April 1999.