54. Amendment of section 169 of the principal enactment

Section 169 of the principal enactment is hereby amended by the addition at the end of that section, the following new subsection —

“(8)

Nothing in the above provisions of this section shall operate in relation to the following deductions —

Inland Revenue (Amendment)

income tax paid by a primary dealer on any interest under section 122A or 122B, on primary market transactions;

income tax paid by any person on any interest under section 122A or 122B (not being any interest referred to in paragraph (a) paid by any primary dealer) where such interest is not included in his assessable income, or on any dividends under subsection (1A) of section 61;

income tax paid by any person as provided for under section 33 or on any rewards or share of fines received, a lottery prize or winnings from betting or gaming taxable under section 132A.”.