26. Section 44 of the principal Act is amended —
by deleting “25.5%” in subsection (1) and substituting “24.5%”;
by deleting subsection (13) and substituting the following subsection:
“(13) Notwithstanding anything in this Act, where the tax on any dividend paid in the year 2001 has been deducted at the rate of 25.5% —
the amount of such dividend received by a shareholder shall be deemed to have been paid without deduction of tax and to be a dividend of such a gross amount as after deduction of tax at the rate of 24.5% would be equal to the net amount paid; and a sum equal to the difference between such gross amount and the net amount paid shall be deemed to have been deducted from the dividend as tax; and
the difference between the amount of the tax deducted at 25.5% from such dividend and the amount deemed to have been so deducted under paragraph (a) shall be added to the balance on the first day of the year of assessment 2002 and deemed to be a part thereof.”; and
by deleting the words “section 43(3)” in subsection (14)(e)(i) and substituting the words “section 43(4)”.