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“deemed UCITS” has the meaning assigned to it by section 898D(3)(a);

“paying agent” has the meaning assigned to it by section 898D(1);

“residual entity” has the meaning assigned to it by section 898D(1);

“UCITS” has the meaning assigned to it by section 898D(2)(c);

(b) acts on behalf of a person (not being an individual) or an undertaking referred to in section 898D(2),

(7) (a) An interest payment to a residual entity which has not elected to be treated as a UCITS in accordance with section 898D(3) shall, at the time the interest payment is received by the residual entity, be treated for the purposes of this Chapter as an interest payment (in this Chapter referred to as a “deemed interest payment”) made by the residual entity at that time.