172H Obligations of authorised withholding agent in relation to relevant distributions.

(1) An authorised withholding agent which is to receive, on behalf of other persons, any relevant distributions to be made to it by any company resident in the State shall notify that company, by way of notice in writing, that it is an authorised withholding agent in relation to those distributions.

(2) Where an authorised withholding agent receives, on behalf of another person, a relevant distribution from a company resident in the State, and gives that distribution, or an amount or other asset representing that distribution, to that other person, this Chapter shall apply, with any necessary modifications, as if—

(a) the authorised withholding agent were the company which made the distribution, and

(b) the giving by the authorised withholding agent of the relevant distribution, or an amount or other asset representing that distribution, to that other person were the making of the relevant distribution by the authorised withholding agent to that other person at the time of the making of the relevant distribution to the authorised withholding agent by the company,

and accordingly, except where otherwise provided by this Chapter, section 172B shall apply in relation to that relevant distribution and the authorised withholding agent shall be obliged to pay and account for the dividend withholding tax (if any) due in relation to the relevant distribution.

(3) Where at any time a company resident in the State makes a relevant distribution to a person and, apart from this subsection, the relevant distribution would be treated as being made to an authorised withholding agent for the benefit of another person, the distribution shall be treated as if it were not made to the authorised withholding agent for the benefit of that other person unless, at or before that time, the authorised withholding agent has notified the company in accordance with subsection (1) that it is an authorised withholding agent in relation to the relevant distribution, and accordingly, in the absence of such a notification, section 172B shall apply in relation to the relevant distribution.