# Alliance & Leicester plc (Group Reorganisation) Act 2000, Section 8: Distributable profits or reserves of A&L


Without prejudice to the provisions of section 7 (Accounting provisions) of this Act, for the purpose of ascertaining on the appointed day what profits or reserves, if any, are capable of lawful distribution by A&L, any profits or reserves of a transferor which were capable of lawful distribution by that transferor at the end of its last financial year shall be deemed to have become capable of lawful distribution by A&L immediately after that last financial year.

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Source: https://www.legislation.gov.uk/ukla/2000/3/section/8 (the official version)
Page: https://openlegislation.uk/alliance-leicester-plc-group-reorganisation-act-2000/section-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.