Paragraph 3 Section 832 - distributionsI1

United Kingdom

(1)

This paragraph applies to a company that is an investment company within the meaning of section 833 of the Act immediately before F1IP completion day.

(2)

For the period of one year beginning on F2IP completion day—

(a)

the amendment made by paragraph 12 of Schedule 1 does not apply to the company;

(b)

section 832 of the Act applies to the company as if subsection (5)(a) was substituted by—

“(a)
the company's shares must be shares admitted to trading on a UK regulated market or an EU regulated market”.

Annotations

Textual amendments

F1: Words in Sch. 4 para. 3(1) substituted (31.12.2020 immediately before IP completion day) by The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/523), regs. 1(2), 20(c)(i)
F2: Words in Sch. 4 para. 3(2) substituted (31.12.2020 immediately before IP completion day) by The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/523), regs. 1(2), 20(c)(ii)

Commencement

I1: Sch. 4 para. 3 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 2