Section 554A Meaning of “distribution”F1

(1)

In this Chapter, references (however expressed) to a distribution include share capital issued in lieu of a cash dividend.

(2)

Section 1051(2) to (4) (meaning of “share capital issued in lieu of a cash dividend”) applies for the purposes of this section as it applies for the purposes of section 1049(1)(a).

Annotations

Textual amendments

F1: S. 554A inserted (with effect in accordance with Sch. 4 para. 12 of the amending Act) by Finance (No. 3) Act 2010 (c. 33), Sch. 4 para. 8