# Finance Act 1980, Paragraph 11

Extent: E+W+S+N.I.

Subject to paragraph 16 below, section 21 of the Development Land Tax Act 1976 (chargeable disposal where company ceases to be a member of a group) shall not apply where a company ceases to be a member of a group by reason only of an exempt distribution.

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Source: https://www.legislation.gov.uk/ukpga/1980/48/schedule/18/paragraph/11 (the official version)
Page: https://openlegislation.uk/finance-act-1980/schedule-18/paragraph-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.