# Finance Act 2016, Paragraph 30


(1) Section 279G (ring fence profits: meaning of “augmented profits”) is amended as follows.
(2) In subsection (1)(b) (franked investment income is part of augmented profits unless excluded)—
(a) for “franked investment income” substitute “ exempt ABGH distributions ”, and
(b) for “is” substitute “ are ”.
(3) In subsection (3) (exclusion of franked investment income received from certain subsidiaries etc), for “franked investment income” substitute “ exempt ABGH distribution ”.
(4) After subsection (4) insert—
“(5) In this section “exempt ABGH distribution” means a distribution which—
(a) is a distribution for the purposes of the Corporation Tax Acts only because it falls within paragraph A, B, G or H in section 1000(1), and
(b) is exempt for the purposes of Part 9A of CTA 2009 (company distributions).”

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Source: https://www.legislation.gov.uk/ukpga/2016/24/schedule/1/paragraph/30 (the official version)
Page: https://openlegislation.uk/finance-act-2016/schedule-1/paragraph-30
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.