# Finance Act 2016, Paragraph 44


(1) Section 1115 (meaning of “new consideration” in Part 23) is amended as follows.
(2) In subsections (5)(a) and (6)(b) for “qualifying” substitute “ non-CD ”.
(3) After subsection (6) insert—
“(7) In this section “non-CD distribution” means any distribution other than one which is a distribution for the purposes of the Corporation Tax Acts only because it falls within paragraph C or D in section 1000(1) (redeemable share capital or security issued as bonus in respect of shares in, or securities of, the company).”

---
Source: https://www.legislation.gov.uk/ukpga/2016/24/schedule/1/paragraph/44 (the official version)
Page: https://openlegislation.uk/finance-act-2016/schedule-1/paragraph-44
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.