# Finance (No. 3) Act 2010, Paragraph 3


(1) Part 9A of CTA 2009 (company distributions) is amended as follows.
(2) In section 931A (charge to tax), omit subsection (2) and for subsection (3) substitute—
“(3) A distribution is exempt for the purposes of this Part if it is exempt under—
(a) Chapter 2 (distributions received by small companies), or
(b) Chapter 3 (distributions received by companies that are not small).”
(3) In section 931H (dividends derived from transactions not designed to reduce tax)—
(a) in the heading, for “Dividends” substitute “ Distributions ”,
(b) in subsection (1)—
(i) after “dividend” insert “ or other distribution ”, and
(ii) for “paid” substitute “ made ”,
(c) in subsection (2), for “dividend is paid” substitute “ distribution is made ”,
(d) in subsections (3) and (4)—
(i) for “dividend” substitute “ distribution ”, and
(ii) for “paid” substitute “ made ”, and
(e) in subsection (5)—
(i) for “dividend” substitute “ distribution ”,
(ii) for “paid” (in both places) substitute “ made ”, and
(iii) for “dividends” substitute “ distributions ”.
(4) After section 931R insert—
“Chargeable gains
Chargeable gains
931RA The fact that a dividend or other distribution is exempt does not prevent it from being taken into account in the calculation of chargeable gains.”

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Source: https://www.legislation.gov.uk/ukpga/2010/33/schedule/3/paragraph/3 (the official version)
Page: https://openlegislation.uk/finance-no-3-act-2010/schedule-3/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.