Paragraph 11

United Kingdom

(1)

This paragraph applies where an amount of excess NCDs allocated to another company in accordance with this Part of this Schedule later proves to be excessive.

(2)

The excess shall revert to the distributing company.

(3)

If allocations to two or more companies are involved, the amounts shall revert in the opposite order to that in which the allocations were made.

(4)

In the case of allocations made at the same time, the amounts reverting to the distributing company shall be in proportion to the original allocations.

Notes on Schedule A2

Textual amendments

F1: Sch. A2 repealed (with effect in accordance with s. 26(8)-(11) of the repealing Act) by Finance Act 2006 (c. 25), s. 26(2), Sch. 26 Pt. 3(1), Note
F2: Sch. A2 inserted (with effect in accordance with s. 28(4)(5) of the amending Act) by Finance Act 2004 (c. 12), s. 28(2)(6), Sch. 3