# Income and Corporation Taxes Act 1988, Paragraph 11

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

(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.

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Source: https://www.legislation.gov.uk/ukpga/1988/1/schedule/A2/paragraph/11 (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-A2/paragraph-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.