Paragraph 69
United Kingdom
(1)
The plan must require any distributable cash dividends in respect of plan shares held on behalf of a participant to be paid over to the participant as soon as practicable.
(2)
“Distributable cash dividends” means cash dividends F1so far as they are not required to be reinvested under the plan.
Annotations
Textual amendments
- F1
Words in Sch. 2 para. 69(2) substituted (with effect in accordance with Sch. 2 para. 86 of the amending Act) by Finance Act 2013 (c. 29), Sch. 2 para. 85
Notes on Schedule 2
Textual amendments
- F1
Word in Sch. 2 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 14, 89 (with Sch. 8 paras. 90-96)