Modifications etc. (not altering text)
C1Pt. 6 modified by Airports Act 1986 (c. 31), s. 77(3) (as substituted (with effect in accordance with s. 105(1) of the amending Act) by Finance Act 1996 (c. 8), Sch. 14 para. 3 (with Sch. 15))
C2Pt. 6 modified by Gas Act 1986 (c. 44), s. 60(3) (as substituted (with effect in accordance with s. 105(1) of the amending Act) by Finance Act 1996 (c. 8), Sch. 14 para. 4 (with Sch. 15))
C3Pt. 6 modified by British Steel Act 1988 (c. 35), s. 11(7) (as substituted (with effect in accordance with s. 105(1) of the amending Act) by Finance Act 1996 (c. 8), Sch. 14 para. 55 (with Sch. 15))
Modifications etc. (not altering text)
C4Pt. 6 Chs. 1-3: power to amend conferred (1.4.2009 with effect in accordance with s. 1329(1) of the affecting Act) by Corporation Tax Act 2009 (c. 4), s. 533(2)(3)(d)
(1)A reference in the Corporation Tax Acts to distributions of a company shall not apply to a distribution if—
(a)it is a distribution consisting of—
(i)the transfer of part of a business by a company (“the distributing company”) to one or more other companies (“the transferee company or companies”), and
(ii)the issue of shares by the transferee company or companies to the members of the distributing company, and
(b)the requirements of either section 140A(1A) of the 1992 Act (division of UK business) or section 140C(1A) of that Act (division of non-UK business) are satisfied in relation to the distribution.
(2)A distribution to which this section applies is an “exempt distribution” for the purposes of sections 214 to 217.
(3)The expression “relevant company” in sections 214 to 217 includes the distributing company and the transferee company or companies.]
Textual Amendments
F1S. 213A inserted (29.11.2007 with effect in accordance with reg. 3(1) of the amending S.I. (as retrospectively amended by S.I. 2008/1579, reg. 4(1)) by The Corporation Tax (Implementation of the Mergers Directive) Regulations 2007 (S.I. 2007/3186), reg. 1(2), Sch. 1 para. 13