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Finance Act 2004

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This is the original version (as it was originally enacted).

Meaning of “non-corporate distribution”

2(1)A “non-corporate distribution” means a distribution made by a company to a recipient who is not a company.

  • “Recipient” here means the person beneficially entitled to the distribution.

(2)A distribution made to a partnership is treated as made to the partners notwithstanding that the partnership is regarded as a legal person, or as a body corporate, under the law of the country or territory under which it is formed.

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