Version Superseded: 15/09/2016
Point in time view as at 19/07/2011.
Finance Act 2009, Paragraph 6 is up to date with all changes known to be in force on or before 07 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
6(1)Section 397C (meaning of “minority shareholder”) is amended as follows.U.K.
(2)In subsection (1)—
(a)for “397A” substitute “ 397AA ”, and
(b)omit “non-UK resident”.
(3)After that subsection insert—
“(1A)Where the company has more than one class of share, the reference in subsection (1) to the company's issued share capital is to issued share capital of the same class as the share in respect of which the distribution is made.”
(4)Insert at the end—
“(8)For the purposes of this section, shares are not of the same class if the amounts paid up on them (otherwise than by way of premium) are different.”
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