Corporation Tax Act 2010

Introduction U.K.

1029 Overview of Chapter U.K.

(1) In this Chapter the following sections provide that a particular matter is not a distribution—

(a) section 1030 (distributions in respect of share capital on a winding up),

[F1 (aa) section 1030A (distributions in respect of share capital prior to dissolution of company),]

(b) section 1031 (distribution as part of a cross-border merger),

(c) section 1032 (interest etc paid in respect of certain securities),

F2 (ca) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(d) section 1033 (purchase by unquoted trading company of own shares),

(e) section 1049 (stock dividends),

(f) section 1054 (building society payments),

(g) section 1055 ( [F3 registered societies ] : interest and share dividends),

(h) section 1056 (dividend or bonus relating to transactions with [F4 registered society] ), and

(i) section 1057 (UK agricultural or fishing co-operatives: interest and share dividends).

(2) The following make similar provision outside this Chapter—

(a) section 1075 (exempt distributions), and

(b) paragraph 6 of Schedule 12 to FA 1988 (transfer of building society's business to a company: qualifying benefits).

Textual Amendments

F1 S. 1029(1)(aa) inserted (with effect in accordance with art. 18 of the amending S.I.) by The Enactment of Extra-Statutory Concessions Order 2012 (S.I. 2012/266), arts. 1, 16(2)

F2 S. 1029(1)(ca) repealed (with effect in accordance with reg. 1(2)(3) of the amending S.I.) by The Taxation of Regulatory Capital Securities Regulations 2013 (S.I. 2013/3209), regs. 1(1), 12(a)(iii)

F3 Words in s. 1029(1)(g) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 164(a) (with Sch. 5)

F4 Words in s. 1029(1)(h) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 164(b) (with Sch. 5)