Part 23Company distributions

Chapter 3Matters which are not distributions

Introduction

1029Overview of Chapter

(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 ( F3registered societies : interest and share dividends),

(h)

section 1056 (dividend or bonus relating to transactions with F4registered 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).