Schedules

SCHEDULE 2Transitionals and savings etc

Part 24Corporation Tax Acts definitions etc

113

1

Section 1139 has effect as if in subsection (4)(b) the words “or 397A(1)” were omitted in relation to—

a

qualifying distributions arising before 22 April 2009,

b

cash dividends paid over to a person under paragraph 68(4) of Schedule 2 to ITEPA 2003 before 22 April 2009,

c

dividends treated under section 407 of ITTOIA 2005 as paid to a person before 22 April 2009, and

d

manufactured overseas dividends that are representative of a distribution within paragraph (a), (b) or (c).

2

In sub-paragraph (1)—

  • “manufactured overseas dividend” has the same meaning as in Chapter 2 of Part 11 of ITA 2007, and

  • “qualifying distribution” has the meaning given in section 989 of ITA 2007.

114

1

In relation to shares and securities issued before 17 April 2002, section 1164(1) has effect—

a

as if in subsection (1) “ or amalgamation ” were inserted after “scheme of reconstruction”, and

b

as if section 1165(2) were omitted.

2

In sub-paragraph (1) “shares” has the same meaning as in Chapter 4 of Part 24.

115

If an order under paragraph 13(2) of Schedule 22 to FA 2009 relating to paragraph 11(2) of that Schedule is made before 1 April 2010 so as to come into force on or after that date, the order is to have effect as if any reference to paragraph 11(2) were a reference to that provision as substituted by this Act.