Part 24Corporation Tax Acts definitions etc
Chapter 1Definitions
1136“Qualifying distribution”
(1)
In the Corporation Tax Acts “qualifying distribution” means any distribution, except—
(a)
one which is a distribution for corporation tax purposes only because it falls within paragraph C or D in section 1000(1) (redeemable share capital or security issued in respect of shares in, or securities of, the company), or
(b)
a distribution which is derived from a distribution that falls within paragraph (a).
(2)
A distribution made by a company (“A”) is derived from a distribution that falls within subsection (1)(a) if it consists of share capital or a security which A has received (directly or indirectly) from another company (“B”) which issued the share capital or security by way of a distribution that falls within subsection (1)(a).