Part 5Group relief
Chapter 6Equity holders and profits or assets available for distribution
Company's entitlement to profits or assets available for distribution: supplementary
172Company A's proportion if shares etc have temporary rights
(1)
If this section applies, determine what company A's proportion would be if the rights of all participating equity holders at the relevant time were the same as what they would be at the relevant future time.
The result is referred to as “the alternative proportion”.
(2)
For the purposes of subsection (1)—
(a)
“the relevant future time” means the time after the relevant accounting period mentioned in subsection (2) or (3) of section 171 (as the case may be), and
(b)
assume that effect is given to all arrangements (if any) within subsection (3) of that section.
(3)
If the alternative proportion is less than what company A's proportion would be ignoring this section, then company A's proportion is taken to be the alternative proportion.
(4)
Subsection (3) is subject to sections 175, 177, 178 and 180.