740Abnormal dividends: generalU.K.
This section has no associated Explanatory Notes
(1)An amount received by way of dividend is treated as abnormal for the purposes of this Part if the appropriate authority is satisfied—
(a)in any case that the excessive return condition is met (see section 741), or
(b)in the case of a dividend at a fixed rate, that the excessive accrual condition is met (see section 742).
(2)In subsection (1) “the appropriate authority” means whichever of the following is determining the question whether the amount is abnormal for the purposes of this Part—
(a)an officer of Revenue and Customs,
(b)the Commissioners for Her Majesty's Revenue and Customs, or
(c)the tribunal.