This is the original version (as it was originally enacted).
6(1)Section 549 (distributions: supplementary) is amended as follows.
(2)In subsections (2) and (2A) after “shareholder” insert “so far as they are distributions of exempt profits”.
(3)After subsection (3) insert—
“(3A)Relevant distribution” does not include a distribution falling within section 549A(6) or (8) so far as the distribution is a distribution of exempt profits.”
(4)In subsection (4) after the first “shareholder” insert “(so far as they are distributions of exempt profits)”.
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