Section CU 20 — Income Tax Act 2007: Mining company or mining holding company liquidated

CU 20 Mining company or mining holding company liquidated Treatment of shares (1) If a mining company or a mining holding company is liquidated,— (a) a mining share held in the company is treated as disposed of to the company; and (b) a distribution received for the share on the liquidation is treated as an amount received for the disposal. Relationship with section CU 14 (2) Section CU 14 deals with the recovery of reinvestment profit on the disposal of mining shares. Defined in this Act: amount , liquidation , mining company , mining holding company , mining share , reinvestment profit , Compare: 2004 No 35 s CU 20