Section HM 19 — Income Tax Act 2007: Requirements for listed PIEs: fully crediting distributions

HM 19 Requirements for listed PIEs: fully crediting distributions What this section does (1) This section is an additional rule for an entity that is a listed PIE other than a life fund PIE. Fully crediting distributions (2) When a listed PIE distributes an amount to an investor in an investor class, the distribution must be fully credited as described in section CD 43(26) (Available subscribed capital (ASC) amount) to the extent permitted by the imputation credits or FDP credits that the directors of the company determine are available. Relationship with section CX 56C (3) For the treatment of imputation credits when a shareholder chooses to include the distribution as income in their return of income, see section CX 56C(2) (Distributions to investors by listed PIEs). Defined in this Act: amount , company , director , FDP credit , imputation credit , income , investor , investor class , life fund PIE , listed PIE , return of income , shareholder Compare: 2007 No 97 s HL 8 Section HM 19: inserted, on 1 April 2010 (applying for the 2010–11 and later income years), by section 292(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).