Statute
Section 1025 — Corporation Tax Act 2010: Share capital issued at a premium representing new consideration
Text of the provision Official document
Share capital issued at a premium representing new consideration 1025 1 This section applies if—
a share capital is issued at a premium representing new consideration, and b a distribution is made in respect of shares representing the share capital.
2 The amount of the premium is treated as forming part of the share capital for the purpose of determining under this Chapter whether the distribution is a repayment of share capital.
3 Subsection (2) does not have effect in relation to any part of the premium after that part has been applied to paying up share capital.
Official source: legislation.gov.uk
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