Statute
Section 1028 — Corporation Tax Act 2010: Certain payments connected with exempt distributions
Text of the provision Official document
Certain payments connected with exempt distributions 1028 1 A chargeable payment made within 5 years after an exempt distribution is not to be (if it otherwise would be) treated as a repayment of share capital for the purposes of sections 1022 and 1023 (bonus issue following repayment of share capital).
2 The purpose of the provisions about demergers (which include this section) is set out in section 1074.
3 In this section—
a “ chargeable payment ” has the meaning given by section 1088, and b “ exempt distribution ” has the meaning given by section 1075(2).
Official source: legislation.gov.uk
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