Finance Act, 1994
|
Amendment of section 44 (group dividends) of Finance Act, 1983. |
55.— Section 44 of the Finance Act, 1983 , is hereby amended as respects distributions made in an accounting period ending on or after the 31st day of December, 1993, by the addition after subsection (7) of the following subsection: | |
“(8) References in this section to dividends shall be construed as including references to distributions on the redemption, repayment or purchase by a company of its own shares or on the acquisition of those shares by another company which is a subsidiary (within the meaning of section 155 of the Companies Act, 1963 ) of the company, and references to the receipt of dividends or to the payment of dividends shall be construed accordingly.”. |