- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
There are currently no known outstanding effects for the Corporation Tax Act 2010, Section 171.
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(1)Section 172 applies if, at the relevant time, one or more of the participating equity holders holds, as such, shares or securities—
(a)which have rights within subsection (2), or
(b)in relation to which arrangements within subsection (3) are in place.
(2)The rights within this subsection are distribution rights of such a kind that if—
(a)the profit distribution were to be made, or
(b)the notional winding up were to occur,
at a time after the relevant accounting period, the equity holder's entitlement at that time would be different from the equity holder's entitlement at the relevant time.
(3)The arrangements within this subsection are arrangements of such a kind that if—
(a)effect were to be given to the arrangements, and
(b)the profit distribution were to be made, or the notional winding up were to occur, at a time after the relevant accounting period,
then, as a result of effect being given to the arrangements, the equity holder's entitlement at that time would be different from the equity holder's entitlement at the relevant time.
(4)The references in subsections (2) and (3) to the equity holder's entitlement at a time are references to the proportion to which the equity holder would be beneficially entitled (as the case may be)—
(a)of profits on the profit distribution if it were made at that time, or
(b)of assets on the notional winding up if it occurred at that time.
Modifications etc. (not altering text)
C1Pt. 5 Ch. 6 applied in part (with effect in accordance with s. 51 of the amending Act) by Finance Act 2022 (c. 3), s. 50(2)(3)
C2Pt. 5 Ch. 6 applied (temp.) (with effect in accordance with Sch. 10 para. 43 of the amending Act) by Finance Act 2022 (c. 3), Sch. 10 para. 6(2) (as amended (5.1.2023) by The Finance Act 2022, Schedule 10 (Public Interest Business Protection Tax) (Substitution of Date) Regulations 2022 (S.I. 2022/1321), regs. 1, 2(2))
C3Pt. 5 applied (with modifications) (24.2.2022) by Finance Act 2022 (c. 3), Sch. 2 para. 47(4)
C4Ss. 169-178 applied (with modifications) (24.2.2022) by Finance Act 2022 (c. 3), Sch. 2 para. 5(4) (as amended (11.7.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 4 para. 10)
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