1056Dividend or bonus relating to transactionsU.K.
This section has no associated Explanatory Notes
(1)This section applies if—
(a)a dividend or bonus is granted by a [F1registered society] , and
(b)section 132 of CTA 2009 (dividends etc relating to transactions with [F2a registered society] ) allows the sum representing the dividend or bonus to be deducted in calculating the profits of a trade.
(2)The dividend, or the bonus, is not a distribution for the purposes of the Corporation Tax Acts.
Textual Amendments
F1Words in Act substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), Sch. 4 para. 156 (with Sch. 5)
F2Words in s. 1056(1)(b) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 167 (with Sch. 5)