246B Procedure for making election.U.K.
(1)An election under section 246A—
(a)must be made by notice to the inspector;
(b)must be made not later than the time the dividend is paid;
(c)may be revoked by a further notice to the inspector before that time (without prejudice to the making of another election as regards the same dividend);
(d)cannot be revoked after the dividend is paid.
(2)A notice under subsection (1)(a) above must—
(a)identify the dividend in respect of which the election is made, and
(b)be in such form as the Board may require.
(3)Where section 246A(4), (5) or (7) applies—
(a)the same notice must be used to elect as regards all the dividends concerned, and
(b)the notice may identify the dividends concerned, or any of them, by means of a general description.