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Corporation Tax Act 2010

Section 513: Conditions to be met for some securities

1574.This section sets out details of certain conditions which some of the securities specified in the previous section have to meet to count as approved charitable investments for the purposes of the rules restricting exemptions. It is based on Schedule 1 to TIA 1961. The corresponding rule for income tax is in section 560 of ITA.

1575.The detail of the investments covered by Schedule 1 to TIA 1961 is incorporated into these sections in an updated form. See Change 40 in Annex 1 and the commentary on section 511.

1576.Subsection (8) specifies (among other things) that a company acquiring control of another company or other companies is treated as having paid a dividend or dividends paid by the other company or companies. See Change 40 in Annex 1.

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