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Corporation Tax Act 2010

Section 1168: Payment of dividends

3318.This section provides when dividends are treated as paid. It is based on section 834(3) of ICTA and regulation 15(4) of the Authorised Investment Funds (Tax) Regulations 2006 (SI 2006/964).

3319.The section does not rewrite the words making an exception by reference to provisions in Chapter 3 of Part 12 of ICTA that deal differently with dividends treated as paid under that Chapter. Following earlier amendments of that Chapter, there are now no such provisions nor any such dividends.

3320.However, subsection (2) recognises that other provisions may make such an exception to the general rule. Regulation 15(4) of the Authorised Investment Funds (Tax) Regulations 2006 (SI2006/964) provides a different definition of “distribution date” for a distribution period of an authorised investment fund. That regulation is therefore included as an origin for this subsection.

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