(1)
A share issued by a company under a profit distribution plan is a dividend.
(2)
The amount of the dividend is the amount offered by the company for the repurchase of the share.
(3)
Section CD 22 does not apply in relation to a share issued under a profit distribution plan and repurchased by the company as part of the plan.
Defined in this Act: amount, company, dividend, profit distribution plan, RWT, share
Section CD 7B: inserted (with effect on 1 October 2012), on 2 November 2012, by section 7 of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).