Finance Act, 1991
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Amendment of section 87 (distributions: supplemental) of Corporation Tax Act, 1976. |
29.— Section 87 of the Corporation Tax Act, 1976 , is hereby amended, as respects any acquisition of shares on or after the 25th day of July, 1990, in subsection (4) by the addition of the following paragraph after paragraph (d): | |
“(e) Nothing in this subsection shall require a company, which is a subsidiary (being a subsidiary within the meaning of section 155 of the Companies Act, 1963 ) of another company to be treated as making a distribution where it acquires shares in the other company pursuant to section 9 (1) of the Insurance Act, 1990 .”. |