Finance Act, 2000

Amendment of section 831 (implementation of Council Directive No. 90/435/EEC concerning the common system of taxation applicable in the case of parent companies and subsidiaries of different Member States) of Principal Act.

33.—As respects distributions made on or after 6 April 2000, section 831 of the Principal Act is amended—

(a) in subsection (1)(a), by the substitution of the following definition for the definition of “company”:

“ ‘company’, other than in the expression ‘unlimited company’ in subsection (5A), means a company of a Member State;”,


(b) by the insertion of the following subsection after subsection (5) (inserted by the Finance Act, 1999 ):

“(5A) Subsection (5) shall apply to a distribution made by an unlimited company within the meaning of section 5 (2)(c) of the Companies Act, 1963 , as it would apply if the unlimited company were a company of a Member State.”.