Taxes Consolidation Act, 1997

Tax credit for recipients of certain distributions.

[FA 93 s46(1) and (2)]

150.—(1) This section shall apply to a distribution made by a company which carries on a specified trade (being a specified trade within the meaning of section 133 (1)) and which is a distribution by virtue only of subparagraph (ii), (iii)(I) or (v) of section 130 (2)(d).

(2) Where a distribution to which this section applies or part of such a distribution is not otherwise a relevant distribution for the purposes of section 147 (5), then, notwithstanding any provision to the contrary in section 147 , the distribution or part of it, as the case may be, shall be deemed for the purposes of section 147 (5) to be a relevant distribution.