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Corporation Tax Act 2010

Section 1021: Section 1020 exceptions

3019.This section sets out two circumstances where section 1020 does not apply. It is based on section 209(5) to (7) of ICTA.

3020.Subsection (1) sets out the two exceptions. Subsections (2) to (5) contain further interpretation.

3021.Note that if subsection (1) disapplies section 1020 and thereby takes something out of being a distribution, it is not to be treated as a distribution under paragraph B in section 1000. Section 1002(2) makes the necessary link.

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