CTM20085 | ACT: General: Repayment of shares and securities

ICTA88/S211 and ICTA88/209 (2)(e)

Even though a bonus issue of redeemable shares was a non-qualifying distribution on issue, the later repayment of the shares may be a qualifying distribution under ICTA88/S211, CTM15400.

Similarly where a bonus issue of securities, which was a non-qualifying distribution on issue, is repaid, that repayment may be a qualifying distribution under S209 (2)(e), CTM15500.