Part 6 Share Incentive Plans: Dividend Shares
Finance Act 2013 (2013 c 29) | Legislation

Part 6 Share Incentive Plans: Dividend Shares

Introduction

82

Part 8 of Schedule 2 to ITEPA 2003 (cash dividends and dividend shares) is amended as follows.

Company's power to direct reinvestment of cash dividends

83

(1)     Paragraph 62 (reinvestment of dividends) is amended as follows.

(2)     In sub-paragraph (1) for the first “all†substitute “some or all of theâ€.

(3)     After sub-paragraph (1) insert—

“(1A)     The company's direction must set out—

(a)     the amount of the cash dividends to be applied as mentioned in sub-paragraph (1), or

(b)     how that amount is to be determined.â€

(4)     In sub-paragraph (4) after “may†insert “modify orâ€.

84

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