Introduction Overview Overview Section 1083: Conditions for distributions within section 1077
3148.This section supplements section 1081 by requiring additional conditions (G to K) to be met if the exempt distribution consists of the transfer of a trade or trades, or shares in one or more 75% subsidiaries, followed by the issue of shares in the receiving company to the members of the company making the transfer. It is based on section 213(8) of ICTA.
3149.The company making the transfer must dispose of substantially the whole of its interest in the trade or shareholding that it transfers.
3150.Section 1084 further qualifies this section.