(1) The following provisions of this Chapter, together with sections 436, 436A and 437, and subsection (2)(b) of section 816, shall, subject to any express exceptions, apply with respect to the meaning in the Corporation Tax Acts of "distribution" and for determining the persons to whom certain distributions are to be treated as made; but references in the Corporation Tax Acts to distributions of a company shall not apply to distributions made in respect of share capital in a winding up.
(2) In relation to any company, "distribution" means -
(a) any dividend paid by the company, including a capital dividend;
(b) any other distribution out of assets of the company (whether in cash or otherwise) in respect of shares in the company, except, subject to section 132, so much of the distribution, if any, as represents a repayment of capital on the shares or is, when it is made, equal in amount or value to any new consideration received by the company for the distribution;
(c) any amount met o
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