Category: Paragraph 74 (Eighth Schedule) – Definitions

Paragraph 74

 

  1. Definition of “capital distribution” amended by section 83 of Act 35 of 2007, substituted by section 78 of Act 17 of 2009 effective on 1 January 2011 and deleted by section 117 of Act 24 of 2011 effective on 1 April 2012.

 

  1. Definition of “company” substituted by section 95 of Act 74 of 2002 and deleted by section 113 of Act 45 of 2003.

 

  1. Definition of “date of distribution” inserted by section 113 of Act 45 of 2003, amended by section 110 of Act 7 of 2010 and section 117 of Act 24 of 2011 and substituted by section 130 of Act 22 of 2012 effective on 1 April 2012.

 

  1. Definition of “distribution” substituted by section 59 of Act 3 of 2008 and section 78 of Act 17 of 2009 effective on 1 January 2011 and deleted by section 117 of Act 24 of 2011 effective on 1 April 2012.

 

  1. Definition of “share” substituted by section 106 of Act 60 of 2001 and section 113 of Act 45 of 2003, amended by section 110 of Act 7 of 2010 and deleted by section 117 of Act 24 of 2011 effective on 1 April 2012.

“Date of distribution” definition of Eighth Schedule

Posted on by admin_kmos

“date of distribution”, in relation to any distribution, means-

 

(a)    to the extent that the distribution does not consist of a distribution of an asset in specie–

 

(i)      where the company that makes the distribution is a listed company, the date on which the distribution is paid; or

 

(ii)     where the company that makes the distribution is not a listed company, the earlier of the date on which the distribution is paid or becomes due and payable; or

 

(b)     to the extent that the distribution consists of a distribution of an asset in specie, the earlier of the date on which the distribution is paid or becomes due and payable.