s 85 Distributions in kind
The following section shall be inserted after section 43 0: the 1980 Act— “ Distri- 43A. Where a company makes a distribution o butions or including any non-cash asset and any part of the ; amount at which that asset is stated in the accounts Companies Act 1981 c. 62 relevant for the purposes of that distribution in accordance with section 43 of this Act represents an unrealised profit, that profit shall be treated as a realised profit— (a) for the purpose of determining the lawfulness of that distribution in accordance with this Part of this Act (whether before or after it takes place) ; and (b) for the purpose of the application of paragraphs 12(a) and 34(4)(b) of Schedule 8 to the 1948 Act (only realised profits to be included in or transferred to the profit and loss account) in relation to anything done with a view to or in connection with making that distribution.”.