137. In general.

The definition given in the following paragraphs applies, unless otherwise stated, for the purposes of the Corporation Tax Acts and the Income Tax Acts1, in relation to any company2. 'Distribution' does not include interest paid on certain securities3, certain distributions of shares in other companies which qualify as exempt distributions through the application of the rules for demergers4 or payments by a company on the redemption, repayment or purchase of its own shares in certain circumstances