(1) This section applies where—
(a) a company makes a distribution consisting of or including, or treated as arising in consequence of, the sale, transfer or other disposition by the company of a non-cash asset, and
(b) any part of the amount at which that asset is stated in the relevant accounts represents an unrealised profit.
(2) That profit is treated as a realised profit—
(a) for the purpose of determining the lawfulness of the distribution in accordance with this Part (whether before or after the distribution takes place), and
(b) for the purpose
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