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OP 61: Consolidated FDPA transfer from group’s CTR account
or “Transfer of funds from group CTR account to FDPA no longer allowed”
You could also call this:

“This provision about transferring foreign dividend payments in company groups has been removed from the law”

This part of the law used to be about something called ‘Consolidated FDPA transfer for net foreign attributed income’. It was part of a bigger section about ‘FDP credits of consolidated FDP groups’ in the Income Tax Act 2007. However, you don’t need to worry about it anymore because it was removed from the law on 6 October 2009. The change applied from 1 April 2009. This means that this specific rule no longer exists in the current version of the law.

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Next up: OP 63: Consolidated FDPA reversal of tax advantage arrangement

or “Rules about reversing tax advantages for consolidated groups no longer apply”
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Part O Memorandum accounts
Memorandum accounts of consolidated groups: FDP credits of consolidated FDP groups

OP 62Consolidated FDPA transfer for net foreign attributed income (Repealed)

    Notes
    • Section OP 62: repealed (with effect on 1 April 2009), on , by section 465(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).