sec.136Interim dividend for financial year of becoming a GOC

### sec.136 Interim dividend for financial year of becoming a GOC For applying section 133 (Interim dividends) to a GOC for the financial year when it becomes a GOC— the period (the applicable period ) in relation to which an interim dividend is payable is, at the discretion of the shareholding Ministers— the first 6 months of the financial year; or the part of the 6 months for which it was a GOC; and the shareholding Ministers must, when acting under section 133 (1) to require the GOC’s board to make a recommendation, also notify the board of the applicable period. However, when a GOC’s shareholding Ministers exercise their discretion under section 135 (a) (Dividend payment for financial year of becoming a GOC), they are not bound by an applicable period previously decided and notified under subsection (1) . A candidate GOC becomes a GOC on 1 October 1994. Depending on what period the shareholding Ministers decide under subsection (1) (a) , and notify to the GOC’s board under subsection (1) (b) , the payment subsequently directed under section 133 (4) will relate to the GOC’s profit for either the first 6 months of the 1994–95 financial year or only the period from 1 October 1994 to 31 December 1994. s 136 prev s 136 amd 1997 No. 81 s 3 sch ; 2002 No. 68 s 339 sch 4 om 2007 No. 10 s 62 sch pres s 136 ins 1994 No. 64 s 293 sch 4 (sec.136-ssec.1) For applying section 133 (Interim dividends) to a GOC for the financial year when it becomes a GOC— the period (the applicable period ) in relation to which an interim dividend is payable is, at the discretion of the shareholding Ministers— the first 6 months of the financial year; or the part of the 6 months for which it was a GOC; and the shareholding Ministers must, when acting under section 133 (1) to require the GOC’s board to make a recommendation, also notify the board of the applicable period. (sec.136-ssec.2) However, when a GOC’s shareholding Ministers exercise their discretion under section 135 (a) (Dividend payment for financial year of becoming a GOC), they are not bound by an applicable period previously decided and notified under subsection (1) . A candidate GOC becomes a GOC on 1 October 1994. Depending on what period the shareholding Ministers decide under subsection (1) (a) , and notify to the GOC’s board under subsection (1) (b) , the payment subsequently directed under section 133 (4) will relate to the GOC’s profit for either the first 6 months of the 1994–95 financial year or only the period from 1 October 1994 to 31 December 1994. - (a) the period (the applicable period ) in relation to which an interim dividend is payable is, at the discretion of the shareholding Ministers— (i) the first 6 months of the financial year; or (ii) the part of the 6 months for which it was a GOC; and - (i) the first 6 months of the financial year; or - (ii) the part of the 6 months for which it was a GOC; and - (b) the shareholding Ministers must, when acting under section 133 (1) to require the GOC’s board to make a recommendation, also notify the board of the applicable period. - (i) the first 6 months of the financial year; or - (ii) the part of the 6 months for which it was a GOC; and