Finance Act 2014

101 (1) Section 519 (no charge in respect of exercise of option) is amended as follows. U.K.

(2) In subsection (1)(a) for “approved” substitute “ a Schedule 3 SAYE option scheme ”.

(3) In subsection (3A)—

(a) in paragraph (a) for “approved” substitute “ a Schedule 3 SAYE option scheme ”,

(b) in paragraph (b)(i) for “or (4)” substitute “ , (4) or (4A) ”,

(c) in paragraphs (c), (d) and (f) after sub-paragraph (ii) omit “or” and insert—

“(iia) the non-UK company reorganisation arrangement, or”, and

(d) in paragraph (e) after sub-paragraph (ii) omit “or” and insert—

“(iia) the making of any non-UK company reorganisation arrangement which would fall within subsection (3H), or”.

(4) In subsection (3H)—

(a) after “arrangement” insert “ or a non-UK company reorganisation arrangement ”, and

(b) in paragraph (b) for “an approved” substitute “ a Schedule 3 ”.

(5) In subsection (5)(b)—

(a) for “paragraph 42(3) provides” substitute “ paragraphs 40H(4) and 40I(9) provide ”,

(b) for “approved” substitute “ a Schedule 3 SAYE option scheme ”, and

(c) for “approval of the scheme has been previously withdrawn” substitute “ the scheme is not a Schedule 3 SAYE option scheme ”.