[F1236EIdentification of exempt employee shareholder sharesU.K.
(1)Sections 104 (share pooling), 105 (disposal on or before acquisition) and 106A (identification of securities) do not apply to exempt employee shareholder shares.
(2)Subsection (3) applies where—
(a)an employee holds shares of the same class in a company,
(b)some, but not all, of the shares are exempt employee shareholder shares, and
(c)the employee disposes of some, but not all, of the shares in that holding.
(3)Where this subsection applies—
(a)the employee may determine what proportion of the shares disposed of are to be treated as exempt employee shareholder shares (up to the number of such shares which the employee holds), and
(b)the consideration received for the shares disposed of is to be apportioned accordingly.
(4)For the purposes of this section shares in a company are not to be treated as being of the same class unless they are so treated by the practice of a recognised stock exchange or would be so treated if dealt with on a recognised stock exchange.]
Textual Amendments
F1Ss. 236B-236G and cross-heading inserted (1.9.2013) by Finance Act 2013 (c. 29), Sch. 23 paras. 20, 38; S.I. 2013/1755, art. 2