Income Tax (Earnings and Pensions) Act 2003

220 (1) Amend Schedule 7C (relief for transfers to approved share plans) as follows. U.K.

(2) In paragraph 1(1) (introductory) for “an employee share ownership” substitute “ a share incentive ”.

(3) In paragraph 2 (conditions relating to the disposal)—

(a) in sub-paragraph (1) for “Schedule 8 to the Finance Act 2000” substitute “ Schedule 2 to ITEPA 2003 ”,

(b) in sub-paragraph (2)—

(i) for “Part VIII” substitute “ Part 4 ”,

(ii) for “used in plan” substitute “ awarded ”, and

(iii) for “61(a) and (c)” substitute “ 27(1)(a) and (c) and (2) ”,

(c) in sub-paragraph (4) for “of Schedule 8 to the Finance Act 2000” substitute “ given by paragraph 97 of Schedule 2 to ITEPA 2003 ”.