- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)This section applies if—
(a)there is a genuine offer to the public of shares in a company at a fixed price or by tender,
(b)a director or employee of the company, or of another company or person, is entitled by reason of the office or employment to an allocation of the shares in priority to members of the public, and
(c)conditions A to C are met.
(2)No liability to income tax in respect of earnings arises by virtue of any benefit derived by the director or employee from the entitlement.
(3)Condition A is that the aggregate number of shares subject to the offer that may be allocated as mentioned in subsection (1)(b) (“priority shares”) does not exceed—
(a)if the offer is part of arrangements which include one or more other offers to the public of shares of the same class, either of the limits in subsection (4), or
(b)in any other case, 10% of the shares subject to the offer (including the priority shares).
(4)The limits referred to in subsection (3)(a) are—
(a)40% of the shares subject to the offer (including the priority shares), and
(b)10% of all the shares of the class in question that are subject to any of the offers forming part of the arrangements (including the priority shares).
(5)Condition B is that all the persons entitled to an allocation of priority shares are entitled to it on similar terms (see section 546).
(6)Condition C is that those persons are not restricted wholly or mainly to directors or to those whose remuneration exceeds a particular level.
(7)This section has effect subject to section 543 (discount not covered by exemption in this section).
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Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
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Testun a grëwyd gan yr adran o’r llywodraeth oedd yn gyfrifol am destun y Ddeddf i esbonio beth mae’r Ddeddf yn ceisio ei wneud ac i wneud y Ddeddf yn hygyrch i ddarllenwyr nad oes ganddynt gymhwyster cyfreithiol. Cyflwynwyd Nodiadau Esboniadol ym 1999 ac maent yn cyd-fynd â phob Deddf Gyhoeddus ac eithrio Deddfau Adfeddiannu, Cronfa Gyfunol, Cyllid a Chyfnerthiad.
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