Yn ddilys o 10/07/2003
18(1)Section 701(2)(c) (PAYE: exclusions from meaning of “asset”) is amended as follows.U.K.
(2)In sub-paragraph (i), omit “or 4 (approved CSOP schemes)”.
(3)After that sub-paragraph insert—
“(ia)any shares acquired by the employee (whether or not as a result of the exercise of a right to acquire shares) under a scheme approved under Schedule 4 (approved CSOP schemes), other than shares acquired as a result of the exercise of the right before the third anniversary of the date on which it was granted or later than the tenth anniversary of that date;”.
(4)In sub-paragraph (ii), for “such a scheme” substitute “ a scheme such as is mentioned in sub-paragraph (i) or (ia) ”.
(5)This paragraph has effect in relation to shares acquired on or after 9th April 2003.