Income Tax (Trading and Other Income) Act 2005

396 Interpretation of sections 392 to 395 U.K.

(1) This section and sections 392 to 395 form part of the SIP code (see section 488 of ITEPA 2003 (approved share incentive plans)).

(2) Accordingly, expressions used in this section or those sections and contained in the index in paragraph 100 of Schedule 2 to that Act (approved share incentive plans) have the meaning indicated by that index.

(3) In particular—

(a) for the meaning of “award of shares” see paragraph 5(1) of that Schedule,

(b) for the meaning of “ceasing to be subject to plan” see paragraph 97 of that Schedule,

(c) for the meaning of “dividend shares” see paragraph 62(3)(b) of that Schedule,

(d) for the meaning of “employment requirement” see paragraph 15(3) of that Schedule,

(e) for the meaning of “participant” see paragraph 5(4) of that Schedule,

(f) for the meaning of “plan shares” see paragraphs 86 to 88 and 99(1) of that Schedule, and

(g) for the meaning of “shares” see paragraphs 87(6) and 99(2) of that Schedule.