Explanatory Note
(This note is not part of the Order)
This Order amends paragraph 16 of Schedule 14 to the Finance Act 2000 so as to increase the gross asset requirement of a qualifying company granting a right to acquire shares under the enterprise management incentives provisions. The Order has effect in relation to rights to acquire shares granted on or after 1st January 2002. In the case of a single company the requirement that the value of the company’s gross assets does not exceed £15 million is increased to not exceeding £30 million. In the case of a parent company the requirement that the consolidated value of the group assets does not exceed £15 million is increased to not exceeding £30 million.