[F13(1)Sub-paragraph (2) applies to any shares awarded to a participant under the plan.U.K.
(2)The participant is treated for capital gains tax purposes as absolutely entitled to those shares as against the trustees.
(3)Sub-paragraph (2) applies notwithstanding anything in the plan or the trust instrument.]
Textual Amendments
F1Sch. 7D inserted (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 6 para. 221 (with Sch. 7)