SCHEDULES
SCHEDULE 12Contractual Savings Schemes
Curtailment of schemes
2
(1)
The M1M2following provisions of section 326, namely—
(a)
subsection (2) (schemes governed by regulations made under section 11 of National Debt Act 1972),
(b)
subsection (3) (schemes with building societies), and
(c)
subsection (4) (schemes with institutions authorised under Banking Act 1987),
shall be amended as mentioned in sub-paragraph (2) below.
(2)
In each subsection for the M3words “a scheme” (where they first occur) there shall be substituted “a share option linked scheme”.
(3)
This paragraph shall apply in relation to schemes not certified as mentioned in section 326(2)(c), (3)(b) or (4)(b) before 1st December 1994.