SCHEDULES
SCHEDULE 2Approved share incentive plans
Part 3Eligibility of individuals
F1Participation in more than one connected SIP in a tax year
Annotations:
Amendments (Textual)
18A
1
The plan must provide that, if an individual participates in an award of shares under the plan in a tax year in which he has already participated in an award of shares under one or more other approved SIPs established by the company or a connected company—
a
paragraph 35 (maximum annual award of free shares),
b
paragraph 46 (maximum amount of partnership share money deductions), and (c)paragraph 64 (limit on amount reinvested), apply as if the plan and the other plan or plans were a single plan.
2
In this paragraph “connected company” has the same meaning as in paragraph 18.
Sch. 2 para. 18A and cross-heading inserted (10.7.2003) by Finance Act 2003 (c. 14), Sch. 21 para. 2