Point in time view as at 22/07/2020.
Income Tax (Earnings and Pensions) Act 2003, Paragraph 2 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
2(1)In the SIP code a “share incentive plan” (or “SIP” for short) means (in accordance with section 488(4)) a plan established by a company providing—U.K.
(a)for shares to be appropriated to employees without payment (“free shares”), or
(b)for shares to be acquired on behalf of employees out of sums deducted from their salary (“partnership shares”).
(2)In the SIP code, in relation to a SIP—
“the company” means the company which established the plan;
“plan requirements” means requirements applying to the plan;
“the trustees” means the body of persons established under Part 9 to exercise functions in connection with the plan.
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