Point in time view as at 02/12/2019.
Income Tax (Earnings and Pensions) Act 2003, Paragraph 68 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.
68[F1(1)This paragraph applies where an amount is not reinvested because it is not sufficient to acquire a share.]U.K.
(2)The amount may be retained by the trustees and carried forward to be added to the amount of the next cash dividend to be reinvested.
(3)If so retained, the trustees must hold the amount so as to be separately identifiable for the purposes of sub-paragraphs (4) and (5).
(4)An amount retained under this paragraph must be paid over to the participant—
F2(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)if F3... the participant ceases to be in relevant employment (see paragraph 95), or
(c)if F3... a plan termination notice is issued in respect of the plan (see paragraph 90).
(5)An amount required to be paid over to the participant under sub-paragraph (4) must be paid over as soon as practicable.
F4(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 2 para. 68(1) substituted (with effect in accordance with Sch. 2 para. 86 of the amending Act) by Finance Act 2013 (c. 29), Sch. 2 para. 84
F2Sch. 2 para. 68(4)(a) and word omitted (with effect in accordance with Sch. 2 para. 90(4)(5) of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 2 para. 90(2)(a)
F3Words in Sch. 2 para. 68(4)(b)(c) omitted (with effect in accordance with Sch. 2 para. 90(4)(5) of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 2 para. 90(2)(b)
F4Sch. 2 para. 68(6) omitted (with effect in accordance with Sch. 2 para. 90(4)(5) of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 2 para. 90(3)
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