SCHEDULES

SCHEDULE 2Approved share incentive plans

Part 9Trustees

Duty to act in accordance with participant’s directions

72

1

The trust instrument must require the trustees—

a

to dispose of a participant’s plan shares, and

b

to deal with any right conferred in respect of any of a participant’s plan shares to be allotted other shares, securities or rights of any description,

only in accordance with a direction given by or on behalf of the participant.

2

Sub-paragraph (1) is subject to—

a

paragraph 73 (duty not to dispose of plan shares), and

b

any provision in the plan made in accordance with paragraph 79 (meeting by trustees of PAYE obligations).

3

The plan may provide for participants to give such general directions, to such effect and in such terms, as are specified in the plan.