99

• “articles of association”, in relation to a company, includes any other written agreement between the shareholders of the company;

• “company” means a body corporate;

• “group of companies” means a company and any other companies of which it has control, and “group company” has a corresponding meaning;

• “participant’s plan shares”, in relation to a SIP, means plan shares that have been awarded to an individual participant;

• “PAYE obligations” means (subject to paragraphs 79(2) and 80(2)) obligations of any person under—

  1. a

     Part 11 of this Act, or

  2. b

     PAYE regulations;

• “plan shares”, in relation to a SIP, means—

  1. a

     free, partnership or matching shares which have been awarded to participants under the plan,

  2. b

     dividend shares which have been acquired on behalf of participants under the plan, and

  3. c

     shares in relation to which paragraph 87(1) applies (company reconstructions: new shares),

  and which (in each case) remain subject to the plan;

• “provision for forfeiture” means a provision to the effect that a participant ceases to be beneficially entitled to shares on the occurrence of certain events, and “forfeiture” is to be read accordingly;

• “qualifying corporate bond” has the meaning given by section 117 of TCGA 1992;

• “redundancy” has the same meaning as in ERA 1996 or ER(NI)O 1996;

• “rights arising under a rights issue” means rights conferred in respect of a participant’s plan shares to be allotted, on payment, other shares or securities or rights of any description in the same company.