Point in time view as at 03/08/2005.
Income Tax (Earnings and Pensions) Act 2003, Cross Heading: Withdrawal of approval 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.
83(1)This paragraph applies if a disqualifying event (see paragraph 84) occurs in relation to an approved SIP.U.K.
(2)[F1An officer of Revenue and Customs] may by a notice given to the company withdraw the approval with effect from—
(a)the time at which the disqualifying event occurred, or
(b)a later time specified by [F1an officer of Revenue and Customs] in the notice.
(3)The withdrawal of approval of a SIP does not affect the operation of the SIP code in relation to shares awarded to participants in the plan before the time with effect from which approval was withdrawn.
(4)References in the SIP code to an approved SIP in relation to such shares are to a plan that was approved at the time when the shares were awarded.
Textual Amendments
F1Words in Act substituted (18.4.2005) by Commissioners for Revenue and Customs Act 2005 (c. 11), s. 53(1), Sch. 4 para. 102(1); S.I. 2005/1126, art. 2(2)(h)
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