SCHEDULES
SCHEDULE 2Approved share incentive plans
Part 3Eligibility of individuals
Meaning of “associate”
22
1
In paragraph 19(2) (the “no material interest” requirement) “associate”, in relation to an individual, means—
a
any relative or partner of the individual,
b
the trustee or trustees of any settlement in relation to which the individual, or any of the individual’s relatives (living or dead), is or was a settlor, and
c
where the individual is interested in any shares or obligations of the company mentioned in paragraph 19(2) which are subject to any trust, or are part of the estate of a deceased person—
i
the trustee or trustees of the settlement concerned, or
ii
the personal representatives of the deceased,
as the case may be.
2
Sub-paragraph (1)(c) needs to be read with paragraphs 23 and 24 (which relate to employee benefit trusts and discretionary trusts).
3
In this paragraph—