SCHEDULES
SCHEDULE 2F1... share incentive plans
Part 4Types of shares that may be awarded
Shares must be fully paid up and not redeemable
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1
Eligible shares must be—
a
fully paid up, and
b
not redeemable.
2
For the purposes of sub-paragraph (1)(a) shares are not to be regarded as fully paid up if there is an undertaking to pay cash at a future date to the company whose shares they are.
3
For the purposes of sub-paragraph (1)(b) “redeemable” shares include shares that may become redeemable at a future date.
4
Sub-paragraph (1)(b) does not apply to shares in F2a registered co-operative society.
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In sub-paragraph (4) “registered co-operative society” means—
a
a society registered as a co-operative society under the Co-operative and Community Benefit Societies Act 2014,
b
a pre-commencement society (within the meaning of that Act) that is a co-operative society within the meaning of section 2 of that Act,
c
a society registered or deemed to be registered under the Industrial and Provident Societies Act (Northern Ireland) 1969 that is a co-operative society within the meaning of section 1 of that Act , or
d
an SCE formed in accordance with Council Regulation (EC) No 1435/2003 on the Statute for a European Cooperative Society.
Word in Sch. 2 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 14, 89 (with Sch. 8 paras. 90-96)