Point in time view as at 22/07/2020.
Income Tax (Earnings and Pensions) Act 2003, Cross Heading: Ratio of matching shares to partnership shares 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.
60(1)The partnership share agreement must specify—U.K.
(a)the ratio of matching shares to partnership shares for the time being offered by the company, and
(b)the circumstances and manner in which the ratio may be changed by the company.
(2)The ratio must not exceed 2:1 and must be applied by reference to the number of shares.
(3)A partnership share agreement must provide for the employee to be informed by the company if the ratio offered by the company changes before partnership shares are awarded to the employee under the agreement.
[F1(4)The Treasury may by order amend sub-paragraph (2) by substituting for any ratio for the time being specified there a ratio specified in the order.]
Textual Amendments
F1Sch. 2 para. 60(4) inserted (17.7.2014) by Finance Act 2014 (c. 26), s. 50(4)
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