SCHEDULES

SCHEDULE 2Approved share incentive plans

Part 8Cash dividends and dividend shares

Requirements to be met as regards cash dividends

63

(1)

If a SIP makes the provision authorised by paragraph 62(1) (reinvestment of cash dividends), the following paragraphs apply—

  • paragraph 64 (limit on amount reinvested),

  • paragraph 65 (general requirements as to dividend shares),

  • paragraph 66 (acquisition of dividend shares),

  • paragraph 67 (holding period for dividend shares), and

  • paragraph 68 (reinvestment: amounts to be carried forward).

(2)

The plan must meet any plan requirements contained in those paragraphs.

(3)

A SIP must in any event meet the plan requirement contained in paragraph 69 (cash dividends not required to be reinvested).