Textual Amendments
F1Word in Sch. 3 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 103, 146 (with Sch. 8 paras. 147-157)
Textual Amendments
F2Words in Sch. 3 Pt. 2 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 106, 146 (with Sch. 8 paras. 147-157)
6(1)The scheme must provide that every person who meets the conditions in sub-paragraph (2) is eligible to participate in the scheme.U.K.
(2)A person (“E”) meets the conditions in this sub-paragraph if—
(a)E is an employee or a full-time director of the scheme organiser or (in the case of a group scheme) of a constituent company,
(b)E has been such an employee or director at all times during a qualifying period of not more than 5 years,
[F3(c)E's earnings from the office or employment within paragraph (a) are (or would be if there were any) general earnings to which section 15 applies (earnings for year when employee UK resident), [F4and]
F5(ca). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
(d)E is not ineligible under paragraph 11 (the “no material interest” requirement).
(3)The scheme must not contain any feature which has or is likely to have the effect of discouraging any description of persons who—
(a)meet the conditions in sub-paragraph (2), or
(b)met those conditions before ceasing to be persons within sub-paragraph (2)(a),
from actually participating in the scheme.
(4)Sub-paragraph (3) does not apply to any provision required or authorised by a provision of this Schedule.
Textual Amendments
F3Sch. 3 para. 6(2)(c)(ca) substituted for Sch. 3 para. 6(2)(c) (with effect in accordance with Sch. 7 para. 81 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 42
F4Word in Sch. 3 para. 6(2)(c) inserted (with effect in accordance with Sch. 46 para. 72 of the amending Act) by Finance Act 2013 (c. 29), Sch. 46 para. 41(1)(a) (with Sch. 46 para. 41(2))
F5Sch. 3 para. 6(2)(ca) omitted (with effect in accordance with Sch. 46 para. 72 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 41(1)(b) (with Sch. 46 para. 41(2))