Point in time view as at 17/12/2014.
Income Tax (Earnings and Pensions) Act 2003, Cross Heading: General restriction on contents of scheme 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.
[F15(1)The purpose of the scheme must be to provide, in accordance with this Schedule, benefits for employees and directors in the form of share options.U.K.
(2)The scheme must not provide benefits to employees or directors otherwise than in accordance with this Schedule.
(3)For example, the scheme must not provide cash as an alternative to share options or shares which might otherwise be acquired by the exercise of share options.]
Textual Amendments
F1Sch. 3 para. 5 substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 108, 146 (with Sch. 8 paras. 147-157)
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