SCHEDULES
SCHEDULE 5Enterprise management incentives
Part 7Notification of option to inland revenue
Completion of enquiry: closure notices
47
1
An enquiry under paragraph 46(2) is completed when F9an officer of Revenue and CustomsF2gives the employer company a notice—
b
stating F6the officer's decision as to whether the requirements of this Schedule are met in relation to the option.
2
3
An enquiry under paragraph 46(3) is completed when F9an officer of Revenue and CustomsF5gives the individual concerned and the employer company a notice—
b
stating F7the officer's decision as to whether the requirement of paragraph 26 (commitment of working time) is met by that individual in relation to the option.
4
References in the EMI code to a “closure notice” are to a notice under sub-paragraph (1) or (3).
5
A closure notice takes effect when it is issued.