SCHEDULES

SCHEDULE 6Consequential Amendments

Part 2Other enactments

Finance Act 1989 (c. 26)

160

1

Amend section 69 (chargeable events in relation to employee share ownership trusts) as follows.

2

In subsection (3AA)—

a

in paragraph (a) for “an employee share ownership” substitute “ a share incentive ”, and

b

in paragraph (b) for “Schedule 8 to the Finance Act 2000” substitute “ Schedule 2 to the Income Tax (Earnings and Pensions) Act 2003 ”.

3

In the definition of “market value” in subsection (3AC), for “in Schedule 8 to the Finance Act 2000” substitute “ it has for the purposes of the SIP code (see paragraph 92 of Schedule 2 to the Income Tax (Earnings and Pensions) Act 2003) ”.

4

In subsection (4ZA)(b)—

a

for “a savings-related share option scheme within the meaning of Schedule 9 to the Taxes Act 1988” substitute “ an SAYE option scheme within the meaning of the SAYE code (see section 516(4) of the Income Tax (Earnings and Pensions) Act 2003) ”, and

b

in sub-paragraph (ii) for “that Schedule” substitute “ Schedule 3 to that Act ”.