SCHEDULES

SCHEDULE 7Transitionals and savings

Part 7Employment income: income related to securities

Conditional interests in shares

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(1)

This paragraph relates to the operation of section 425 (cases where Chapter 2 of Part 7 does not apply) F1, as originally enacted.

(2)

Section 425(1) applies in relation to any acquisition made before 6th April 2003 with the substitution of “if the person was not chargeable under Case I of Schedule E in respect of the office or employment in question” for the words from “if the earnings” onwards.