SCHEDULE 7Transitionals and savings
Part 7Employment income: income related to securities
Approved share incentive plans
69
(1)
Any reference in any enactment, instrument or document—
(a)
to an employee share ownership plan, or
(b)
to an employee share ownership plan approved under Schedule 8 to FA 2000,
is to be read as including, in relation to times after 5th April 2003, a reference to a share incentive plan or to a share incentive plan approved under Schedule 2 to this Act.
(2)
Any reference in any enactment, instrument or document—
(a)
to a share incentive plan (or SIP), or
(b)
to a share incentive plan (or SIP) approved under Schedule 2 to this Act,
is to be read as including, in relation to times before 6th April 2003, a reference to an employee share ownership plan or to an employee share ownership plan approved under Schedule 8 to FA 2000.
(3)
Accordingly any reference in the SIP code to shares awarded under an approved SIP is to be read as including, in relation to times before 6th April 2003, a reference to shares awarded under a plan approved under Schedule 8 to FA 2000.
(4)
Any reference in a plan within paragraph 68(1) to a person chargeable to tax under Case I of Schedule E is to be read as including, in relation to times after 5th April 2003, a reference to a person whose earnings fall within paragraph 8(2) of Schedule 2 to this Act.
(5)
This paragraph—
(a)
is without prejudice to Part 1 of this Schedule, and
(b)
applies only in so far as the context permits.
(6)
In this paragraph—
“awarded” means appropriated to, or acquired on behalf of, a person;
“employee share ownership plan” has the same meaning as in paragraph 68.