18(1)Section 701(2)(c) (PAYE: exclusions from meaning of “asset”) is amended as follows.U.K.
(2)In sub-paragraph (i), omit “or 4 (approved CSOP schemes)”.
(3)After that sub-paragraph insert—
“(ia)any shares acquired by the employee (whether or not as a result of the exercise of a right to acquire shares) under a scheme approved under Schedule 4 (approved CSOP schemes), other than shares acquired as a result of the exercise of the right before the third anniversary of the date on which it was granted or later than the tenth anniversary of that date;”.
F1(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)This paragraph has effect in relation to shares acquired on or after 9th April 2003.
Textual Amendments
F1Sch. 21 para. 18(4) repealed (with effect in accordance with s. 88(11) of the amending Act) by Finance Act 2004 (c. 12), Sch. 42 Pt. 2(11)