SCHEDULES
SCHEDULE 22Employee securities and options
Consequential amendments
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1
Section 227(4) (employment income: exemptions) is amended as follows.
2
For paragraphs (a) and (b) substitute—
a
section 425 (restricted securities: no charge in respect of acquisition in certain circumstances),
b
section 475 (no charge in respect of acquisition of securities option),
3
Omit paragraphs (d), (f) and (h).
4
This paragraph has effect—
a
so far as relating to section 425, in accordance with the provision made for the substitution of Chapter 2 of Part 7, and
b
otherwise, in accordance with the provision made for the substitution of Chapter 5 of Part 7.