SCHEDULES

SCHEDULE 23Corporation tax relief for employee share acquisition

Part 3Grant of option

The company whose shares are acquired

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The company whose shares are acquired F1pursuant to the option must be—

(a)

the employing company; or

(b)

a company that, at the time the option is granted, is a parent company in relation to the employing company; or

(c)

a company that, at that time, is a member of a consortium that owns the employing company or a company within paragraph (b); or

(d)

where, at that time, the employing company or a company within paragraph (b) is a member of a consortium that owns another company (C), a company that, at that time—

(i)

is a member of the consortium or a parent company in relation to a member of the consortium, and

(ii)

is also a member of the same commercial association of companies as C; or

(e)

a qualifying successor company (see paragraph 13).