Finance Act 2003 (c. 14)

SCHEDULES

SCHEDULE 23 U.K. Corporation tax relief for employee share acquisition

Part 1 U.K. General provisions

Kind of shares acquired U.K.

4 (1) The shares acquired must meet the following requirements. U.K.

(2) They must be ordinary shares that are fully paid-up and not redeemable.

(3) They must be—

(a) shares of a class listed on a recognised stock exchange, or

(b) shares in a company that is not under the control of another company, or

(c) shares in a company that is under the control of a company (other than a close company or a company that if resident in the United Kingdom would be a close company) whose shares are listed on a recognised stock exchange.